Listed by ParaSell Inc, Sands Investment Group
$5,655,428
New Creations Child Care - W. Des Moines, IA
Details
Property Type Retail, Special Purpose
Sub Type Day Care/Nursery, School
Square Footage 15,064
Cap Rate 7%
NOI $395,880
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 15
Lease Expiration 06/30/2038
Remaining Term 12.1
Rent Bumps Yes
Lease Options None
Price per SqFt $375
Year Built 1993
Acreage 1.660
Investment Type Net Lease
Lease Commencement 07/01/2023
Ground Lease No
Corporate & Personal Guarantee | 7.00% CAP | 2% Annual Increases
Marketing description
We are pleased to exclusively offer for sale the 15,064 SF New Creations Child Care located at 3424 EP True Parkway in West Des Moines, IA. The deal includes a long-term, Triple Net (NNN) investment opportunity leased to New Creations Child Care and Learning Center, a regional provider operating 20 locations across Minnesota and Iowa. With 12+ years remaining on the initial term and 2% average annual rent escalations, the asset provides stable and growing cash flow.
Investment highlights
- New Creations Child Care and Learning Center is a regional provider with 20 locations between Minnesota and Iowa.
- Des Moines is the state capital and largest city in Iowa and serves as a central hub for government, business, and culture in the region.
- 15 minute drive from Des Moines International Airport (DSM) which is undergoing a $445M expansion.
- 12+ years remaining on initial term with 2% average annual rent escalations
- Average household income of $115,744 and a population of 143,529 residents within a 5-mile radius.
- 9 elementary feeder schools within a 5-mile radius from the center.
- The $750M+ Market District redevelopment is bringing mixed-use housing, retail, office space, and public amenities which strengthens long-term demand from working families needing reliable childcare.
Listing Contacts
Listed by ParaSell Inc, Sands Investment Group
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$395,880.00
$32,990.00/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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