The Learning Experience

2435 Eldridge Parkway South, Houston, TX 77077

$4,738,000

Cap Rate 6.50%

Views: 73 Updated: 12.04.23 Posted: 10.24.23 Status: Inactive

Summary

Price $4,738,000	Built/Renov 2015	Tenant The Learning Experience
Cap Rate 6.50%	Lease Type NN+	Guarantor Franchisee
Size/SF 10,000	Lease Start 02-05-2016	#Units 1
Price/SF $473.80	Expiration 05-31-2036	Tenant Type Daycare/Education
NOI $308,000	R. Term 11.5	Ownership Fee Simple
Rent/SF $30.80	Increases 10.0%/3/yrs	Pop 5Mi 388,997
Lot/AC 1.40	Options 1/5yrs/10%	AHHI 5Mi $94,812

Lease Highlights

Long-term net lease with 12+ years remaining that includes 10% rental increases every five years | 1 (5-year) option remaining
Favorable NN+ lease with landlord responsible for roof & structure
Center is operating near full capacity at 175/200 students | Tenant committed to an extension of the lease
Tenant experienced 210% increase in five-year system-wide revenue growth and is one of the fastest growing franchises in its industry

Location Description

The subject property is conveniently located on Eldridge Parkway (19,430 VPD), with excellent visibility and access from a hard corner, signalized intersection at Westheimer Rd. which sees an additional 20,945 vehicles per day. The Learning Center has a cross access easement & parking with Chloe Dental, and is adjacent to The Milo on Westheimer, a luxury apartment community. It is also just...

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Key Features

High traffic 50M+ VPD
Dense retail corridor
Strategically located
Strong tenant synergy
Dense 200M+ pop 5 mi
Top 100 MSA
Strong demographics
Income tax free state
Favorable NN+ lease
Personal guarantee

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Links

The Learning Experience Wikipedia Houston, Texas Zip Code 77077 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: The Learning Experience
Guarantor:Franchisee
Company:Franchisee
# Units:1
Stock:Private

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 fastest...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	29,584	165,770	392,642
2023 Total Population :	28,118	163,328	388,997
2023 Employed Civilian Pop :	15,612	86,782	200,373
2023 Total Businesses :	880	6,393	17,628
2023 Average Household Income :	$ 86,217	$ 98,270	$ 94,812
2023 Total Consumer Spending :	$ 927 M	$ 5654 M	$ 12081 M
2023 Median Age :	35	36	35
2023 Total Households :	12,371	66,582	147,176
2023 Pop Age 25+: Bachelor's Degree :	7,029	34,114	69,417
2023 Average Home Value :	$ 354,026	$ 372,516	$ 350,945

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Eldridge Pkwy	Westheimer Rd	2001	23,400	0.06 mi
Synott Rd	Westheimer Rd	2013	6,454	0.25 mi
Gentryside Dr	Wickersham Ln	2011	3,340	0.31 mi
Eldridge Pkwy	Richmond Ave	2014	23,584	0.38 mi
Panagard Dr	Westheimer Rd	2011	440	0.53 mi
Eldridge Parkway	Richmond Ave	2019	19,910	0.53 mi
Eldridge Pkwy	Briarbrook Ln	2014	30,835	0.53 mi
Richmond Avenue	W Hampton Dr	2020	14,595	0.56 mi
Richmond Ave	W Hampton Dr	2009	18,341	0.56 mi
Richmond Avenue	Ashlock Dr	2021	16,729	0.58 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
31030 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
32207 Views
23 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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