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33445410
33445409

851 Double Bridge Road, Boiling Springs, SC 29316

DS
IL IL 475.134920
Marcus & Millichap - Chicago Oak Brook
Listed by Marcus & Millichap - Chicago Oak Brook
$6,646,154
1 day on market
Updated 1 day ago

The Children's Courtyard - Boiling Springs, SC

Details
Property Type Retail
Sub Type Day Care/Nursery
Square Footage 11,156
Cap Rate 6.5%
NOI $432,000
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 20
Lease Expiration 01/31/2045
Remaining Term 18.6
Rent Bumps Yes
Lease Options Three, Five-Year
Broker Co-Op True
Year Built 2025
Acreage 2.210
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/21/2025
Ground Lease No
Ownership Fee Simple

18+ Years Remaining | #2 Corporate Operator in the Country | Outparcel to Brand New Target

Investment highlights

Corporate Guaranty from the #2 Corporate Operator in the Country

  • Learning Care Group (LCG) is officially recognized as the second-largest for-profit early childhood education and care provider in North America.
  • The company operates over 1,150 schools across the United States. Its network spans across 40 states and Washington, D.C.
  • LCG has the collective capacity to care for and educate over 165,000 children daily, ranging in age from 6 weeks to 12 years old.
  • Unlike some competitors that operate under a single name, LCG achieves its massive scale by maintaining a diverse portfolio of 11 unique brand identities. This multi-brand approach allows them to target various market segments, educational philosophies, and geographic regions.
  • Driven by its massive footprint, LCG generates an estimated $4.1 billion in annual revenue.

18+ Years Remaining with 7.50% Increases Every 5 Years

  • The Learning Care Group corporately guaranteed lease has over 18 years remaining.
  • The lease features rental increases every 5 years of 7.50% and continuing into the option periods, growing NOI and hedging against inflation.
  • The lease features limited landlord responsibilities, allowing for a passive investment for a new landlord.

Spartanburg MSA – 5-Mile Population Growth: 25% (2010-2022)

  • Greenville-Spartanburg-Anderson is the 8th Largest MSA in Southeast and Spartanburg was the 8th Fastest Growing Metro in the U.S. in 2023 (U.S. Census Bureau).
  • The area is home to 1.6 million residents.
  • Greenville County boasts many large businesses and financial companies, houses various regional offices and continues to attract new firms.
  • Boiling Springs is an affluent and growing suburb of Spartanburg, SC and is about 30 miles northwest of Greenville.

Over $38,000,000 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.

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
$432,000.00
$36,000.00/mo

Valuation Metrics

0
DSCR
6.5%
Cap Rate
6.5%
ROI

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Additional Information

Name
BenYelm
License
86628
Brokerage
Marcus & Millichap
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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