Pictures of Retail property located at 2 Iron Bridge Dr, Collegeville, PA 19426 for sales - image #1

Pictures of Retail property located at 2 Iron Bridge Dr, Collegeville, PA 19426 for sales - image #2

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Cadence Education - 9.36% Cap Rate | Philadelphia, PA MSA

Retail | 9.36% CAP | 10,000 SF | Potential Owner/ Operator or Value-Add Opportunity | Philadelphia

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Asking Price: $2,900,000

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Listing Broker NameJohn Rotunno

Address

2 Iron Bridge Dr, Collegeville, PA 19426

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Date Added

Oct 21, 2024

Days on Market

149 days

Time Since Last Update

21 days

Details

Property TypeRetail

SubtypeDay Care/Nursery

Investment TypeNet Lease

Lease TypeAbsolute NNN

Tenant CreditCorporate Guarantee

TenancySingle

Brand/TenantThe Learning Experience, KinderCare Learning Center, Cadence Education, Busy Bees, The Nest Schools, Guidepost Montessori, Big Blue Marble Academy

Lease Term20 years

Lease Commencement10/27/2005

Lease Expiration10/30/2025

Remaining Term0.6 years

Square Footage10,000

Cap Rate9.36%

Occupancy100%

Occupancy Date10/27/2005

NOI$271,367

Year Built1997

Lot Size (acres)2

Rent Bumps2% annually

Broker Co-OpYes

OwnershipFee Simple

Marketing Description

Northmarq is pleased to exclusively offer for sale a single-tenant early education property leased to Cadence Education in Collegeville, an affluent suburb outside of Philadelphia, PA. Cadence Education schools are corporately operated and have more than 300 schools as members of the Cadence Education Family of Schools across the country. This property has served the community and nearby office employees for over 19 years as a go-to childcare provider. This is very affluent area that boasts an excellent 3-mile average household income of $189k+ and is expected to grow 13.92% by '29 w/ a 102K+ population within 5 miles.

Investment Highlights

Naked Lease | Owner/Operation or value-add opportunity.
Prime, Growing Location | High demand in an affluent, expanding market.
19+ Years of Stability | Proven track record with room for operational improvements.
$465M Spent on Education Nearby | Access to a strong, growing local market.
Philadelphia MSA | Located in a thriving metro area with continuous growth and opportunity.