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Views: 1 DOM: 1 Updated: 11.13.24 Posted: 11.13.24 Status: Active

Summary

Price $5,113,928
Built/Renov 2019
Tenant The Learning Experience
Cap Rate 7.00%
Lease Type NN+
Guarantor Corporate
Size/SF 10,000
Lease Start 09-25-2019
#Units 500
Price/SF $511.39
Expiration 11-30-2034
Tenant Type Daycare/Education
NOI $357,975
R. Term 10.0
Ownership Fee Simple
Rent/SF $35.80
Increases 11.0%/5/yrs
Pop 5Mi 152,954
Lot/AC 1.55
Options 2/5yrs/11%
AHHI 5Mi $120,967

Lease Highlights

  • 10 years remaining on its current lease term with 2 (5-year) renewal options
  • The lease features 11% rental increases every 5 years
  • Favorable NN+ lease | Landlord responsibilities limited to roof & structure
  • Corporate guaranteed lease

Location Description

The Learning Experience is strategically located along Black Road, which sees approximately 23,624 vehicles daily. Positioned on a 1.55-acre lot, it is surrounded by large suburban neighborhoods and numerous key employers. Nearby established retailers include Home Depot, O'Reilly Auto Parts, Marshalls, Walmart, CVS, Target, Orange Theory, Speedway, Wendy's, McDonald's, Taco Bell, Jimmy John's,...

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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 nationwide. TLE is one of America’s fastest-growing...


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Listing Broker

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