The Learning Experience
| Price | $5,143,000 |
| Cap Rate | 7.00% Return (8.21% Average Cap Rate) |
| 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.
