Property for Sale

Overview

INVESTMENT SALE - TRIPLE NET SPECIAL USE PROPERTY + Fully occupied one-story masonry property built in 1983 on .81 acres designed for and used as a child care facility + Located one block from Chapel Hill Mall near the Six Corners Intersection – accessed via Bailey Road or Tallmadge Roads + Total building size of 5,644 SF with exterior playground + Summit County Parcels 209847, 209849, 209845, 209846 and 209848 + Zoned M-2, Neighborhood Center + Taxes and Insurance billed to tenant by landlord + Tenant handles all maintenance and repair costs, including parking lot and landscape maintenance + Lease is structured as Triple Net with annual rental increases equal to 1/2 of CPI. + Current annual rental as of 10/1/2018 is $70,661.61 + Tenant has occupied since Proforma Annual Rental Income $70,662 Less: Vacancy Factor 8% $5,653 Effective Net Income $65,009 Less: Reserves & Professional Fees 5% $3,250 Net Income $61,759 Cap Rate 8.64% $715,000
Less

Location Description

Tenant: Childtime https://www.childtime.com/ Founded in 1967 as a division of Gerber Products Corporation, Childtime now has more than 200 learning centers across the country—many conveniently located in hospitals, government facilities, corporate sites, and office parks. They offer child care and early education services to children from ages six weeks through 12 years. Childtime is a subsidiary of Learning Care Group, Inc., the second largest for-profit provider of early childhood care and education services in the United States. The special use building has 7 child care rooms, kitchen with hood and pantry, office lobby and storage. Exterior offers a drive-up canopy and outdoor fenced play areas.

Sizes and Measurements

Total Space Available

5,644 sqft

Pricing Information

FOR SALE

$71,500

Floorplan

Floor Plan.jpg

Photos

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Sign.jpg
Classroom.jpg
Classroom.jpg
Kitchen.jpg
Outsides.jpg
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