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Views: 88 DOM: 34 Updated: 09.15.24 Posted: 08.13.24 Status: Active

Summary

Price $2,913,294
Built/Renov 2006
Tenant The Learning Experience
Cap Rate 8.65%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 11,000
Lease Start 11-01-2024
#Units 1
Price/SF $264.84
Expiration 10-31-2039
Tenant Type Daycare/Education
NOI $252,000
R. Term 15.1
Ownership Fee Simple
Rent/SF $22.91
Increases 10.0%/5/yrs
Pop 5Mi 184,990
Lot/AC 1.40
Options 2/5yrs/10%
AHHI 5Mi $106,919

Lease Highlights

  • New 15-year sale leaseback with 2 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Shelby Childcare, LLC

Location Description

The Learning Experience is strategically located on Van Dyke Avenue, with access to 33,159 vehicles passing by daily. The property is surrounded by well-known national tenants, including Advance Auto Parts, Rite Aid, Tim Hortons, Planet Fitness, Big Lots, McDonald’s, and more. The 5-mile trade area supports a population of 184,990 residents with an affluent average household income of...

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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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Listing Broker

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