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The Learning Experience, Jacksonville, FL

The Learning Experience

FL, United States

Price $3,475,000
Cap Rate
NOI
Lease Term 17 Years
Lease Type
Rental Increases 12% rental increase in year 6 and every 5 yearsthereafter
Year Built 2014
Building Size 10,000 sq. ft. building plus 5,000 sq. ft. playground
Lot Size 1.27 Acres (55,495 sq. ft.)
Status Sold
Lead Broker Information Vince Aicale
Senior Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Senior Managing Director
415.228.9114
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

LONG-TERM LEASE WITH SCHEDULED RENT INCREASES
» 17-year lease
» Rental increases of 12% in year 6 and every 5 years thereafter

NATIONAL TENANT WITH STRONG FINANCIALS
» 200+ locations in 18 states
» Tenant experienced 210% increase in 5-year system-wide revenue growth and is one of the fastest growing franchises in its industry
» Ranked in the Franchise 500 five years in a row

HEAVILY-TRAFFICKED LOCATION NEAR JACKSONVILLE’S
LARGEST EMPLOYER
» Located off of I-295 – 117,500 AADT
» Great access and visibility to 58,500 vehicles per day on San Jose Boulevard
» Less than a 15-minute drive from Naval Air Station Jacksonville, Jacksonville’s largest employer, with 21,900 employees on base

STRONG CUSTOMER BASE AND DEMOGRAPHICS IN
SURROUNDING AREA
» Located in Jacksonville;’s Mandarin neighborhood, a family neighborhood whose average residents include working executives and school-age children
» Average household income of $107,068 with a one-mile radius of the property
» 22 schools with students age 8 and under within a five-mile radius, providing a strong customer base for before and after school services

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located on San Jose Boulevard, one of Jacksonville’s major tributaries, with an average of 58,500 vehicles per day in front of the site. The property is located just two miles south of I-295, a highly-trafficked beltway around central Jacksonville, which averages 117,500 vehicles daily. San Jose Boulevard is denselylined with major retailers and shopping centers. Mandarin Pointe Shopping Center is less than half a mile south of the property, and includes strong national and regional tenants such as Bealls, Tuesday Morning, Domino’s, Verizon, and Bruster’s Real Ice Cream. Multiple shopping malls are located just over a mile north of the site, including Riverplace Shopping Center, a 32-store shopping center anchored by Stein Mart, Sears, T.J. Maxx, and Staples. Other notable tenants in the area include Marshalls, Walmart, Winn-Dixie, and AutoZone. The site is located in the Mandarin neighborhood of Jacksonville, just across the river from Naval Air Station Jacksonville, the largest employer in the area, with 21,900 civilians and active-duty personnel employed on base. Mandarin is a wealthy neighborhood; the average household income within a mile radius of the property is $107,068. Mandarin is a popular choice for busy executives and families with school-aged children. Both spouses are employed in over 70% of married-couple families in Mandarin, creating a high demand for childcare services. Additionally, there are 22 schools with students age eight and under within a five-mile radius of the property, providing a strong customer base for The Learning Experience’s before and after school programs.

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