Kid City USA

374 Scott Avenue, Sarasota, FL 34243

$1,900,000

Cap Rate 7.89%

$2,068,966

Cap Rate 7.25%

Views: 102 DOM: 70 Updated: 09.12.24 Posted: 06.21.24 Status: Sold 08.30.24

Summary

Price $1,900,000 $2,068,966	Built/Renov 1994/2009	Tenant Kid City USA
Cap Rate 7.89% 7.25%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 6,435	Lease Start 06-21-2024	#Units 100
Price/SF $295.26 $321.52	Expiration 06-30-2039	Tenant Type Daycare/Education
NOI $150,000	R. Term 14.2	Ownership Fee Simple
Rent/SF $23.31	Increases 10.0%/5/yrs	Pop 5Mi 158,167
Lot/AC 0.98	Options 4/5yrs/10%	AHHI 5Mi $81,686

Lease Highlights

Brand-new 15-year lease with 4 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by Kid City USA Enterprises, Inc

Location Description

Kid City USA is strategically located on Scott Avenue, with access to 42,000 vehicles passing by daily. The property is conveniently situated near US Highway 41, a major north-south highway, and directly opposite Sarasota International Airport. Moreover, it is just a one-hour drive south of Tampa International Airport. The 5-mile trade area is supported by a population of 158,167 residents...

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Key Features

Build to suit
Strategically located
Highway close
Strong demographics
Income tax free state
Brand new lease
Long 15+ yr lease
Absolute NNN
Corporate Guarantee
Personal guarantee

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Links

Kid City USA Wikipedia Sarasota, Florida Zip Code 34243 Broker Site Page

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Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Kid City USA
Guarantor:Corporate
Company:Kid City USA Enterprises, Inc
# Units:100
Stock:Private

About Tenant

Kid City USA Enterprises, Inc. is a franchise childcare brand that offers preschool, daycare, and extended before & after school programs. Kid City USA is committed to exceptional childcare and...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	2,483	50,390	165,232
2024 Total Population :	2,502	49,456	158,009
2024 Employed Civilian Pop :	1,271	19,866	65,029
2024 Total Businesses :	342	2,921	9,347
2024 Average Household Income :	$ 106,905	$ 80,964	$ 89,753
2024 Total Consumer Spending :	$ 101 M	$ 1519 M	$ 5597 M
2024 Median Age :	50	45	49
2024 Total Households :	1,095	21,156	70,401
2024 Pop Age 25+: Bachelor's Degree :	321	5,909	21,901
2024 Average Home Value :	$ 473,539	$ 330,378	$ 460,532

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Tamiami Trail	Hernando Ave	2022	38,500	0.34 mi
Tallevast Road	Ponce de Leon Ave	2022	8,900	0.38 mi
Tallevast Rd	Pennsylvania Ave	2019	10,600	0.72 mi
Tallevast Road	Pennsylvania Ave	2022	9,800	0.78 mi
Pennsylvania Avenue	Ponderosa Pine L	2022	3,200	0.96 mi
Tamiami Trl	Poincianna Dr	2005	40,500	1.07 mi
Tallevast Rd	Clyde Jones Rd	2018	10,500	1.10 mi
Whitfield Avenue	Waverly St	2022	4,200	1.13 mi
Tamiami Trail	Main St	2022	43,000	1.18 mi
Tamiami Trail	General Spaatz B	2019	38,500	1.29 mi

Listing Broker

Seth Krepistman

Sands Investment Group

Contact

20 Listings
2861 Views
5 Sold

Andrew Ackerman

Sands Investment Group

Contact

61 Listings
11197 Views
30 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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Andrew Ackerman

Andrew is a seasoned CRE professional with over 10 years experience and has closed over $500M in transaction volume over the course of his career. Andrew has a proven track record in brokerage as well team management which he’s done in several capacities since first joining Marcus & Millichap in 2005. Before joining SIG, Andrew was a top producing agent at Stan Johnson Company’s Atlanta office, he brokered the closing of a 16-store sale leaseback for $26M while receiving the company’s Mento

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Max Freedman

Sands Investment Group

Contact

60 Listings
8894 Views
12 Sold

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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Kid City USA

374 Scott Avenue, Sarasota, FL 34243

$1,900,000

Cap Rate 7.89%