1006 Main StWest Bend, WI 53095

For Sale
$1,192,479

West Bend, WI Medical Office - NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a 2,500 square foot Class A medical office building in West Bend, Wisconsin, currently 100% occupied by Heartland Dental under a Net Lease agreement. Built in 2015, this single-tenant property sits on a 0.47-acre lot at 1006 S Main St, 53095. The lease, corporately guaranteed by Heartland Dental, LLC, features a strong 7.10% capitalization rate with a NOI of $84,666. The lease term extends to August 31, 2027, with two 5-year renewal options. Annual rent escalations are 2% or the change in CPI, providing inflation protection. The tenant is responsible for all operating expenses except roof and structure maintenance, with a provision for the tenant to reimburse up to 5% of management costs. This property offers a secure, long-term investment with a nationally recognized tenant and built-in rent growth. The acquisition of American Dental Partners by Heartland Dental in 2021 further solidifies the tenant's commitment and stability. This is a rare opportunity to acquire a high-quality, well-located medical office building with a proven track record of success. The property's desirable location and strong tenant covenant make it an attractive investment for discerning buyers seeking stable income and long-term appreciation.

Highlights

  • $1,192,479 asking price for this Class A, 2,500 square foot medical office building in West Bend, WI.
  • The property is a single-tenant, net-leased investment with a corporate guarantee from Heartland Dental, LLC.
  • Heartland Dental's lease has 2.88+ years remaining, with annual rent escalations of 2% or CPI, and two 5-year renewal options at 10% increases.
  • The tenant reimburses up to 5% of operating expenses for property management.
  • The property features a 7.10% cap rate and a strong NOI of $84,666.

Property Details for 1006 Main St

Property type
Other retail properties, Other office properties
Square Feet
2,500 SF
Class
A
Year Built
2015
Buildings
1
Lot Size (sq. ft)
20,473 SF

Location Insight

City
West Bend
County
Washington
State
Wisconsin
Latitude
43.4077748
Longitude
-88.1816637
1006 Main St, West Bend, Wisconsin

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1006 Main St
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