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Cadence Academy Preschool - Wilmington, NC

300+ School Operator | Corporate Guaranty | 10+ Year Lease | 6.00% CAP

Listing Contacts

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Active

Asking Price: $5,403,534
Listing Broker NameChris Sands
Address 

7131 Market Street, Wilmington, NC 28411

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Date Added
Oct 23, 2024
Days on Market
142 days
Time Since Last Update
5 days

Details

Property TypeRetail
SubtypeDay Care/Nursery
Lease TypeNNN
Tenant CreditCorporate Guarantee
TenancySingle
Lease Term29.1 years
Lease Commencement12/02/2005
Lease Expiration12/31/2034
Remaining Term9.8 years
Square Footage12,355
Price/Sq Ft$437.36
Cap Rate6.00%
Occupancy100%
NOI$324,212
Year Built2005
Lot Size (acres)1.67
Rent Bumps2% Annually
Lease OptionsNone

Marketing Description

Sands Investment Group is Pleased to Present Exclusively For Sale the 12,355 SF Cadence Academy Preschool Located at 7131 Market Street in Wilmington, NC.​ This Deal Includes 11+ Years Remaining on a Triple Net (NNN) Lease With Minimal Landlord Responsibilities, Providing For a Unique Investment.​

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Investment Highlights

  • Cadence Education is One of the Largest Private Childcare Providers in the United States With 30+ Years of Operating History and More Than 300 Locations

  • 10+ Years Remaining on Initial Term With Favorable 2% Annual Rent Escalators

  • Tenant Paying $25.22/ SF With No Renewal Options at End of Term

  • Strong Demographics With an Average Household Income of $92,319 and a Population of 44,108 Residents Within 3-Miles

  • The Center is Located Off Highway 17, a Primary Thoroughfare With High Visibility

  • Conveniently Located 15 Minutes From Wilmington International Airport

  • Nearby Feeder Elementary Schools Include: Murrayville, Porters Neck, Ogden, Eaton, John J. Blair and College Park

  • Nearby Retailers Include: University Landing Mall, HomeGoods, Publix Supermarket, Costco, Sam's Club, Target, Walmart Supercenter, Lowe's, Best Buy, Applebee's, Olive Garden and Cracker Barrel

  • This Region Has Long Been Recognized For Its Mild and Sunny Climate, White-Sand Beaches, Southern Hospitality and Easy Access to World-Renowned Golf Courses

Valuation Calculator

Valuation Calculator

Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$324,212.00
$27,017.67/mo

Valuation Metrics

0
DSCR
6%
Cap Rate
6%
ROI

Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

Contact

Listing Contacts

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Broker Name
Chris Sands
Broker License
NC #300021
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