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 5 years during base term and options. • Sticky tenancy: Specialized buildout and Heartland’s track record of rarely closing locations support long-term occupancy. • Absolute NNN lease: 12-year term, zero landlord responsibilities, tenant covers all expenses. • Affluent trade area: $155K+ average household income within 3 miles. • Prime surroundings: Adjacent to master-planned communities including Pulte, Del Webb, and River Town.
Description
Pegasus Investments Real Estate Advisory Inc., in conjunction with ParaSell, Inc., as exclusive investment sales advisors to the Seller, is pleased to present the opportunity to acquire a brand-new, build-to-suit Heartland Dental located in St. Johns, Florida, the fastest-growing county in Florida and the 4th fastest-growing in the United States (the “Property”). The Property is secured by a corporate-guaranteed Absolute NNN lease with Heartland Dental, the nation’s largest dental support organization, offering investors a passive, long-term cash-flowing asset. The 12-year primary lease includes 10% rent increases every five years, with additional increases through four 5-year renewal options, providing built-in income growth. Strategically located at the intersection of Greenbriar Road and Longleaf Pine Parkway, the Property benefits from high visibility and strong co-tenancy. It is shadow-anchored by a Publix-anchored shopping center and surrounded by national brands including Chase Bank, Dunkin’, Mavis, and Jeremiah’s Italian Ice. Within a 3-mile radius, average household incomes exceed $155,000, highlighting the area’s affluent demographics. The Property is supported by multiple large-scale residential communities, including The Landings at St. Johns, a 963-acre Pulte master plan, and Del Webb’s 55+ resort-style enclave, with the massive 4,000-acre RiverTown development just south of the site. This confluence of affluent residents, strong traffic, and rapid residential growth underscores the Property’s long-term investment appeal. Heartland Dental’s lease guaranty adds meaningful credit strength to the investment. As the nation’s leading DSO, Heartland supports more than 1,800 locations across 39 states and Washington, D.C., with strategic backing from private equity giant KKR. In 2024, Heartland reported $3.6B in annual revenue, added over 130 offices, expanded into new states, and continued to enhance its AI-driven clinical tools through partnerships with VideaHealth and Henry Schein One, supporting a network of more than 20,000 clinicians. Heartland’s scale, consistent growth, and ongoing innovation reinforce its long-term stability as a tenant. Situated in St. Johns County, one of Jacksonville’s most desirable and fastest-growing areas, the Property lies in a high-demand corridor driving southeast MSA expansion. As Jacksonville’s growth spreads toward St. Augustine, this market has emerged as a hub for new housing, infrastructure investment, and top-tier retail development. Supported by high-quality schools, a strong consumer base, and convenient access to metro Jacksonville and the Florida coastline, the area continues to attract upwardly mobile residents and long-term economic growth. This prime location, combined with Heartland Dental’s creditworthiness, creates a compelling opportunity for investors seeking stable income and long-term appreciation potential.
Property Documents
Heartland Dental St Johns FL Flyer.pdf
540.94 KB
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
$196,000
- Parking Info
23 Spaces (6.39 Spaces per 1,000 SF Leased)
- Typical Floor Size
3,600 SF
- Building FAR
0.1
Property Specifics
- Property Name
Absolute NNN Heartland Dental | 6915 Longleaf Pine Pky
- Property Class
B
- No of Stories
1
- No of Units
1
- Year Built
2025
- Building Size
3,600 SF
- Lot Size
0.85 Ac
- APN
001330-0074
- Zoning
PUD - PLANNED UNIT DEVELOPMENT (PUD)
- Occupancy
100%