For Sale
$2,400,000 | 8.74% Cap
151 Bishop Murphy Drive, Frostburg, MD 21532
New OM Download
New OM Download
Broker of Record: Jeremy Halback | Bridgeline Real Estate LLC | MD License #: 5022010
| Facility Type | Building Area (SF) | Years Remaining | Net Operating Income |
|---|---|---|---|
| Medical Office Building | 11,520 Square Feet |
4+ Years | $209,761 |
Investment Highlights
Minimal Landlord Responsibilities
The lease is structured on an net basis, whereby the tenant is responsible for all expenses related to the premises and building, excluding the structure and roof.
High-Volume, Five-Provider Practice
Five dentists operate at the subject property, placing it well above the single or dual-provider profile typical of dental real estate. A multi-provider operation of this size reflects substantial patient volume, chair utilization, and service capacity at the unit level.
Corporately Backed Lease
The Heartland Dental lease was executed by the tenant's corporate entity, Heartland Dental, LLC. Heartland Dental is the largest dental support organization (DSO) in the U.S, supporting over 1,900 dental offices in 38 states.
100% Occupied by Three Medical Tenants
The 11,520 SF building is fully leased to a roster of three complementary medical users. Multi-tenant occupancy diversifies the rent roll and mitigates the rollover exposure inherent to single tenant assets, while healthcare uses provide the operational stickiness and high tenant-retention profile characteristic of the medical sector.
Low Price Per SF
At 11,520 total square feet, the subject property is listed at the low price per square foot of $208/SF.
| Facility Type | Building Area (SF) | Years Remaining | Net Operating Income |
|---|---|---|---|
| Medical Office Building | 11,520 Square Feet |
4+ Years | $209,761 |
Offering
Peranich Huffman Net Lease Group is pleased to offer for sale, the Heartland Dental-Anchored Medical Office Building located in Frostburg, MD. Priced at an 8.74% capitalization rate, the offering provides an investor with the opportunity to acquire a medical asset that is anchored by a national dental service organization that supports 1,900+ dental offices.
Leases
The 11,520 square-foot property is tenanted by Heartland Dental, Palaisa Orthodontics and Med Spa. Heartland Dental has 4+ years of lease term remaining with (2) 5-year renewal options at fair market value (rent cannot decrease), Palaisa Orthodontics has 1 year of lease term remaining, while Med Spa has 5 years of lease term remaining.
Tenants
Heartland Dental, the largest dental support organization (DSO) in the U.S., delivers comprehensive support in wide range of administrative, operational, and business services to dental practices of all sizes. Through its network of 1,900+ supported offices since 1997 and 3,100+ supported doctors across 39 state, the company employs over 25,000 team members within the Heartland Dental family.
Palaisa Orthodontics provides orthodontics services with an emphasis on unique treatment, affordability, convenience and technology. At the subject property, Heartland Dental and Palaisa Orthodontics share a symbiotic relationship with one another while creating a single location for comprehensive dental health.
Med Spa leases the 1,152 SF bottom-floor suite and offers day spa restorative treatments with medical-grade non-surgical cosmetic procedures.