Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
$2,855,000
Childtime (Learning Care Group)
Details
Property Type Retail
Sub Type Day Care/Nursery
Square Footage 7,900
Cap Rate 6.9%
NOI $197,015
Occupancy 100%
Tenancy Single
Brand/Tenant Childtime, Learning Care Group
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 01/31/2035
Remaining Term 10
Rent Bumps Yes
Lease Options 2, 5 Year Options
Year Built 1997
Buildings 1
Acreage 1.200
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 02/01/2025
Ground Lease No
Recent Early 10-Yr Renewal | Corporate Guaranty by 2nd Largest Early Ed Operator (1,150+ Locations)
Marketing description
Childtime offers child care and early education services from ages six weeks through 12 years. Highly trained, dedicated directors, teachers, and staff are present every day to ensure children's well-being and to guide them on their journey.
Fairlawn is a city in western Summit County, Ohio, and a suburb of Akron. With a resident population of around 7,700 people and a daytime population that swells significantly due to its concentration of offices, retail centers and services, Fairlawn serves as an important business and consumer destination in the region.
Investment highlights
- More Than 8 Years Remaining on Absolute Triple-Net (NNN) Lease
- 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
- Significant Tenant Capital Commitment To Property With $485,000 Toward Property Improvements
- 10% Rental Increases Every 5 Years with Multiple Renewal Options
- Daytime Population Exceeds 70,000 Within 5 Miles
- Easily Accessible by More Than 57,200 Cars Per Day on Interstate 77
- Average Household Income Exceeds $182,000 in the Immediate Area
- Located Less Than 1 Mile from Crystal Clinic Orthopaedic Center Hospital (60 Beds)
Listing Contacts
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$197,015.00
$16,417.92/mo
Valuation Metrics
0
DSCR
6.9%
Cap Rate
6.9%
ROI
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