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The Learning Experience
1565 W Smokey Row Rd, Greenwood, IN 46143
$4,117,647
Cap Rate 6.80%
Summary
| Price $4,117,647 | Built/Renov 2023 | Tenant The Learning Experience |
| Cap Rate 6.80% | Lease Type
NN+ | Guarantor Corporate |
| Size/SF
10,000
| Lease Start
05-01-2023
| #Units
340
|
| Price/SF $411.76 | Expiration
04-30-2043
| Tenant Type Child Care |
| NOI $280,000 | R. Term 19.4 | Ownership Fee Simple |
| Rent/SF
$28.00
| Increases 11.0%/5/yrs | Pop 5Mi 109,903 |
| Lot/AC 1.05 | Options 2/5yrs/11% | AHHI 5Mi $109,482 |
| | |
Lease Highlights
- New 2023 build-to-suit construction
- The Learning Experience recently signed a brand new 20-year lease with 2 (5-year) options to extend
- Lease features 11% rental increases every 5 years throughout the initial term and at the start of each option period
- Favorable NN+ lease with landlord responsibilities limited to roof & structure
- Corporate guarantee by Golden Gate Capital
Location Description
This newly constructed 10,000 square-foot property is situated on a 1.05-acre lot along West Smokey Row Road with access to 2,359 vehicles per day. The site benefits from its proximity to US Hwy 31 (24,750 VPD) and Interstate 65 (80,099 VPD). National/credit tenants in the area include Kroger, Lowe’s, Target, Walmart, Best Buy and more. Additionally, there are multiple schools in the...
...Features
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New construction
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Near major nationals
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Freeway close
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Highway close
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Dense 100M+ pop 5 mi
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Affluent AHHI $100K 5 Mi
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Brand new lease
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Long 20+ yr lease
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Favorable NN+ lease
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Corporate Guarantee
...
Maps
Tenant
- Tenant: The Learning Experience
- Guarantor:Corporate
- Company:Golden Gate Capital
- # Units:340
- Stock:Private
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...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 2,136 | 42,441 | 114,572 |
| 2023 Total Population : | 2,145 | 41,796 | 111,690 |
| 2023 Employed Civilian Pop : | 1,121 | 21,453 | 59,531 |
| 2023 Total Businesses : | 45 | 593 | 2,592 |
| 2023 Average Household Income : | $ 149,363 | $ 129,921 | $ 115,675 |
| 2023 Total Consumer Spending : | $ 86 M | $ 1631 M | $ 4147 M |
| 2023 Median Age : | 39 | 38 | 39 |
| 2023 Total Households : | 686 | 14,682 | 41,709 |
| 2023 Pop Age 25+: Bachelor's Degree : | 452 | 7,958 | 19,157 |
| 2023 Average Home Value : | $ 450,309 | $ 325,243 | $ 287,846 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| County Road 600 North | Honeycreek Rd | 2021 | 3,518 | 0.02 mi |
| Local | Honeycreek Rd | 2020 | 3,306 | 0.02 mi |
| Smokey Row Rd | State Rd 135 | 2018 | 2,481 | 0.34 mi |
| Honeycreek Rd | Smokey Row Rd | 2019 | 6,114 | 0.53 mi |
| Honeycreek Road | Smokey Row Rd | 2021 | 5,745 | 0.53 mi |
| County Road 600 North | Honeycreek Rd | 2021 | 4,922 | 0.63 mi |
| Smokey Row Rd | Tremont Dr | 2006 | 1,712 | 0.67 mi |
| Honeycreek Road | Smokey Row Rd | 2018 | 3,210 | 0.69 mi |
| County Road 300 W | Clary Blvd Dr S | 2018 | 19,384 | 0.71 mi |
| Honeycreek Road | Stone Ridge Ct | 2018 | 7,631 | 0.80 mi |
