Granger Dental & Orthodontics (OBL) 14911 In-23 7,358 SF Retail Building Granger, IN 46530 $2,669,763 CAD ($362.84 CAD/SF) 7.26% Cap Rate
EXECUTIVE SUMMARY
TENANT & INDUSTRY:
ESTABLISHED & GROWING OPERATOR – The anchor tenant is part of Our Best Life Companies, a rapidly expanding dental support organization (DSO) with 15 locations.
RECESSION-RESISTANT ASSET – Healthcare real estate remains a highly sought-after investment due to its stability, strong tenant retention, and insulation from economic downturns and e-commerce disruption.
SUCCESSFUL INDUSTRY – The dental market is projected to grow at a 7.4% CAGR from 2022-2029 (Fortune Business Insights), ensuring longterm demand for dental services.
PROPERTY & LOCATION:
HIGH TRAFFIC LOCATION – Positioned directly off Highway 23, this property benefits from strong visibility and accessibility, just five minutes from a major shopping mall featuring national tenants such as Macy’s, Sephora, Olive Garden, Best Buy, Costco, and Target.
VALUE ADD POTENTIAL – The office building included in the sale features partial vacancy and all gross leases with no option periods, presenting a prime opportunity to increase cash flow through lease restructuring, converting to NNN leases, or securing long-term tenants at market rates. This flexibility allows investors to unlock additional value and enhance overall asset performance.
HOSPITAL PROXIMITY – The Beacon Granger Hospital is less than a mile from the subject property.
2% ANNUAL RENTAL INCREASES – The anchor tenant lease features 2% annual rent increases, providing investors with growing cash flow and a hedge against inflation.
TENANT INVESTMENT IN LOCATION – Dental support organizations rarely relocate due to high build-out costs and difficulty in retaining the same patients after moving.
Broker of Record
Kyle Matthews
License No. RC52200195 (IN)
ESTABLISHED & GROWING OPERATOR – The anchor tenant is part of Our Best Life Companies, a rapidly expanding dental support organization (DSO) with 15 locations.
RECESSION-RESISTANT ASSET – Healthcare real estate remains a highly sought-after investment due to its stability, strong tenant retention, and insulation from economic downturns and e-commerce disruption.
SUCCESSFUL INDUSTRY – The dental market is projected to grow at a 7.4% CAGR from 2022-2029 (Fortune Business Insights), ensuring longterm demand for dental services.
PROPERTY & LOCATION:
HIGH TRAFFIC LOCATION – Positioned directly off Highway 23, this property benefits from strong visibility and accessibility, just five minutes from a major shopping mall featuring national tenants such as Macy’s, Sephora, Olive Garden, Best Buy, Costco, and Target.
VALUE ADD POTENTIAL – The office building included in the sale features partial vacancy and all gross leases with no option periods, presenting a prime opportunity to increase cash flow through lease restructuring, converting to NNN leases, or securing long-term tenants at market rates. This flexibility allows investors to unlock additional value and enhance overall asset performance.
HOSPITAL PROXIMITY – The Beacon Granger Hospital is less than a mile from the subject property.
2% ANNUAL RENTAL INCREASES – The anchor tenant lease features 2% annual rent increases, providing investors with growing cash flow and a hedge against inflation.
TENANT INVESTMENT IN LOCATION – Dental support organizations rarely relocate due to high build-out costs and difficulty in retaining the same patients after moving.
Broker of Record
Kyle Matthews
License No. RC52200195 (IN)
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,358 SF
Building Class
B
Year Built/Renovated
1996/2021
Price
$2,669,763 CAD
Price Per SF
$362.84 CAD
Cap Rate
7.26%
NOI
$193,825 CAD
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Lot Size
0.72 AC
Zoning
Residential Commercial
Frontage
117’ on In-23 Hwy
AMENITIES
- Pylon Sign
- Security System
- Air Conditioning
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 71-04-23-101-016.000-011 | Improvements Assessment | $478,686 CAD |
| Land Assessment | $258,085 CAD | Total Assessment | $736,771 CAD |
CONTACTS
-
Seamus O'Brien -
Thor St John -
Michael Moreno -
Rahul Chhajed -
Matthews Real Estate Investment Services
