OM — Heartland Dental / UnityPoint Clinic, Ankeny IA

Offering memorandum (Hanley Investment Group) for the two-tenant medical asset at 1055 & 1075 SW Oralabor Road, Ankeny, IA. Occupied by Heartland Dental and UnityPoint Clinic Express on NNN leases, 2021 construction, 100% occupied, 8,348 SF on 1.78 acres. Priced at $5,923,000 / 6.25% cap on $370,180 NOI, with a Heartland 10% bump in Jan 2028 lifting cap to 6.51%. A prior municipal lot-split approval gives future parcelization optionality.

Key Facts¶

Heartland Dental: 4,348 SF, lease to 12/31/2032, $35.00/SF, three 5-yr renewals at 10%.
UnityPoint Clinic Express: 4,000 SF, lease to 04/30/2031, $54.50/SF, NO renewal options.
UnityPoint is Fitch AA-; tenant entity Iowa Physicians Clinic Medical Foundation.
Ankeny: 4th fastest-growing U.S. city; Des Moines MSA #1 fastest-growing Midwest metro.
Not absolute NNN, but minimal landlord responsibilities.