Midwest Dental
- Price: $925,000
- Cap Rate: 6.86%
- Years Remaining: 8 months
- Rentable Area: 3,538 SF
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Midwest Dental
Sullivan, MO
Investment Highlights
- Sales Price: $925,000
- Cap Rate: 6.86%
- Years Remaining: 8 months
- Lot Size: 0.7 Acres
- Market: Sullivan, Missouri
Contact Broker
Brian Wine
Description
McKelvey Properties in collaboration with The Wine Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Midwest Dental investment property located in Sullivan, MO. The tenant, Midwest Dental Care Mondovi, Inc., signed a 5-year lease extension in 2017, and has 1 (3-year) option remaining. The lease features a 3% rental increase at the beginning of the option period. The lease is NN with landlord responsibilities limited to maintaining roof, structure, exterior, and HVAC.
Location
Midwest Dental is located in extremely close proximity to direct on/off ramp access to Interstate 44 (14,700 VPD), a major east-west U.S. Highway that connects Sullivan to nearby populous centers including St. Louis, MO. The property is located behind a ALDI and Dollar Tree anchored retail center, and is also adjacent to a Walmart Supercenter. Other nearby national/credit tenants include Lowe’s Home Improvement, Walgreens, O’Reilly Auto Parts, and more. Strong surrounding tenant synergy increases consumer draw to the immediate trade area and promotes crossover exposure for the site. The property features significant street frontage, as well as a large pylon sign, creating excellent visibility for the property. Midwest Dental is located in a populated residential area, creating a direct consumer base from which to draw. The 5-mile trade area is supported by a population of over 11,000 residents as well as 7,000 employees, and features an average household income of $60,750.
