SafeSplash Swim School (dba Miller Swim School)

FOR FULL INFORMATION, PLEASE VISIT PROPERTY WEBSITE LINK BELOW

https://info.​northmarq.​com/safesplashswimschool-tulsawest-ok-retail?utm_campaign=MillerSwimSchool-Jenks-OK-Retail&utm_source=Crexi

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Northmarq, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the fee simple interest in the single-tenant swim school located at 525 West 91st Street in Tulsa, Oklahoma (the “Property”).​ The Property is fully leased to SafeSplash Swim School Parker, LLC, doing business as Miller Swim School with a full corporate guaranty by both SafeSplash Holdings, LLC and SafeSplash Brands, LLC.​ SafeSplash (the Lease Guarantor) is the world’s largest operator and franchisor of swim schools with over 250 facilities across 32 states.​ The Miller Swim School brand has been serving the Tulsa community for over sixty years and currently has four locations in the Tulsa metro area.​

The Property is operating under a 15-year NNN lease with more than 12 years remaining, and two, five-year option periods.​ It features 2.00% annual rental increases and is highly-passive with Landlord responsible for the outer walls and foundation only – Tenant is responsible for everything else, including the maintenance, repair, and replacement of the roof.​

Positioned roughly 8 miles south of downtown Tulsa, the Property is located on the Tulsa/Jenks city boundary – Jenks is Tulsa’s most-desired and fastest-growing suburb (and one of the fastest-growing cities in all of Oklahoma).​ The Property is adjacent to several schools in the Jenks School District, the #1 public school district in the state and ranked in the top 200 of public school districts nationwide (out of 10,932 total districts).​ Additionally, it is next to the Tulsa Riverside Airport (the busiest airport in Oklahoma) and within five miles of the new Tulsa Premium Outlets, the Oklahoma Aquarium, River Spirit Casino Resort and Tulsa Hills Shopping Center, among the most-visited destinations in Oklahoma.​

CORPORATE SAFESPLASH GUARANTY (250+ LOCATIONS)

Full corporate guaranty from SafeSplash Holdings, LLC and SafeSplash Brands, LLC, the world’s largest operator and franchisor of swim schools with 250+ locations across 32 states. The Property is doing business as Miller Swim School, part of the SafeSplash family of companies and an established brand with 30+ years of history in the Tulsa market.

ADJACENT #1 PUBLIC SCHOOL CAMPUS IN OKLAHOMA, JENKS PUBLIC SCHOOLS

The Jenks Public School District is the #1 public school district in all of Oklahoma and ranked in the top 200 among the 10,932 public school districts nationwide. The district includes over 12,500 students and the school’s campus is located adjacent the Subject Property.

LONG-TERM LEASE

New 15-year lease began in December 2021, with over 12.5 years of lease term remaining for long-term cash flow.

NNN LEASE WITH TENANT RESPONSIBLE FOR ROOF

Landlord obligations limited to structure and foundation with Tenant responsible for all else including maintenance, repair, and replacement of the roof.

ANNUAL 2.00% RENTAL INCREASES

2.00% annual rent increases provide contractual rent growth, offering more than 26% growth and average yield of over 8.19% over the remaining base term.

IMPRESSIVE TENANT & GUARANTOR GROWTH

SafeSplash is the world’s fastest growing franchisor of swim schools, and the fastest growing children’s fitness franchise overall. Brands include SafeSplash Swim School, Saf-T-Swim, Swimtastic Swim School, SwimLabs Swim School, Miller Swim School, AquaKids Swim School, AquaSafe Swim Schools, and Ripples Swim School.

2019 CONSTRUCTION ON LARGE PARCEL

The Property was built in 2019 as a build-to-suit for Miller Swim School. The recent construction and positioning on a large 1.57-acre parcel offer strong residual value.

EXCEPTIONAL DEMOGRAPHICS

Population of 127,000+ and average household income of $99,011 within a 5-mile radius. Population has grown 16.2% since 2010 and continues to increase annually. Household income is set to increase another 12% by 2028.

RAPID POPULATION GROWTH MARKET-WIDE

The Property is located on the border of Jenks, OK and Tulsa, OK. Jenks is currently among the fastest-growing cities in Oklahoma, was rated THE fastest for much of the last decade and is the 4th-fastest growing since 2010 with 26.7% growth over that period (123% since 2000). The development pipeline in the city is currently estimated to be between $800 million and $1 billion.

CLOSE PROXIMITY TO MAJOR RETAIL DESTINATIONS

Property is positioned within five miles of the brand-new Tulsa Premium Outlets, the Oklahoma Aquarium, River Spirit Casino Resort and Tulsa Hills Shopping Center, among the most-visited destinations in Oklahoma.

TULSA MSA OPPORTUNITY

Tulsa is the second-most-populous city in Oklahoma with a metro population of more than one million. Its GDP is growing 50% faster than the U.S. overall and is home to a thriving job market (20,000 new jobs since 2022) and housing market (record number of home starts in 2023; 53% increase in home prices last five years). It is frequently cited as one of most business-friendly cities in the U.S.