15884 Hull Street Rd - Retail FOR SALE


Chesterfield, VA 23832
$3,494,000 USD
913-669-6422
15884 Hull Street Rd, Chesterfield, VA for Sale
$3,494,000 USD
Retail - FOR SALE
1/6
null | 5.25% Cap Rate

15884 Hull Street Rd
Chesterfield, VA 23832


HIGHLIGHTS

  • Corporate-Guaranteed Lease: Backed by Heartland Dental, the largest Dental Support Organization in the U.S. with 1,800+ locations and $3.6B annual rev
  • Rare Absolute NNN 12-Year Lease: Zero landlord responsibilities; tenant covers all expenses.
  • Built-in Rent Growth: 10% increases every five years, including renewal options.
  • Long Term, Sticky Use: Specialized buildout and strong tenant history make relocation highly unlikely.
  • Outparcel to Top Grocery: Part of Cosby Village, anchored by Publix ranked in the top 5% of U.S. grocers.
  • Affluent Surrounding Demographics: $150K+ average household income within 3 miles, supported by upscale communities.

OVERVIEW

Pegasus Investments Real Estate Advisory Inc. and ParaSell, Inc., as exclusive investment sales advisors to the Seller, are pleased to present the opportunity to acquire the fee simple interest in a brand-new, build-to-suit Heartland Dental located in Chesterfield, Virginia, the fastest-growing suburb of Richmond (the “Property”). The Property is backed by a corporate-guaranteed Absolute NNN lease with Heartland Dental, the nation’s largest dental support organization, offering investors a passive and long-term cash-flowing asset. The 12-year primary term features 10% rent increases every five years, with additional increases through four 5-year renewal options, delivering built-in income growth. The Property is strategically located as an outparcel to the newly developed Cosby Village, a Publix-anchored lifestyle center positioned directly on Hull Street Road, the primary east-west thoroughfare connecting Richmond’s city center with the booming southeastern submarket. Cosby Village features a powerhouse national tenant lineup including Starbucks, Chipotle, Panera Bread, 7-Eleven, AutoZone, and Sherwin-Williams, drawing consistent regional traffic. The Property is surrounded by some of the region’s most ambitious and high-end residential developments, including Lennar’s 1,200-acre Harpers Mill, Magnolia Green, Foxcreek, and Woodlake. Within a 3-mile radius, average household incomes exceed $150,000, reinforcing the area’s high-spending consumer base and making the site one of the most promising retail and service nodes in the metro. 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 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 impressive scale, consistent growth, and continued investment in innovation reinforce its longterm stability as a tenant. Richmond’s broader economic engine further enhances the appeal of the investment. The city is home to a concentration of Fortune 500 companies, including Dominion Energy, CarMax, Altria Group, and Performance Food Group, as well as prominent employers like Markel, Owens & Minor, and Genworth Financial. It also hosts the global headquarters for Brink’s and Estes Express Lines, reinforcing its position as a leader in security and logistics. These companies support a high-income, diversified employment base, fueling consumer spending and providing strong fundamentals for real estate investors. With a unique mix of corporate strength, population growth, and quality-of-life appeal, Richmond remains one of the Southeast’s most resilient and dynamic metro markets for long-term investment.

FOR SALE DETAILS

PRICE

$3,494,000 USD

PRICE/SF

$830 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Absolute NNN Heartland Dental - Richmond MSA

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.47 AC

LAND SF

20,473 SF

ZONING

C-2

APN/PARCEL ID

713-67-04-51-500-000

ASK ABOUT THIS PROPERTY

Katherine WeaverPegasus InvestmentsMore Info
913-669-6422

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Katherine WeaverPegasus InvestmentsMore Info
913-669-6422

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.