Listed by Sands Investment Group Los Angeles, Sands Investment Group Charleston
$5,133,333
The Learning Experience - Newington, CT
Details
Property Type Retail, Special Purpose
Sub Type Day Care/Nursery, School
Square Footage 10,000
Cap Rate 7.5%
NOI $385,000
Occupancy 100%
Tenancy Single
Brand/Tenant The Learning Experience
Lease Type NNN
Lease Term 20
Lease Expiration 03/29/2041
Remaining Term 14.8
Rent Bumps Yes
Lease Options 1 x 10 Year Option
Price per SqFt $513
Year Built 2020
Buildings 1
Acreage 2.030
Investment Type Net Lease
Lease Commencement 03/29/2021
The Learning Experience | 15+ Yr NNN | $137K Avg HH Income - Affluent CT Market
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 10,000 SF The Learning Experience located at 395 Willard Ave in Newington, CT. This deal includes an asset 100% leased to The Learning Experience on a Triple Net (NNN) Lease with 15 years remaining, with the only landlord responsibility being the roof and structure. It features 10% rental increases every five years, ensuring long-term income stability.
Investment highlights
- This location is operated by an experienced 12+ multi-unit TLE operator. The Learning Experience started in 1980 with one center and has since grown to 700+ locations, many of which are open or under development.
- This asset is 100% leased to The Learning Experience on a Triple Net (NNN) Lease with 15 years remaining, with the only landlord responsibility being roof and structure, and featuring 10% rental increases every five years.
- The property is ideally positioned on a 2.03-acre lot between several large suburban neighborhoods and many key employers in the area; Hartford County is one of the more affluent counties in the United States, with an annual household income of over $137,331.
- Total consumer spending on education and daycare exceeds $198 million annually within a 5-mile radius of this location, and average household income exceeds $117,272 within a 1-mile radius of this location.
- Established retailers nearby include: Target, Walmart, Stop & Shop, ALDI, Cumberland Farms, Hartford Hospital, Connecticut Department of Transportation, Data-Mail Inc., Stew Leonard’s, Newington Rapid Recovery Health Care Center, Veterans Administration Hospital, Davidson Specialty Foods, and more.
- The childcare and early education industry is projected to grow at an annual rate of 5.0% over the next five years due to the rising population of young children, as well as the societal shift that has sent more parents into the workforce.
- 11+ feeder elementary schools within a 5-mile radius: Anna Reynolds School, Elizabeth Green School, John Paterson School, Ruth Chaffee School, Emmanuel Christian Academy, Richard D. Hubbard School, West Woods Upper Elementary, Highcrest School, Northend Elementary School, Smalley Elementary School, and Smith Elementary.
Listing Contacts
Listed by Sands Investment Group Los Angeles, Sands Investment Group Charleston
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$385,000.00
$32,083.33/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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