Highlights
• Corporate-guaranteed lease with Heartland Dental, the largest U.S. DSO (1,800+ locations, $3.6B revenue). • Built-in rent growth: 10% increases every five years. • Prime outparcel at top Publix in Plantation Square (2.4M annual visitors). • Rare absolute NNN 12-year lease: Tenant covers all operating and capital expenses, no landlord responsibilities. • Long-term, sticky use: Specialized buildout and strong performance make relocation rare; closures nearly nonexistent. • Located in Lakeland, fastest-growing U.S. city: 12.1% growth since 2020, 19.5% projected over five years.
Description
Pegasus Investments Real Estate Advisory Inc. and ParaSell, Inc., serving as exclusive investment sales advisors to the seller, are pleased to present the fee simple interest in a brand-new, redevelopment-to-suit Heartland Dental in Lakeland, Florida. The property is leased on a corporate-guaranteed Absolute NNN basis to Heartland Dental, the largest dental support organization (DSO) in the U.S., providing investors with stable, long-term, truly passive income. The 12-year primary lease includes 10% rental increases every five years and in each of the four 5-year renewal options, delivering strong built-in growth. Strategically located as an outparcel to Plantation Square, a well-established Publix-anchored center attracting 2.4 million annual visitors, the property enjoys excellent visibility at the high-traffic intersection of N Socrum Loop Road and Old Combee Road. The center also hosts national tenants such as CVS, McDonald’s, Truist Bank, Subway, and The UPS Store, along with popular regional operators. Lakeland, Florida’s fastest-growing metro, benefits from proximity to I-4, Central Florida’s primary interstate connecting Tampa and Orlando, and from surrounding residential neighborhoods, including the Links of Sandpiper golf community, which drive consistent daytime and evening traffic. Heartland Dental’s corporate lease guaranty adds significant credit strength to the investment. Operating over 1,800 locations in 39 states and D.C., Heartland is backed by private equity firm KKR and reported $3.6 billion in revenue in 2024, opening more than 130 new offices, expanding into new states, and enhancing its AI-driven clinical tools through partnerships with VideaHealth and Henry Schein One, supporting a network of over 20,000 clinicians. This scale, consistent growth, and ongoing innovation underscore Heartland’s long-term stability as a tenant. Lakeland’s economy is anchored by the corporate headquarters of Publix Super Markets, employing more than 6,500 local residents and generating over $100 million in recent investments, including a new downtown tech campus projected to add 200 high-paying jobs by 2028. The city also attracts tourism and cultural traffic through attractions such as Publix Field at Joker Marchant Stadium, Florida Air Museum, and LEGOLAND Florida Resort. These economic and demographic drivers position Lakeland as a dynamic Central Florida hub, offering investors a rare combination of long-term stability, growth potential, and a high-credit tenant in a thriving market.
Listing Details
- Cap Rate
5%
- Tenancy
Single
- Space Type
office
- Sub Category
medical
- Sale Type
Investment Sale
- Date Listed
10/8/2025
- Ownership Info
Fee Simple
- Broker/Agent Co-op
Yes
- Investment Type
Net Lease
- Net Operating Income
$212,360
- Parking Info
27 Spaces
- Typical Floor Size
5,309 SF
- Building FAR
0.12
Property Specifics
- Property Name
Absolute NNN Heartland Dental | 5301 N Socrum Loop Rd
- Property Class
B
- No of Buildings
1
- No of Stories
1
- No of Units
1
- Year Built
2023
- Building Size
5,309 SF
- Lot Size
0.98 AC
- APN
24-27-30-000000-013060
- Zoning
C3
- Occupancy
100%