Nest Schools

600 North State Street, Westerville, OH 43082

$3,450,704

Cap Rate 7.10%

Views: 126 DOM: 85 Updated: 11.11.24 Posted: 08.28.24 Status: Active

Summary

Price $3,450,704	Built/Renov 2007/2023	Tenant Nest Schools
Cap Rate 7.10%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 9,740	Lease Start 03-12-2021	#Units 51
Price/SF $354.28	Expiration 03-31-2041	Tenant Type Daycare/Education
NOI $245,000	R. Term 16.4	Ownership Fee Simple
Rent/SF $25.15	Increases 2.0%/1/yrs	Pop 5Mi 197,540
Lot/AC 1.35	Options 2/10yrs/2%	AHHI 5Mi $125,854

Lease Highlights

The Nest Schools has 16+ years remaining on the current lease term with 2 (10-year) options to extend
The lease features 2% annual rental increases throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate lease signator and very strong personal guarantees from the Founders of Nest

Location Description

Nest Schools is strategically located on N State Street, with access to 23,506 vehicles passing by daily. The property is surrounded by well-known national tenants, including Home Depot, Kroger, Walgreens, and Market District Supermarket. Within a 5-mile radius, there are over 11 feeder elementary schools, including Wilder, Huber Ridge, Pointview, McVay, Cherrington, and Robert Frost, among...

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Key Features

Dense retail corridor
Near major nationals
Strategically located
Top 100 MSA
Strong demographics
Long 15+ yr lease
Absolute NNN
Annual rent increases
Corporate Guarantee
Personal guarantee

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Links

Nest Schools Wikipedia Westerville, Ohio Zip Code 43082 Broker Site Page

Maps

Local Information

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

Andrew Gilbert

Sands Investment Group

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14 Listings
1469 Views
2 Sold

Scott Reid

ParaSell, Inc

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35 Listings
2175 Views
5 Sold

Andrew Gilbert

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. Since its founding in 2010, SIG has closed over 4,100 plus transactions worth more than $8 Billion in 48 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 experi

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Scott Reid

ParaSell, Inc. is a national real estate services and consulting firm that specializes in commercial leasing and investment sales. We work with principals across the nation and have a proven process, proprietary time-saving technology, dedicated support staff and a relentless commitment to customer service.

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Clifton McCrory

Sands Investment Group

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37 Listings
2714 Views
4 Sold

Ryan Sompayrac

Sands Investment Group

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11 Listings
1221 Views
3 Sold

Clifton McCrory

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Ryan Sompayrac

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