Cadence Academy

7131 Market Street, Wilmington, NC 28411

$5,403,534

Cap Rate 6.00%

Views: 33 DOM: 29 Updated: 11.01.24 Posted: 10.23.24 Status: Active

Summary

Price $5,403,534	Built/Renov 2005	Tenant Cadence Academy
Cap Rate 6.00%	Lease Type NN+	Guarantor Corporate
Size/SF 12,355	Lease Start 12-02-2005	#Units 300
Price/SF $437.36	Expiration 12-31-2034	Tenant Type Daycare/Education
NOI $324,212	R. Term 10.1	Ownership Fee Simple
Rent/SF $26.24	Increases 2.0%/1/yrs	Pop 5Mi 91,805
Lot/AC 1.67	Options 0/0yrs/2%	AHHI 5Mi $75,586

Lease Highlights

Cadence Academy has been operating in this location since 2005
The tenant has 10 years remaining on the current lease term | Tenant paying $25.22/ SF with no renewal options at end of term
Minimal Landlord responsibilities | Landlord responsible for foundation, load-bearing walls & structural members of demised premises
Corporate guaranteed lease

Location Description

Cadence Academy is strategically located on Market Street, with access to a robust daily traffic count of 50,103 vehicles. The property is conveniently situated off Highway 17, a primary thoroughfare known for its high visibility. Additionally, it is only 15 minutes from Wilmington International Airport and within proximity to nearby feeder elementary schools, including Murrayville, Porters...

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Key Features

Build to suit
In location for years
High traffic 50M+ VPD
Highway location
Affluent suburb location
Major MSA
Long 10+ yr lease
Favorable NN+ lease
Annual rent increases
Corporate Guarantee

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Links

Cadence Academy Wikipedia Wilmington, North Carolina Zip Code 28411 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Cadence Academy
Guarantor:Corporate
Company:Apax Partners
# Units:300
Stock:Private

About Tenant

Cadence Education is one of the largest providers of early childhood care in the United States. Cadence Education programs are tailored to each developmental stage in children from six weeks to 12...

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Listing Broker

Seth Krepistman

Sands Investment Group

Contact

20 Listings
1491 Views
3 Sold

Connor Brady

Sands Investment Group

Contact

8 Listings
585 Views
0 Sold

Seth Krepistman

Sands Investment Group is a commercial real estate brokerage firm that specializes in the buying and selling of investment properties for private investors and institutions across the United States. Advisors with the company currently have over $1.4 billion in active inventory. As a leader in the industry, SIG was first to offer true sub-product type specialization. The firm’s experience in net lease, shopping centers, retail, office, self storage and industrial transactions is unparalleled. Sa

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Connor Brady

Investment Sales Advisor for Sands Investment Group specializing in the acquisition, disposition, and financing of net lease early education properties nationwide.

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Elan Sieder

Sands Investment Group

Contact

19 Listings
1491 Views
3 Sold

Max Freedman

Sands Investment Group

Contact

60 Listings
4233 Views
8 Sold

Elan Sieder

With over a decade of experience, Elan has handled over 650 real estate transactions. He has worked closely with tenants, family offices and developers as a strategic partner to help facilitate their growth strategies. Elan has always loved connecting with people which has made him a trustworthy partner his clients can rely on. Through developing these meaningful relationships, Elan has had the privilege to invest alongside his clients. His clients and partners fuel his tenacity and motivati

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Max Freedman

Max Freedman is a recognized industry leader focused on the Restaurant/C-Store real estate, heads the Austin office and the SIG Restaurant Group. Max is a founding partner and opened the first SIG office in Santa Monica, CA in 2009, with Chris Sands. He has excelled in building the company’s team culture and strategies you see today. Max has a strong team mentality and has had an integral part in recruiting several agents to Sands Investment Group. SIG’s restaurant group consists of nine agen

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