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Views: 91 DOM: 138 Updated: 09.30.24 Posted: 05.16.24 Status: Sold 10.02.24

Summary

Price $5,661,000
Built/Renov 2024
Tenant The Learning Experience
Cap Rate 7.16%
Lease Type NN+
Guarantor Corporate
Size/SF 9,990
Lease Start 06-01-2024
#Units 400
Price/SF $566.67
Expiration 05-31-2044
Tenant Type Daycare/Education
NOI $405,095
R. Term 19.5
Ownership Fee Simple
Rent/SF $40.55
Increases 6.0%/5/yrs
Pop 5Mi 178,611
Lot/AC 1.07
Options 2/5yrs/8%
AHHI 5Mi $93,333

Lease Highlights

  • Brand new 2024 construction
  • The Learning Experience recently executed a brand new 20-year lease with 2 (5-year) options to extend
  • The lease features 6% 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 near the hard corner intersection of N. Blythe Ave and W. Herndon Ave, with access to a combined daily traffic count of 22,000 vehicles. Conveniently located just off East of Highway 99, the property is surrounded by well-known national tenants, including CVS, Target, Hobby Lobby, Wells Fargo, various quick-service restaurants, medical care...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 12,576 83,054 183,183
2024 Total Population : 12,703 82,079 181,416
2024 Employed Civilian Pop : 6,137 39,983 84,187
2024 Total Businesses : 471 3,444 8,454
2024 Average Household Income : $ 118,016 $ 121,252 $ 108,225
2024 Total Consumer Spending : $ 472 M $ 3049 M $ 5934 M
2024 Median Age : 37 37 36
2024 Total Households : 4,603 28,819 62,539
2024 Pop Age 25+: Bachelor's Degree : 2,174 13,074 24,444
2024 Average Home Value : $ 487,748 $ 490,560 $ 456,203
*ESRI data is presented for informational purposes only

Listing Broker

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