The Learning Experience | 20 Yrs NNN | 1.07AC
9,990 SF | Retail Building | Fresno, CA 93722 | $5,661,000 ($567/SF) | 6.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,661,000
- Property Type
-
Retail
- Square Feet
- 9,990 SF
- Price / Square Foot
- $567
Listing Contacts
Scott DeYoung
Verified Profile
Jeff Conover
Verified Profile
Greg Lukosky
Verified Profile
- Property Info
Property Overview
Faris Lee Investments is pleased to offer for sale the fee simple interest (land & building) in a newly constructed STNL The Learning Experience (TLE) on a long term / 20 year corporate guaranteed lease. The TLE property is a freestanding parcel poised for immediate success through strategic real estate placement in the upscale communities of North Fresno. The investment has rental increases every 5 years throughout the initial term and option period, which aids in hedging against inflation.
The subject property is a brand-new build-to-suit with the new prototypical improvements installed at this daycare facility. The long-term NNN lease provides for security and stability for the investor with minimal landlord responsibilities. TLE is situated on a large parcel of 1.07 acres with ample parking. The Learning Experience is the nation’s fastest growing early-learning academy franchise, with more than 315 operating centers and 250 more under development across 29 states. Prior to being acquired by Golden Gate Capital in 2018, TLE experienced a 210% increase in revenue over the preceding 5 years, and continues to outperform competitors, enticing more than 45% of franchisees to own two or more centers.
The subject property is strategically positioned in a prominent retail / residential location, surrounded by notable tenants such Save Mart, CVS, Target, Hobby Lobby, Wells Fargo, UPS, FedEx, a variety of QSR restaurants, medical care facilities, and schools . Situated near the hard corner of N. Blythe Ave and W. Herndon Ave with over 22,000 VPD, which is ideally set just East of Highway 99; allowing families in neighboring communities to utilize the day care facility. Strong trade area demographics include over 61,467 households within a 5-mile radius, over 16,000 children under the age of 5, and an average household income of $93,333. Fresno serves as the geographic center of California and is the central hub for transportation, commerce, and agriculture. The trade area is surrounded by a diverse range of residential communities that attracts residents from throughout the Western United States
The subject property is a brand-new build-to-suit with the new prototypical improvements installed at this daycare facility. The long-term NNN lease provides for security and stability for the investor with minimal landlord responsibilities. TLE is situated on a large parcel of 1.07 acres with ample parking. The Learning Experience is the nation’s fastest growing early-learning academy franchise, with more than 315 operating centers and 250 more under development across 29 states. Prior to being acquired by Golden Gate Capital in 2018, TLE experienced a 210% increase in revenue over the preceding 5 years, and continues to outperform competitors, enticing more than 45% of franchisees to own two or more centers.
The subject property is strategically positioned in a prominent retail / residential location, surrounded by notable tenants such Save Mart, CVS, Target, Hobby Lobby, Wells Fargo, UPS, FedEx, a variety of QSR restaurants, medical care facilities, and schools . Situated near the hard corner of N. Blythe Ave and W. Herndon Ave with over 22,000 VPD, which is ideally set just East of Highway 99; allowing families in neighboring communities to utilize the day care facility. Strong trade area demographics include over 61,467 households within a 5-mile radius, over 16,000 children under the age of 5, and an average household income of $93,333. Fresno serves as the geographic center of California and is the central hub for transportation, commerce, and agriculture. The trade area is surrounded by a diverse range of residential communities that attracts residents from throughout the Western United States
Property Details
- Class
- B
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Day Care Facility/Nursery, Freestanding
- Lot Size (sq. ft)
- 46,609 SF
Highlights
- Strong national tenant with corporate guaranty | #1 childcare company (entrepreneur magazine franchise 500 for 2023) | 315 locations nationwide
- New long term 20 year NNN lease plus options to extend
- Growing income stream with rental increases through the initial term and option period
- Large land parcel | 1.07 acres
- New 2024 construction | Grand opening slated for Q2 2024
- Affluent area of northern Fresno - highly desirable childcare communities | Proximity to high end residential communities of Sierra Sky Park the Bluff
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