Overview
Matthews™ Healthcare Division is pleased to offer qualified investors a high quality opportunity to acquire a single-tenant dental free standing condo in Manhattan, KS. Manhattan Oral Surgery and Implant Center is partnered with US Oral Surgery Management, one the country’s largest specialty-focused support organization in the country with over 180+ locations across 25+ states. The tenant acquired this practice.
In 2023, at which point they signed a 5 year NNN lease, providing a significant testament to their success and commitment to the location in the future. This site is uniquely located in an irreplaceable medical destination location, surrounded by other medical specialties which creates synergy and medical concentration each tenant benefits from. The location is also positioned less than 10 minutes from Kansas State University, with over 21,000+ students. The lease also features an ideal structure with 3.00% annual rental increases throughout the term, providing a hedge against inflation and increase in cash flow for the future ownership.
Investment Highlights
- Best In Class Tenant: US Oral Surgery Management is one of the largest specialty focused dental organizations in the country, with over 180+ locations across 26+ states, and continues to expand by acquiring successful practices.
- NNN Lease Structure: The NNN lease structure offers a nearly passive investment opportunity for both local and national investors.
- 5 Year NNN Lease: The tenant executed a brand new 5 Year lease in March 2023 with 3% annual rental increases, providing growing cash flow and a hedge against inflation.
- Streamlined Expansion: USOSM expands by acquiring established practices, and the class-A build out and specialized healthcare tenancy provide security as dental facilities rarely relocate.
- Strategic Location: The property is in a recently constructed medical office park, surrounded by other medical and dental specialties, creating the densest concentration of medical operators in Manhattan.
- Kansas State University Proximity: The property is less than 10 minutes from Kansas State University, with over 21,000 students, providing a large patient base.
- Robust Demographics: The average household income is over $110,000 in a 1-mile radius, and the 5-mile population exceeds 60,000 residents, supporting a strong customer base.
- Prominent Retail Corridor: The location is near high-income residential communities and a retail corridor anchored by national tenants like Dillons, Marshall’s, McDonald’s, Starbucks, Hy-Vee, Harbor Freight, and BestBuy.
- Further Expansion & Investment: Ownership is investing in site enhancements, including additional adjacent parking to support high customer demand and strong traffic volumes.
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