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31515653
31515654

4908 Pleasant Valley Rd, Virginia Beach, VA 23464

DS
IL IL 475.134920
Marcus & Millichap - Chicago Oak Brook
Listed by Marcus & Millichap - Chicago Oak Brook
$1,632,000
59 days on market
Updated 59 days ago

Childtime Learning Center - Virginia Beach, VA (Norfolk MSA)

Details
Property Type Retail
Sub Type Day Care/Nursery
Square Footage 6,052
Cap Rate 7.75%
NOI $126,496
Occupancy 100%
Tenancy Single
Brand/Tenant Childtime Learning Centers
Lease Type NN
Lease Term 24.3
Lease Expiration 06/30/2031
Remaining Term 5.1
Rent Bumps Yes
Lease Options Two, Five-Year
Price per SqFt $270
Broker Co-Op Yes
Year Built 1985
Year Renovated 2007
Acreage 1.000
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/01/2007
Ownership Fee Simple

18+ Year Operating History at Location | Learning Care Group (1,100+ Locations)

Investment highlights

18+ Year Operating History at this Location (40+ Year Operating History as a Daycare)

  • In 2007, Learning Care Group acquired a large portfolio from a mom-and-pop operator in the VA Beach marketplace. Prior to then, that operator built this school in 1985 and continually operated it until 2007.
  • The lease calls for 10.00% rent increases every five years in the base term and the option periods.
  • The tenant has two five-year options to renew at the expiration of the initial term.

Learning Care Group – 2nd Largest Corporate Operator in the Country

  • Learning Care Group is the 2nd Largest Corporate Operator in the country, only behind KinderCare.
  • Learning Care Group currently operates over 1,100 locations across forty states.
  • Learning Care Group serves over 165,000 children nationwide

Over $205,000,000 Spent on Education and Daycare in a 5-Mile Radius

  • A strong focus on education and early childhood development can make a city more attractive to businesses and skilled workers, contributing to overall economic growth.
  • Participants in early childhood programs are more likely to enroll in college and potentially experience higher earnings in adulthood.

Norfolk MSA – Densely Populated with Nearly 300,000 People in 5-Miles

  • The Virginia Beach Metropolitan Statistical Area, also known as Hampton Roads and Coastal Virginia, encompasses 15 cities and counties with a population of over 1.7 million and a workforce of over 850,000.
  • Regularly recognized as one of America’s best places to live and raise a family, Virginia Beach has been ranked as one of the fittest, safest, most literate, best places to buy a home, and most affordable beach towns in the country.
  • The metro has the second-largest concentration of military personnel in the nation, with 15 military installations providing numerous jobs.

Listing Contacts

DS
IL IL 475.134920
Marcus & Millichap - Chicago Oak Brook
Listed by Marcus & Millichap - Chicago Oak Brook

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$126,496.00
$10,541.33/mo

Valuation Metrics

0
DSCR
7.75%
Cap Rate
7.75%
ROI

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Additional Information

Name
Brian Hosey
License
0225247494
Brokerage
Marcus & Millichap
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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