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Views: 21 DOM: 36 Updated: 09.12.24 Posted: 08.14.24 Status: Active

Summary

Price $3,784,900
Built/Renov 1983/2023
Tenant Nest Schools
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 10,532
Lease Start 01-28-2022
#Units 51
Price/SF $359.37
Expiration 01-31-2037
Tenant Type Daycare/Education
NOI $264,943
R. Term 12.4
Ownership Fee Simple
Rent/SF $25.16
Increases 2.0%/1/yrs
Pop 5Mi 463,145
Lot/AC 1.30
Options 4/5yrs/10%
AHHI 5Mi $127,948

Lease Highlights

  • Nest Schools has 12+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 2% annual rental escalations throughout the initial term and 10% increases at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Strong corporate & personal guarantee

Location Description

Nest Schools is strategically located on Davenport Road, with a robust daily traffic count of 58,770 vehicles. The property benefits from its proximity to over 15 feeder elementary schools within a 5-mile radius and is just a 25-minute drive from Dallas Fort Worth International Airport. The immediate area features well-known national tenants, including Walmart, Target, Costco, PetSmart, Hobby...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Nest Schools
  • Guarantor:Corporate
  • Company:Rockbridge Growth Equity
  • # Units:51
  • Stock:Private

About Tenant

The Nest Schools is a private early childhood education provider offering daycare, preschool, and kindergarten programs. The company is known for its proprietary "Nest Play" curriculum, which is...


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Listing Broker

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