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Views: 83 Updated: 03.26.24 Posted: 06.21.23 Status: Inactive

Summary

Price $5,905,000
Built/Renov 2001/2022
Tenant Primrose Schools
Cap Rate 7.00%
Lease Type NN+
Guarantor Franchisee
Size/SF 12,654
Lease Start 07-08-2022
#Units 2
Price/SF $466.65
Expiration 09-30-2042
Tenant Type Daycare/Education
NOI $413,337
R. Term 17.10
Ownership Fee Simple
Rent/SF $32.66
Increases 2.0%/1/yrs
Pop 5Mi 320,242
Lot/AC 2.10
Options 3/5yrs/2%
AHHI 5Mi $106,820

Lease Highlights

  • Primrose Schools recently signed a brand new 20 year lease with 3 (5-year) options to extend
  • Lease features 2% annual rental increases throughout the initial term and each option period
  • Favorable NN+ lease with landlord responsible for structure
  • Personal guarantee by IDEAKANN 2, LLC

Location Description

The site is strategically located off West Alexander Road, a major thoroughfare averaging over 29,400 vehicles per day. The property also benefits from excellent visibility via street frontage and has multiple points of ingress/egress. Furthermore, the asset is ideally situated across the street Edith Garehime Elementary School (617 students), providing parents with an easy one-stop drop-off...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Primrose Schools
  • Guarantor:Franchisee
  • Company:Ideakann LLC.
  • # Units:2
  • Stock:Private

About Tenant

Primrose Schools is a national system of accredited early childhood education centers. Primrose offers full private childhood education and care for children ages 6 weeks to 6 years and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 17,763 115,727 326,890
2023 Total Population : 17,503 114,103 321,799
2023 Employed Civilian Pop : 8,721 54,370 154,851
2023 Total Businesses : 172 2,740 7,586
2023 Average Household Income : $ 123,970 $ 116,908 $ 103,648
2023 Total Consumer Spending : $ 650 M $ 4680 M $ 11316 M
2023 Median Age : 41 45 40
2023 Total Households : 6,172 46,662 126,670
2023 Pop Age 25+: Bachelor's Degree : 2,993 21,233 49,648
2023 Average Home Value : $ 474,601 $ 485,866 $ 463,335
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Gilmore Ave N Dorrington Dr 2002 867 0.04 mi
N Campbell Rd Gilmore Ave 2002 1,154 0.04 mi
N Cambell Rd W Sidebrook Ct 2013 757 0.07 mi
W Lawton Pine Ave W Lawton Pine Dr 2011 204 0.10 mi
Gilmore Ave N Campbell Rd 2002 867 0.11 mi
Gilmore Ave Echo Lake St 2017 1,720 0.19 mi
N Fort Apache Rd W Gilmore Ave 2017 4,269 0.22 mi
N Fort Apache Rd W Gilmore Ave 2009 2,983 0.23 mi
Gilmore Ave el Capitan Way 2002 1,916 0.25 mi
W Gilmore Ave N Fort Apache Rd 2004 2,007 0.26 mi

Listing Broker

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