Marcus & Millichap is pleased to present this absolute-net leased Knowledge Beginnings childcare center located in the growing affluent community of Katy, Texas. Knowledge Beginnings is the premier brand of Knowledge Universe, the parent company of KinderCare. The subject property at 6130 South Fry Road is in a superb location, in the midst of a massive housing development, across the street from an elementary school and just down the road from a major retail development which includes a brand new Whole Foods Market. The population around this location has grown 188 percent since the building was built in 2000 and the average household income within one mile is $157,000. In addition to a great location, this property offers a corporate guarantee from the largest childcare provider in the country, Knowledge Universe. There are zero landlord responsibilities. The lease has approximately six years remaining and a new owner can be confident they will stay well into their option periods. This opportunity offers a great building, in a phenomenal location, with a credit tenant, and significant upside. It would be a great asset for those in a trade or looking for a long term hold. Sales Info: ■ Cap rate: 8.23% ■ NOI: $219,810 Location Description: This Knowledge Beginnings childcare center is located in the growing affluent community of Katy, Texas. Highlights: ■ Absolute-Net Lease with Knowledge Universe (KinderCare) ■ Population Growth of 188 Percent Since 2000 - Average Household Income of $157,000 ■ Below Market Rents - $14.13 per Square Foot ■ Superb Location - In the Middle of Major Housing Development and Across from Elementary School ■ Large Upside – Double Digit Percentage Rental Increases Every 5 Years ■ 8.23 Percent Cap Rate Based on 2016 Income - 7.00 Percent Cap Rate Based on Current Income « show less
Marcus & Millichap is pleased to present this absolute-net leased Knowledge Beginnings childcare center located in the growing affluent community... show more »
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