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Views: 62 DOM: 233 Updated: 03.13.24 Posted: 09.29.23 Status: Active

Summary

Price $5,357,000
Built/Renov 2024
Tenant The Learning Experience
Cap Rate 7.00%
Lease Type NN+
Guarantor Corporate
Size/SF 10,000
Lease Start 02-01-2024
#Units 340
Price/SF $535.70
Expiration 02-01-2039
Tenant Type Daycare/Education
NOI $375,000
R. Term 14.8
Ownership Fee Simple
Rent/SF $37.50
Increases 10.0%/5/yrs
Pop 5Mi 133,192
Lot/AC 1.21
Options 2/5yrs/9%
AHHI 5Mi $94,864

Lease Highlights

  • Brand new 2023 construction includes roof + building warranties
  • The Learning Experience recently signed a brand new 15-year lease with 2 (5-year) options to extend
  • Lease features 10% rental increases throughout the initial term and at the start of each option
  • Favorable NN+ lease with landlord responsible for roof & structure 
  • Corporate guaranteed lease

Location Description

This newly constructed The Learning Experience is strategically located along North Council Road with access to 19,000 vehicles per day. The site is situated within a dense residential area providing a direct consumer base for the site to draw from. National/credit tenants in the area include Dollar General, Walmart, Walgreens, McDonalds, CVS and more. The 5-mile trade area is supported by a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

The Learning Experience is an early childcare chain that develops and implements ground-breaking care and early childhood education programs throughout the country. TLE is one of America’s fastest...


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Listing Broker

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