Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
$3,870,000
Tutor Time
Details
Property Type Retail
Sub Type Day Care/Nursery
Square Footage 10,705
Cap Rate 7%
NOI $270,900
Occupancy 100%
Tenancy Single
Brand/Tenant Tutor Time
Lease Type NNN
Lease Term 23.7
Lease Expiration 12/31/2032
Remaining Term 6.5
Rent Bumps Yes
Lease Options 3, 5 Year Options
Price per SqFt $362
Year Built 2008
Acreage 1.720
Investment Type Net Lease
Lease Commencement 04/15/2009
Columbus MSA | 7.00% CAP | 10,705 SqFt
Marketing description
Tutor Time is dedicated to fostering education development, building self-esteem, and sparking imagination in a safe and loving environment. As a leader in early child education and family solutions, Tutor Time is committed to developing innovative educational solutions. There are approximately 125 corporate Tutor Time schools throughout the United States.
Powell is a city in Delaware County, Ohio located approximately 14 miles north of Columbus. Home to over 13,000 residents, Powell is within one of the wealthiest counties in the United States. Powell was recognized as one of the Best Places to Live in the United States by Money Magazine, and was named the Best Suburb in the United States by Business Insider.
Investment highlights
- Six+ Years Remaining on Lease Term with Learning Care Group, One of the Largest Providers of Early Childhood Care in the U.S. with 1,150+ Schools Across 11 Brands - 7.53% Cap Rate Approx. 18 Months
- 7.5 Percent Rental Increases Every Five Years with Multiple Renewal Options
- Dense Trade Area in the Columbus MSA - 162,316 Residents within a Five Mile Radius
- Situated in One of the Columbus MSA’s Most Affluent Suburbs - Average Household Income Exceeds $189,000 in the Surrounding Area
- Easily Accessible Location at the Corner of Sawmill Parkway and W Powell Road (Approximately 43,000 Combined Cars per Day)
- Households and Population Projected to Increase Approximately 4 Percent in the Surrounding Area Over the Next Five Years
- Across from Kroger and Giant Eagle-Anchored Shopping Centers
- One Mile from the Columbus Zoo and Aquarium (Approximately 2.2 Million Visitors Annually)
Listing Contacts
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$270,900.00
$22,575.00/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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