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DOM: 125 Updated: 08.26.23 Posted: 03.24.23 Status: Sold 07.27.23

Summary

Price $9,000,000 $10,110,000
Built/Renov 2006
Tenant Tutor Time
Cap Rate 9.83% 8.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 18,252
Lease Start 04-03-2007
#Units 200
Price/SF $493.10 $553.91
Expiration 04-02-2029
Tenant Type Daycare/Education
NOI $884,647
R. Term 3.9
Ownership Fee Simple
Rent/SF $48.47
Increases 0.0%/1/yrs
Pop 5Mi 389,879
Lot/AC 1.99
Options 2/5yrs/1.75%
AHHI 5Mi $87,462

Highlights

  • Tutor Time has a 16+ year operating history at this location
  • The tenant has 6 years remaining on its current lease with 2 (5-year) options to extend
  • Lease features annual 1.75% rental increases throughout the initial term and option periods
  • Absolute NNN with zero responsibilities
  • Corporate guarantee by Learning Care Group

Location Description

Tutor Time is located at the signalized, hard corner intersection of West Thunderbird Rd and North 59th Drive with a combined 72,700 vehicles passing by daily. The property is located less than a mile west of Banner Thunderbird Medical Center, a 595-bed hospital, further increasing consumer traffic to the trade area. Additionally, the asset is less than 2 miles west of Deer Valley, an 88,000...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Tutor Time
  • Guarantor:Corporate
  • Company:Learning Care Group
  • # Units:200
  • Stock:Private

About Tenant

Tutor Time was established in 1988 in Boca Raton, Florida. Today, there are 200 corporate and franchise schools throughout the United States, Hong Kong and Indonesia. Tutor Time is dedicated to...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 14,759 134,159 386,369
2023 Total Population : 15,012 135,858 389,491
2023 Employed Civilian Pop : 7,554 69,563 195,229
2023 Total Businesses : 380 3,113 9,803
2023 Average Household Income : $ 90,835 $ 97,691 $ 90,299
2023 Total Consumer Spending : $ 453 M $ 4123 M $ 11529 M
2023 Median Age : 39 39 38
2023 Total Households : 5,761 48,908 147,116
2023 Pop Age 25+: Bachelor's Degree : 1,851 16,031 47,873
2023 Average Home Value : $ 402,971 $ 387,243 $ 376,438
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Thunderbird Rd N 59th Ave 2010 34,802 0.07 mi
N 59th Ave W Thunderbird Rd 2010 31,284 0.09 mi
W Thunderbird Rd N 57th Dr 2010 37,977 0.11 mi
N 59th Ave Arizona Canal 2010 32,386 0.27 mi
West Thunderbird Road N 59th Ave 2019 28,493 0.39 mi
North 59th Avenue W Saint Moritz Ln 2018 19,310 0.57 mi
W Thunderbird Rd N 64th Dr 2015 26,800 0.57 mi
N 59th Ave W Acoma Dr 2015 25,700 0.58 mi
W Thunderbird Rd N Apartment 2015 31,400 0.68 mi
N 59th Ave W Larkspur Dr 2015 25,800 0.74 mi

Listing Broker

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