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Views: 151 Updated: 11.04.24 Posted: 11.16.23 Status: Sold

Summary

Price $8,400,000
Built/Renov 1949
Tenant The Franklin Montessori School
Cap Rate 6.14%
Lease Type NN+
Guarantor Corporate
Size/SF 18,900
Lease Start 10-16-2002
#Units 1
Price/SF $444.44
Expiration 08-31-2027
Tenant Type Daycare/Education
NOI $515,439
R. Term 2.8
Ownership Fee Simple
Rent/SF $27.27
Increases 3.0%/1/yrs
Pop 5Mi 300,750
Lot/AC 0.24
Options 0/0yrs
AHHI 5Mi $229,891

Lease Highlights

  • The Franklin Montessori School has been operating in this location since 2002
  • Tenant has 3+ years remaining on the current lease term
  • Favorable NN+ with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

The Franklin Montessori School is situated adjacent to the signalized intersection of Albemarle Street and Connecticut Avenue NW), a major DC/MD commercial and commuter corridor. The intersection sees 39,400+ combined vehicles passing by daily and offers outstanding visibility and frontage. The Franklin Montessori School is steps from the University of the District of Columbia, a short walk...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

The Franklin Montessori School is an accredited Montessori school by the American Montessori Society, that offers early childhood education from infancy up to pre-K aged children. Their school...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 27,783 309,121 734,288
2023 Total Population : 26,812 309,897 713,242
2023 Employed Civilian Pop : 17,915 196,909 446,597
2023 Total Businesses : 961 12,764 42,539
2023 Average Household Income : $ 205,939 $ 199,197 $ 187,857
2023 Total Consumer Spending : $ 2420 M $ 23757 M $ 51444 M
2023 Median Age : 39 37 37
2023 Total Households : 14,093 141,818 323,920
2023 Pop Age 25+: Bachelor's Degree : 6,351 64,757 153,841
2023 Average Home Value : $ 1,051,564 $ 1,006,116 $ 943,139
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Connecticut Ave NW Albemarle St 2010 37,300 0.07 mi
Albemarle St 32nd St NW 2008 4,400 0.11 mi
Connecticut Ave NW Brandywine St NW 2011 37,536 0.18 mi
Connecticut Ave NW Veazey Ter NW 2002 37,300 0.20 mi
Connecticut Avenue Northwest Chesapeake St NW 2017 29,092 0.27 mi
Albemarle St 30th St NW 2008 1,000 0.28 mi
Connecticut Ave NW Van Ness St NW 2002 37,300 0.29 mi
Brandywine St NW Gates Rd NW 2010 1,600 0.29 mi
Connecticut Avenue Northwest Van Ness St NW 2018 29,240 0.31 mi
Van Ness Street Northwest Connecticut Ave NW 2018 8,089 0.31 mi

Listing Broker

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