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31873996
31873997

2575 South Fort Apache Road, Las Vegas, NV 89117

MR
AZ SA550593000
Marcus & Millichap - Phoenix
Listed by Marcus & Millichap - Phoenix
$2,796,369
40 days on market
Updated 40 days ago

Creative Kids (Learning Care Group)

Details
Property Type Retail, Special Purpose
Sub Type Day Care/Nursery, School
Square Footage 11,667
Cap Rate 6.5%
NOI $181,764
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 17.5
Lease Expiration 07/30/2034
Remaining Term 8.2
Rent Bumps Yes
Lease Options 2, 5 Year Options
Price per SqFt $240
Year Built 1994
Buildings 1
Acreage 1.210
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/30/2017
Ground Lease No

Abs NNN Lease w/ 1,150+ Unit Corp Guaranty | Las Vegas, NV

Marketing description

Creative Kids Learning Centers provide quality child care and early learning experiences with programs for children of all ages – from infants up to school-age students. Creative Kids is accredited by NECPA (National Early Childhood Program Accreditation), having met more than 250 high-quality indicators in areas such as curriculum, student progress, and health and safety.

The Las Vegas-Henderson-Paradise MSA is one the fastest-growing metros in the nation, with a population of more than 2.3 million. Over the next five years, the metro’s population is expected to grow by 6 percent. Known as The Entertainment Capital of the World, Las Vegas is an internationally renowned major resort city, regarded for its gambling, shopping, fine dining, entertainment, and nightlife. It is a top three destination in the United States for business conventions and a global leader in the hospitality industry, claiming more AAA Five Diamond hotels than any other city in the world.

Investment highlights

» Absolute Triple-Net (NNN) Lease with Eight Years Remaining on Lease Term

» Corporate Guaranty by Learning Care Group, One of the Largest Providers of Early Childhood Care in the U.S. with More Than 1,150 Schools Across 11 Brands

» 8% Rental Increase Occurring in Each of Two, 5-Year Renewal Options

» 387,241 Residents within 5 Miles - Growing Las Vegas Trade Area

» Easily Accessible Location at the Corner of S Fort Apache Road and W Sahara Ave (±66,000 Combined Cars per Day)

» Average Household Income Exceeds $116,000 in the Surrounding Area

» Situated in a Dense Residential Area in Immediate Proximity to Numerous Retail

Centers and Casinos

» 10+ Feeder Elementary Schools within a 5-Mile Radius

Listing Contacts

MR
AZ SA550593000
Marcus & Millichap - Phoenix
Listed by Marcus & Millichap - Phoenix

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$181,764.00
$15,147.00/mo

Valuation Metrics

0
DSCR
6.5%
Cap Rate
6.5%
ROI

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Additional Information

Name
Frank Cameron Glinton
License
B.1002894.CORP
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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