11600 Town Center Dr - Medical FOR SALE


Covington, GA 30014
$3,512,000 USD
415-852-5177
11600 Town Center Dr, Covington, GA for Sale
$3,512,000 USD
Medical - FOR SALE
1/5
null | 5% Cap Rate

11600 Town Center Dr
Covington, GA 30014


HIGHLIGHTS

  • Newly casted 10-year absolute NNN lease with a proven store, demonstrating long-term commitment to the site
  • 10% fixed rental increases every five years in initial term and extension terms
  • Heartland Dental, LLC is the largest dental support organization in the U.S., with more than 1,800 supported dental offices located in 38 states
  • Heartland Dental is majority owned by KKR, the largest global investment company in the world with over $504B under management
  • Heartland Dental continues impressive national growth with more than 87 new locations opened in 2022

OVERVIEW

This Heartland Dental has a high-visibility and easily accessible location along near the signalized four-way intersection of Alcovy Road and Industrial Park Boulevard Northeast (combined 37,200 AADT). The property is just north of Interstate 20, a major east-west route traversing the entirety of Georgia that allows the site to capture significant commuter traffic (80,000 AADT). The location features a prime setting within Covington Town Center, a new 180-acre mixed-use development including a medical office building, 350 apartment units, 270 townhomes, and a 175,000-SF retail center anchored by Publix. The site greatly benefits from its proximity 2.4 miles from Piedmont Newton Hospital (739 employees), the second-largest employer in Covington. 303,670 residents live within a fifteen-mile radius of the site, providing an extremely large and reliable customer base. Projected population and income increases within 5-, 10-, and 15-mile radii over the next five years poise Heartland Dental and Covington for steady concurrent growth.

FOR SALE DETAILS

PRICE

$3,512,000 USD

PRICE/SF

$824 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Heartland Dental

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.85 AC

LAND SF

37,026 SF

ZONING

-

APN/PARCEL ID

C080000000002L00,C080000000002V00

ASK ABOUT THIS PROPERTY

Michael YurasCushman & WakefieldMore Info
415-852-5177

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Michael YurasCushman & WakefieldMore Info
415-852-5177

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.