Cadence Academy

315 Fries Mill Road, Sewell, NJ 08080

$4,810,000

Cap Rate 6.50%

Views: 80 Updated: 11.07.23 Posted: 11.02.23 Status: Inactive

Summary

Price $4,810,000	Built/Renov 2007	Tenant Cadence Academy
Cap Rate 6.50%	Lease Type NN+	Guarantor Corporate
Size/SF 29,353	Lease Start 02-01-2020	#Units 300
Price/SF $163.87	Expiration 01-31-2035	Tenant Type Daycare/Education
NOI $312,700	R. Term 10.4	Ownership Fee Simple
Rent/SF $10.65	Increases 6.0%/3/yrs	Pop 5Mi 150,028
Lot/AC 3.53	Options 2/5yrs/6%	AHHI 5Mi $98,893

Dan Lewkowicz

ENCORE Real Estate Investment Services

Contact

Lease Highlights

Cadence Academy has 11+ years remaining on the current lease term with 2 (5-year) options to extend
Lease features rare 6% rental increase every 3 years
Favorable NN+ lease with landlord responsible for roof
Corporate guarantee by Apax Partners

Location Description

Cadence Academy is strategically located along Fries Mill Road, with clear visibility and access to 27,000 vehicles passing by daily. The 5-mile trade area is supported by a population of 150,028 residents and more than 56,000 households earning an average annual income of $98,893. Sewell is an unincorporated community situated in the southwestern part of New Jersey, specifically in Mantua...

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Key Features

Build to suit
Roof guarantee
Strategically located
Highway close
Top 100 MSA
Strong demographics
Long 10+ yr lease
Favorable NN+ lease
Corporate Guarantee
Over 100 Units backed

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Links

Cadence Academy Wikipedia Sewell, New Jersey Zip Code 08080 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Cadence Academy
Guarantor:Corporate
Company:Apax Partners
# Units:300
Stock:Private

About Tenant

Cadence Education is one of the largest providers of early childhood care in the United States. Cadence Education programs are tailored to each developmental stage in children from six weeks to 12...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	7,584	56,489	156,031
2023 Total Population :	7,287	55,828	154,564
2023 Employed Civilian Pop :	4,012	30,679	78,579
2023 Total Businesses :	213	1,671	4,162
2023 Average Household Income :	$ 134,863	$ 137,312	$ 126,203
2023 Total Consumer Spending :	$ 302 M	$ 2360 M	$ 5889 M
2023 Median Age :	40	41	38
2023 Total Households :	2,657	20,321	54,887
2023 Pop Age 25+: Bachelor's Degree :	1,751	11,260	26,078
2023 Average Home Value :	$ 350,201	$ 329,897	$ 315,482

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Fries Mill Road	Adele Dr	2019	13,423	0.04 mi
Fries Mill Road	Scotch Dr	2018	7,357	0.31 mi
Fries Mill Road		2018	13,639	0.34 mi
Hurffville Crosskeys Rd	Sunhaven Dr	2002	13,969	0.41 mi
Fries Mill Road	Orchardview Dr	2017	13,635	0.55 mi
Hurffville Crosskeys Road	Bells Lake Rd	2017	7,458	0.64 mi
Glassboro Crosskeys Rd	Fries Mill Rd	2017	13,431	0.76 mi
Hurffville - Cross Keys Road	Medical Center Dr	2020	21,144	0.78 mi
Watson Drive	Black Horse Pike	2019	5,379	0.81 mi
Cross Keys Byp	Hurffville Crosskeys Rd	2018	13,212	0.84 mi

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