8644 Addison Pl Dr Naples, FL 34119
- Office Properties & Spaces
- 4,260 SF
- 0.57 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 8644 Addison Pl Dr
- Lot size
- 0.57 lot acres
- Property size
- 4,260 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity presents a 4,260 square foot medical office building in Naples, FL, currently leased to Heartland Dental, a subsidiary of KKR, under a 10-year Net Lease (NN+) agreement commencing December 29, 2021, and expiring December 31, 2031. The property boasts a strong 5.75% cap rate and a substantial NOI of $178,920. Situated on a 0.57-acre lot at 8644 Addison Pl Dr, Naples, FL 34119, this building benefits from a prime location with high visibility from Immokalee Road, experiencing daily traffic of 54,500 vehicles. The property is part of a development including Chick-fil-A and ALDI, ensuring high foot traffic and brand recognition. The tenant, Heartland Dental, is the largest dental support organization in the U.S., demonstrating financial stability and growth potential. The lease includes rent bumps, providing for increased income over time. This property is ideally suited for a 1031 exchange. The affluent surrounding area, with an average household income exceeding $149,257 within a three-mile radius, and projected growth of over 17% within the next five years, further enhances the investment's appeal. Proximity to major retailers like Publix, CVS, and Starbucks, along with nearby schools and golf courses, contributes to a strong and stable market. New construction completed in 2021.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Naples
- County
- Collier
- State
- Florida
- Longitude
- -81.6928
- Latitude
- 26.2732
