Aspen Dental
Homewood, AL
| Price | $2,648,000 |
| Cap Rate | 5.75% |
| NOI | $152,250 |
| Lease Term | 10 Years |
| Lease Type | Net Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof, Structure, And Parking Lot |
| Rental Increases | Apprx. 8% Rental Increases Every Five (5) years |
| Year Built | 2022 |
| Building Size | 3,500 SF |
| Lot Size | 0.56 Acres (24,394 SF) |
| Status | Available |
| Lead Broker Information | Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NEW 10-YEAR NET LEASE TO FAST-GROWING HEALTHCARE TENANT
» 10-year net lease to Aspen Dental with rental increases every five years including option periods
» Aspen Dental operates over 939 locations in 43 states
» Aspen Dental is the fastest-growing network of independently owned dental practices in the United States
» New 2022 construction built to Aspen Dentals latest prototype
HIGH VISIBILITY LOCATION IN LARGE, AFFLUENT, AND GROWING BIRMINGHAM SUBURB
» High-visibility location along Lakeshore Parkway, a primary east-west Homewood corridor (57,754 AADT)
» Proximity to Interstate 65 (132,104 AADT), carrying commuter traffic to and from Birmingham (61. miles away)
» 180,166 residents within a five-mile radius, creating a large and reliable customer base for the site
» Average annual household income of $102,344 within one mile
» Projected 13 percent average annual household income increase within one mile of the site by 2026, poising Aspen Dental and Homewood for concurrent growth
PROMINENT LOCATION IN THE HEART OF HOMEWOOD’S PRIMARY RETAIL CORRIDOR
» Prominent location within Wildwood Centre, a 225,000+ SF retail center featuring multiple national retailers and major Homewood economic drivers
» Surrounded by well-established national tenants such as Walmart Supercenter, Lowe’s Home Improvement, Sam’s Club, Hobby Lobby, Hibbett Sports, Chipotle (under construction), and many more
» Strategic location with six major national hotel brands all within a one-mile radius, greatly increasing foot traffic directly to the site
» Two miles from Samford University (5,471 students, 13 consecutive years of record enrollment)
» Gateway to Birmingham, the most populous city in Alabama (209,403 population)
Property Description
This Aspen Dental has a high visibility location along Lakeshore Parkway, a primary east-west Homewood corridor (57,754 AADT). The property experiences increased activity from its proximity and access to Interstate 65 (276,000 AADT), carrying massive amounts of commuter traffic to and from Birmingham. The site is located in a densely populated area with 180,166 residents living within a five-mile radius. The surrounding area is affluent with an average annual household income of $102,344 within one mile of the site and projected to increase 13 percent by 2026, poising Aspen Dental and Homewood for significant concurrent growth.
The property benefits from its prominent location in the heart of Homewood’s primary retail corridor. The site is strategically located within Wildwood Centre, a 225,000+ SF retail center featuring multiple national retailers and major Homewood economic drivers. The property is surrounded by well-established national tenants such as Walmart Supercenter, Lowe’s Home Improvement, Sam’s Club, Hobby Lobby, Hibbett Sports, Chipotle (under construction), and many more. The location is situated near six major national hotel brands all within a one-mile radius, greatly increasing foot traffic directly to the site. The property is two miles from Samford University (5,471 students, 13 consecutive years of record enrollment) and serves as a common gateway to Birmingham, the most populous city in Alabama (209,403 population).
