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The Learning Experience, Novi, MI

The Learning Experience

Price $4,236,000
Cap Rate CAP RATE 7.20% return (8.45% average cap rate)
NOI $305,000
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 building + 7,227 SF playground
Lot Size 2.17 acres (94,525 SF)
Status Available
Lead Broker Information Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
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


Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with North Carolina-licensed real estate broker Stewart Realty, LLC.

Investment Highlights

LONG-TERM LEASE WITH SCHEDULED RENTAL INCREASES
» 15-year net lease with two five-year options
» 8% rental increases every five years, providing a hedge against inflation

NATIONAL TENANT WITH BRAND RECOGNITION AND GROWTH
» Over 300 locations in 22 states
» Tenant experienced 210% increase in five-year system-wide revenue growth and is one of the fastest growing franchises in its industry
» Ranked in the Franchise 500 eight years in a row

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Immediate access to Grand River Avenue (25,358 AADT) and Novi Road (36,900 AADT) and is adjacent to the convergence of four major freeways: Interstate 96 (161,747 AADT), Interstate 275 (178,611 AADT), Interstate 696 (180,233 AADT) and Highway 5 (78,622 AADT)
» Excellent visibility and access to 12,845 vehicles per day directly in front of the property
» Directly adjacent to Novi Town Center, a Walmart-anchored shopping center that boasts over $100 million in annual sales
» Within walking distance Twelve Oaks Mall, an upscale, super-regional mall with a trade area population of 1.7 million and over 245,000 households earning over $100,000 annually

PRIME LOCATION IN WEALTHY COMMUNITY
» 160,607 residents with an average household income of $114,992 live within five miles of the property
» Average household incomes within one- and three-mile radii are $103,334 and $122,319, respectively
» 123,497 daytime employees work within a five-mile radius
» A majority of Novi’s workforce works outside of the home, and the number of Novi residents under five-years-old is expected to increase 20.8% by 2045, providing a high demand for childcare services



Property Description

The property is conveniently located at the hard corner intersection of Town Center Drive and 11 Mile Road, with excellent visibility and access to 12,845 vehicles per day directly in front of the property. The property has immediate access to Grand River Avenue (25,358 AADT) and Novi Road (36,900 AADT) and is adjacent to the convergence of four major freeways: Interstate 96 (161,747 AADT), Interstate 275 (178,611 AADT), Interstate 696 (180,233 AADT) and Highway 5 (78,622 AADT). Located in the heart of Novi’s retail corridor, the property is directly adjacent to Novi Town Center, a Walmart-anchored shopping center that boasts over $100 million in annual sales. Several shopping centers are within walking distance of the property, including Twelve Oaks Mall, an upscale, super-regional mall with nearly 200 stores, including Macy’s, Apple, Coach, Lord & Taylor, Nordstrom, and Williams-Sonoma.

The property is surrounded by densely populated, affluent residential neighborhoods; 160,607 residents with an average household income of $114,992 live within five miles of the property. Additionally, the average household incomes within one- and three-mile radii are $103,334 and $122,319, respectively. The property is also near several large employers, and 123,497 daytime employees work within a five-mile radius. Additionally, a majority of Novi’s workforce works outside of the home, and the number of Novi residents under five-years-old is expected to increase 20.8% by 2045, providing a high demand for childcare services.

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