- Details
- Investment Highlights
- Description
Tenant
The Learning Experience
Location
Parsippany, NJ
Price
$3,902,245
CAP Rate
7.75%
NOI
$302,424
Lease Term
15 Years
Occupancy
100%
Building Size
10,438 SF
Property Type
Single Tenant
Year Built
2003
Lot Size
1.53 Acres
Status
Closed
Property Contacts:
- NNN Lease. Limited landlord responsibilities.
- Great Demographics: Over 139K People Within a 5 Mile Radius
- Average Household Income Exceeds $145k within 5 Miles
- Subject Property is Surrounded by national tenants such as Blink Fitness, Bank of America, Marshalls, Dole Corporate Campus, Dunkin Donuts and many more!
Marcus & Millichap is pleased to exclusively present for sale a NNN Learning Experience child care facility in Parsippany, NJ. The subject property has a little under 2 years remaining on the base term with 2 5-year options. The lease calls for rent increases throughout the base term and options of 8% every 5 years. Landlord responsibilities are limited to roof and structural repairs and playground replacement.
The Learning Experience®, with more than 300 centers operating or under development, is one of the nation’s fastest-growing Academies of Early Education for children from ages six weeks to six years old. The Learning Experience has generated double-digit annual growth for the past 15 years, making it a clear leader in the early childhood education sector. For nearly 20 years, The Learning Experience has provided the foundation necessary for children to succeed in preschool, kindergarten, and beyond.