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Child Care

Kiddie Academy | Costco Shadow Anchored | Outparcel to Super Regional Grocer-Anchored Center

920 Perimeter Dr, Mount Prospect, IL 60056

Listing Price: $3,667,000

Cap Rate
6.00%
Tenant Name
Kiddie Academy
Years Remaining On Lease
11.3
Gross SF
10,000
Guarantor
Personal Guarantee
Rentable SF
10,000
Price/Gross SF
$366.70
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.00

Investment Overview

Marcus & Millichap is pleased to present Kiddie Academy located in Mount Prospect, Illinois. The subject property is shadow anchored by Costco and is an outparcel to Randhurst Village, a vibrant, open-air mixed-use center. Built-to-suit for Kiddie Academy in 2018. The original lease has over 11 years remaining on net lease with healthy rent growth with 8% increases every five years. First increase to occur on September 1, 2023. There are three, five-year options remaining. Lower rent of $22 per square foot where new construction daycare can be over $30 per square foot Located just off the heavily-trafficked intersection of Rand Road, Route 83 and Kensington Road with 47,850 total vehicles passing per day. The property is situated amongst many national retailers and restaurants. 1.5 miles from the Mount Prospect Union Pacific Northwest Line train station providing direct access to Downtown Chicago. There are attractive demographics surrounding the property with a population of 315,900 people within a five-mile radius. Average household income within a three-mile radius exceeds $124,000. High daytime population with over 118,000 people in a three-mile radius.

Investment Highlights

  • Shadow Anchored by Costco | Outparcel to Randhurst Village
  • Built-to-Suit for Kiddie Academy in 2018 | Lower Rent of $22 per Square Foot Where New Construction Daycare can be Over $30 per Square Foot
  • Over 11 Years Remaining on Net Lease
  • Located Just Off the Heavily-Trafficked Intersection of Rand Road, Route 83 and Kensington Road
  • Situated Amongst Many National Retailers and Restaurants
  • 1.5 Miles from the Mount Prospect Union Pacific Northwest Line Train Station
  • Attractive Demographics Surrounding the Property

Exclusively Listed By

Child Care

Kiddie Academy | Costco Shadow Anchored | Outparcel to Super Regional Grocer-Anchored Center

Listing Price: $3,667,000

Cap Rate
6.00%
Tenant Name
Kiddie Academy
Years Remaining On Lease
11.3
Gross SF
10,000
Guarantor
Personal Guarantee
Rentable SF
10,000
Price/Gross SF
$366.70
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.00

Investment Highlights

  • Shadow Anchored by Costco | Outparcel to Randhurst Village
  • Built-to-Suit for Kiddie Academy in 2018 | Lower Rent of $22 per Square Foot Where New Construction Daycare can be Over $30 per Square Foot
  • Over 11 Years Remaining on Net Lease
  • Located Just Off the Heavily-Trafficked Intersection of Rand Road, Route 83 and Kensington Road
  • Situated Amongst Many National Retailers and Restaurants
  • 1.5 Miles from the Mount Prospect Union Pacific Northwest Line Train Station
  • Attractive Demographics Surrounding the Property

Investment Overview

Marcus & Millichap is pleased to present Kiddie Academy located in Mount Prospect, Illinois. The subject property is shadow anchored by Costco and is an outparcel to Randhurst Village, a vibrant, open-air mixed-use center. Built-to-suit for Kiddie Academy in 2018. The original lease has over 11 years remaining on net lease with healthy rent growth with 8% increases every five years. First increase to occur on September 1, 2023. There are three, five-year options remaining. Lower rent of $22 per square foot where new construction daycare can be over $30 per square foot Located just off the heavily-trafficked intersection of Rand Road, Route 83 and Kensington Road with 47,850 total vehicles passing per day. The property is situated amongst many national retailers and restaurants. 1.5 miles from the Mount Prospect Union Pacific Northwest Line train station providing direct access to Downtown Chicago. There are attractive demographics surrounding the property with a population of 315,900 people within a five-mile radius. Average household income within a three-mile radius exceeds $124,000. High daytime population with over 118,000 people in a three-mile radius.

Exclusively Listed By

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