Midwest Dental
1700 W James St Derby, KS 67037
Price: $1,075,000
Status: Sold
Cap Rate: Contact Broker
Year Built: 1992/Ren 2019
NOI: $75,760
Lot Size: 8436.00 sqft
Price Per Foot:
Lease Type: NNN
Remaining Term: 11+ Years
GLA: 8436 sqft
Property Intro
Lee & Associates is pleased to exclusively offer for sale the fee simple interest (land & building) in a Midwest Dental property located in Derby, Kansas (the “Property”). The Property consists of a 8,436-square-foot medical building that sits on an approximately 34,440-square-foot parcel.
investment highlights
- MIDWEST DENTAL CORPORATE LEASE • 190 OFFICES IN 17 STATES
- The subject property is leased to Midwest Dental on a long term corporate guaranteed lease from Midwest Dental Holding Company (parent company). Midwest Dental is also the parent company of four regional brands – Mountain Dental, Midwest Dental, Merit Dental and Mondovi Dental. Midwest Dental is a nationally recognized brand servicing 190 offices in 17 states.
- RECENT EARLY 10-YEAR LEASE EXTENSION (MAY 2019) • COMMITMENT TO SITE • RECENT CAPITAL IMPROVEMENTS TO THE BUILDING
- Midwest Dental has been successfully operating at this location since 2012 and recently executed (May 2019) a 10-year lease extension early, leaving 11+ years remaining on the lease term. Additionally, the landlord recently replaced several of the HVAC units and upgraded the exterior front entry facade in the summer of 2019.
- LOW RENT • HIGH LIKELIHOOD OF TENANT PROFITABILITY • IDEAL LONG TERM HOLD INVESTMENT
- The tenant is paying a very low rent for a medical tenant ($8.98 per square foot). The low rent provides an investor with an easily replaceable rent and even some potential rent upside, in the very unlikely event the tenant was to ever vacate.
The low rent also provides an investor with added security knowing that it’s highly probable the tenant will be profitable at this location and thus, remaining at this location for many years to come. - LOCATED NEAR HARD CORNER SIGNALIZED INTERSECTION
- The subject property is located near the signalized hard corner intersection of E. James St & Rock Rd, offering excellent visibility to combined traffic counts of 26,00+ cars per day. The site offers multiple entrances and ample parking (55 total spaces).
- IDEAL LOCATION ALONG MAJOR RETAIL CORRIDOR • STRONG DRAW TO THE TRADE AREA
- The property is located along Rock Rd, which is a heavily trafficked retail corridor. This corridor houses many retailers such as T-Mobile, WinCo Foods, LA Fitness, Stein Mart, Sprouts, Kohl’s, Sherwin-Williams, Goodwill, and Midas, as well as restaurants including McDonald’s, Taco Bell, Black Bear Diner, Arby’s, Wendy’s, El Pollo Loco, Pizza Hut, Carrabba’s Italian Grill, and many more.
listing agents
