214.915.8890 BOB MOORHEAD [email protected]JOE CAPUTO [email protected]RUSSELL SMITH [email protected]Property: 3,500+ SF building on 0.59+ acre site. Tenant: Aspen Dental: approximately 3.4 million dental patients at more than 500 office locations in 30 states. Lease structure: 10-year, corporate, net lease, with 3, 5-year options to renew. 10% rent increase during primary term and options. Location: Aspen dental is located off of East Race Street (11,000 Cars / Day) just east of U.S. Highway 67 (24,000 Cars / Day). U.S. Highway 67 is a 279-mile portion of U.S. Route 67. The route passes through several cities and towns, including Hope, Benton, Little Rock, Beebe, Walnut Ridge, and Pocahontas; serving as a primary commercial corridor for the region. East Race Street is the main east-west thoroughfare in Searcy, providing easy access to all major commercial and residential areas. This accessibility has brought extensive retail and business development to the immediate trade area. Notable national credit tenants surrounding the subject property include Walmart Supercenter, Lowes, Tractor Supply Co., Big Lots!, Hastings, Payless, CATO, JCP, Staples, GameStop, Chili’s, McAlister’s, Chick-fil-a, and countless others. Searcy is 50-miles northeast of Little Rock, AR. EXCLUSIVE OFFERING | 1,685,000 – 6.75% CAP Aspen Dental 3700 East Race AVE, Searcy, AR SUBJECT PROPERTY
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Lease overview - EXP Realty Advisors Dental_AR_Searcy... · 3 Investment overview ASPEN DENTAL 3700 East Race Street, Searcy, AR PRICE: $1,685,000 CAP RATE: 6.75% NET OPERATING INCOME:
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Tenant: Aspen Dental: approximately 3.4 million dental patients at more than 500 office locations in 30 states.
Lease structure: 10-year, corporate, net lease, with 3, 5-year options to renew. 10% rent increase during primary term and options.
Location: Aspen dental is located off of East Race Street (11,000 Cars / Day) just east of U.S. Highway 67 (24,000 Cars / Day). U.S. Highway 67 is a 279-mile
portion of U.S. Route 67. The route passes through several cities and towns, including Hope, Benton, Little Rock, Beebe, Walnut Ridge, and Pocahontas; serving
as a primary commercial corridor for the region. East Race Street is the main east-west thoroughfare in Searcy, providing easy access to all major commercial and
residential areas. This accessibility has brought extensive retail and business development to the immediate trade area. Notable national credit tenants
surrounding the subject property include Walmart Supercenter, Lowes, Tractor Supply Co., Big Lots!, Hastings, Payless, CATO, JCP, Staples, GameStop, Chili’s,
McAlister’s, Chick-fil-a, and countless others. Searcy is 50-miles northeast of Little Rock, AR.
EXCLUSIVE OFFERING | 1,685,000 – 6.75% CAP
Aspen Dental
3700 East Race AVE, Searcy, AR
SUBJECT PROPERTY
EXP Realty Advisors, Inc. (“Agent”) has been engaged as an agent for the sale of the
property located at 3700 East Race Street, Searcy, AR by the owner of the Property
(“Seller”). The Property is being offered for sale in an “as-is, where-is” condition and Seller
and Agent make no representations or warranties as to the accuracy of the information
contained in this Offering Memorandum. The enclosed materials include highly confidential
information and are being furnished solely for the purpose of review by prospective
purchasers of the interest described herein. The enclosed materials are being provided
solely to facilitate the prospective investor’s own due diligence for which it shall be fully and
solely responsible. The material contained herein is based on information and sources
deemed to be reliable, but no representation or warranty, express or implied, is being made
by Agent or Seller or any of their respective representatives, affiliates, officers, employees,
shareholders, partners and directors, as to the accuracy or completeness of the information
contained herein. Summaries contained herein of any legal or other documents are not
intended to be comprehensive statements of the terms of such documents, but rather only
outlines of some of the principal provisions contained therein. Neither the Agent nor the
Seller shall have any liability whatsoever for the accuracy or completeness of the
information contained herein or any other written or oral communication or information
transmitted or made available or any action taken or decision made by the recipient with
respect to the Property. Interested parties are to make their own investigations, projections
and conclusions without reliance upon the material contained herein. Seller reserves the
right, at its sole and absolute discretion, to withdraw the Property from being marketed for
sale at any time and for any reason. Seller and Agent each expressly reserves the right, at
their sole and absolute discretion, to reject any and all expressions of interest or offers
regarding the Property and/or to terminate discussions with any entity at any time, with or
without notice. This offering is made subject to omissions, correction of errors, change of
price or other terms, prior sale or withdrawal from the market without notice. Agent is not
authorized to make any representations or agreements on behalf of Seller. Seller shall
have no legal commitment or obligation to any interested party reviewing the enclosed
materials, performing additional investigation and/or making an offer to purchase the
Property unless and until a binding written agreement for the purchase of the Property has
been fully executed, delivered, and approved by Seller and any conditions to Seller’s
obligations hereunder have been satisfied or waived. By taking possession of and
reviewing the information contained herein, the recipient agrees that (a) the enclosed
materials and their contents are of a highly confidential nature and will be held and treated
in the strictest confidence and shall be returned to Agent or Seller promptly upon request;
and (b) the recipient shall not contact employees or tenants of the Property directly or
indirectly regarding any aspect of the enclosed materials or the Property without the prior
written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be
copied or otherwise reproduced without the prior written authorization of Seller and Agent.
PAGE 3: INVESTMENT | TENANT | LEASE OVERVIEW
PAGE 1: COVER
PAGE 2: TABLE OF CONTENTS | DISCLAIMER
PAGE 10: DEMOGRAPHICS
Table of contents | Disclaimer Aspen Dental
3700 East Race Street, Searcy, AR
PAGE 6: AERIAL PHOTO
PAGE 7: LOCATION OVERVIEW
PAGE 8-9: LOCATION MAPS
Disclaimer
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PAGE 5: SITE PLAN
Listed in association with ARKANSAS broker of record: Flake & kelley commercial
Initial Lease Term: 10-year term with 3, 5-year options to extend
Rent Increases: 10% every 5-years through term and options
Year 1-5 Annual Rent (Current): $113,750
Lease Type: Net Lease
Year 6-10 Annual Rent: $125,124
Year 11-15 Annual Rent (Option 1): $137,655
Year 16-20 Annual Rent (Option 2): $151,410
Lease overview
Year 21-25 Annual Rent (Option 3): $166,565
Aspen Dental | www.aspendental.com
Aspen Dental, is one of the largest and fastest-growing providers of denture and dental care services in the U.S., and is committed to providing patients with
affordable, high quality care. Aspen Dental’s history started in Syracuse, New York, at a dental lab called Upstate Dental, which began operations in 1964. As of
2015, Aspen Dental serves approximately 3.4 million dental patients at more than 500 office locations in 30 states. Through 2015, Aspen Dental is scheduled to
open 55 new offices each year throughout various locations in the United States.
Aspen Dental practices follow a patient-driven retail model that feature visible locations in highly trafficked retail centers, affordable and comprehensive dental
care, and convenient payment options. Aspen Dental Management Inc., Aspen Dental’s integrated business support service, provides a broad range of non-
clinical services, including human resources, and accounting. This allows dentists to spend more time caring for their patients and less time on the administrative
and financial aspects of running a successful dental practice.
Each office has certified oral hygienists, dentists and oral surgeons for general dental care. Aspen Dental will provide patients with a full range of denture and
dental services, including hygiene, oral surgery, fillings, whitening and crown and bridge work. Aspen Dental is the only authorized provider of 8 styles of full and
partial hand-crafted ComfiDents® brand dentures.
With more than 500 locations in 30 states, Aspen Dental practices are nationally accredited by the Better Business Bureau (BBB). In 2014, Aspen Dental-branded
practices recorded nearly 3.4 million patient visits and welcomed more than 750,000 new patients.
Aspen Dental seeks A+ locations in major retail areas and looks for prime retail visibility, including maximum storefront and pylon signage opportunities, strong
traffic counts, great access, and ample, convenient parking. The dental profession is not affected by the same economic challenges many other retailers face.
More than 10 years experience building successful dental practices with 100% success rate. They have never closed a location. (Source:
www.aspendental.com)
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TENANT OVERVIEW CONTINUED ASPEN DENTAL
3700 East Race Street, Searcy, AR
5
SITE PLAN ASPEN DENTAL
3700 East Race Street, Searcy, AR
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Aerial photo Aspen Dental
3700 East Race Street, Searcy, AR
IMMEDIATE TRADE AREA
Aspen dental is located off of East Race Street (11,000 Cars / Day) just east of
U.S. Highway 67 (24,000 Cars / Day). U.S. Highway 67 is a 279-mile portion of
U.S. Route 67. The route passes through several cities and towns, including
Hope, Benton, Little Rock, Beebe, Walnut Ridge, and Pocahontas; serving as a
primary commercial corridor for the region. East Race Street is the main east-
west thoroughfare in Searcy, providing easy access to all major commercial
and residential areas.
This accessibility has brought extensive retail and business development to the
immediate trade area. Notable national credit tenants surrounding the subject
property include Walmart Supercenter, Lowes, Tractor Supply Co., Big Lots!,