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The Learning Experience, Overland, KS

The Learning Experience

Price $5,143,000
Cap Rate 7.00%
NOI $360,000
Lease Term 15 Years
Lease Type Net, with Tenant Responsible for all Insurance, Taxes, and Maintenance, Excluding Roof and Structure
Rental Increases 8% Rental Increases Every Five (5) Years
Year Built 2019
Building Size 10,000 SF
Lot Size 1.44 acres (67,777 SF)
Status Available
Lead Broker Information Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

LONG-TERM LEASE WITH SCHEDULED RENTAL INCREASES TO NATIONAL TENANT WITH BRAND RECOGNITION AND GROWTH
» 15-year net lease with 8% rental increases every five years
» Tenant has over 300 locations in 22 states and has ranked in the Franchise 500 nine years in a row
» Tenant experienced 210% increase in five-year system-wide revenue growth and is one of the fastest growing franchises in its industry

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR WITH ROBUST DEMOGRAPHICS
» Excellent access and visibility to 18,000 vehicles per day at the signalized intersection of Pflumm Road and West 133rd Street
» Near West 135th Street (23,200 AADT), a major commercial and retail corridor
» Outparcel to Crystal Springs, a new mixed-use development that will include a 248-unit apartment complex plus retail and office space
» Affluent area, with an average household income of $158,012 within one mile and average household incomes exceeding $113,000 within three- and five-mile radii, significantly higher than national and regional averages
» Large population of 102,610 within three miles of the property and 229,745 within five miles
» Located near major employers, with 166,707 daytime employees working within a five-mile radius

BEDROOM COMMUNITY WITH HIGH DEMAND FOR CHILDCARE AND EARLY EDUCATION
» Located in Overland Park, a family-oriented community whose average residents include working executives and school-age children
» Public school districts in Overland Park rank among the best in the nation
» Community places a high value on education; 61.4% of all Overland Park residents 25 years or older have a bachelor’s degree or higher
» Many residents commute to Kansas City and the surrounding communities for work, creating a high demand for childcare services



Property Description

The property is conveniently located at the signalized intersection of Pflumm Road and West 133rd Street, with excellent visibility and access to 18,000 vehicles per day. The property is approximately one block from West 135th Street (23,200 AADT), one of Overland Park’s main commercial and retail corridors. A number of major national and regional retailers are located a short distance from the property, including Walmart Supercenter, Lowe’s, Walgreens, Menards, Hobby Lobby, Starbucks, CVS, and more. The property is also outparcel to Crystal Springs, a new mixed-use development that will include a 248-unit apartment complex plus retail and office space.

The property is surrounded by affluent residential neighborhoods; the average household income within one mile of the property is $158,012, and average household incomes within three- and five-mile radii exceed $113,000. Additionally, the property benefits from its location in a densely populated area, with 102,610 residents within a three-mile radius and 229,745 residents living within a five-mile radius. Furthermore, the property is located near major employers, with 166,707 daytime employees working within a five-mile radius. A majority of the region’s workforce works outside of the home, and many residents commute to Kansas City and the surrounding communities for work, providing a high demand for childcare services.

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