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Views: 349 DOM: 110 Updated: 08.23.24 Posted: 05.21.24 Status: Active

Summary

Price $4,786,000
Built/Renov 2022
Tenant The Learning Experience
Cap Rate 7.00%
Lease Type NN+
Guarantor Corporate
Size/SF 10,000
Lease Start 08-04-2022
#Units 600
Price/SF $478.60
Expiration 10-31-2037
Tenant Type Daycare/Education
NOI $335,000
R. Term 13.1
Ownership Fee Simple
Rent/SF $33.50
Increases 10.0%/5/yrs
Pop 5Mi 68,012
Lot/AC 1.19
Options 2/5yrs/10%
AHHI 5Mi $97,255

Lease Highlights

  • New 2022 construction
  • The Learning Experience has 13+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

The Learning Experience is strategically located off South Point Road with access to 16,800 vehicles passing daily. The site is within close proximity to multiple schools providing a direct consumer base to draw from. Neighboring national/credit tenants in the area include Domino’s, Harris Teeter and Chick-fil-A. The 5-mile trade area is supported by 73,532 residents earning an average annual...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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...


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Listing Broker

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