Child Care
The Learning Experience | Affluent Demos | Adjacent to Brand-New Meijer | Dense Trade Area
5840 Promenade Shops Blvd, Noblesville (Indianapolis MSA), IN 46062
Listing Price: $5,050,000
Investment Overview
Marcus & Millichap is pleased to present for sale The Learning Experience located in the city of Noblesville, the county seat of Hamilton County; one of Indiana’s most affluent and premier areas. The Property features a brand-new, 20-year passive lease commencing January 2024 and offers 11% rental escalators every five years throughout the base term and during the two, five-year option periods.
Built in 2023, the 10,000 square foot facility (plus an additional 5,000+- outdoor play area) sits on 1.46 acres of prime real estate along a major east and west corridor that connects downtown Noblesville to downtown Westfield and leads directly into U.S. 31. The immediate signalized intersection of State Road 32 (Westfield Blvd.) and Hazel Dell Road experiences +/-35,000 VPD and on the southeast corner; there is a +/-$72M Mixed-Use, Retail and Residential Development underway called Midland Pointe, which will include residential townhomes, multi-tenant retail strip center, a bank, Crew Car Wash and the one of the first Wawas to enter the Indiana market. Additionally, the Property is part of a master-planned development called Promenade of Noblesville, which includes Promenade Apartments, Promenade Trails (Senior living), Meijer and a new corporate office headquarters. The immediate area is being transformed into a major shopping, dining and residential destination area of Hamilton County.
The offering is the perfect investment opportunity for any passive investor looking for high quality real estate in a premier and affluent submarket with high barriers of entry and limited real estate transaction velocity with long-term, leased tenancy in an early-education industry experiencing exceptionally strong demand.
The Learning Experience | Affluent Demos | Adjacent to Brand-New Meijer | Dense Trade Area
Investment Highlights
- Tenant is Responsible For Common Area Maintenance, Property Taxes, Insurance, HVAC & Parking Lot
- 20 Year Base Lease Term with Two, Five-Year Options to Renew
- 11% Rental Increases Every 5 Years and Each Renewal Option
- +/-$70M Mixed-Use Development (Midland Pointe) Across Street will Include Wawa, Crew Car Wash, Bank Building, Retail Strip Centers and Residential Townhomes
- 5-Mile Average Household Income of +/-$128,000 and 5-Mile Consumer Spending Approximately $2.3 Billion
Exclusively Listed By
Child Care
The Learning Experience | Affluent Demos | Adjacent to Brand-New Meijer | Dense Trade Area
Listing Price: $5,050,000
Investment Highlights
- Tenant is Responsible For Common Area Maintenance, Property Taxes, Insurance, HVAC & Parking Lot
- 20 Year Base Lease Term with Two, Five-Year Options to Renew
- 11% Rental Increases Every 5 Years and Each Renewal Option
- +/-$70M Mixed-Use Development (Midland Pointe) Across Street will Include Wawa, Crew Car Wash, Bank Building, Retail Strip Centers and Residential Townhomes
- 5-Mile Average Household Income of +/-$128,000 and 5-Mile Consumer Spending Approximately $2.3 Billion
Investment Overview
Marcus & Millichap is pleased to present for sale The Learning Experience located in the city of Noblesville, the county seat of Hamilton County; one of Indiana’s most affluent and premier areas. The Property features a brand-new, 20-year passive lease commencing January 2024 and offers 11% rental escalators every five years throughout the base term and during the two, five-year option periods. Built in 2023, the 10,000 square foot facility (plus an additional 5,000+- outdoor play area) sits on 1.46 acres of prime real estate along a major east and west corridor that connects downtown Noblesville to downtown Westfield and leads directly into U.S. 31. The immediate signalized intersection of State Road 32 (Westfield Blvd.) and Hazel Dell Road experiences +/-35,000 VPD and on the southeast corner; there is a +/-$72M Mixed-Use, Retail and Residential Development underway called Midland Pointe, which will include residential townhomes, multi-tenant retail strip center, a bank, Crew Car Wash and the one of the first Wawas to enter the Indiana market. Additionally, the Property is part of a master-planned development called Promenade of Noblesville, which includes Promenade Apartments, Promenade Trails (Senior living), Meijer and a new corporate office headquarters. The immediate area is being transformed into a major shopping, dining and residential destination area of Hamilton County. The offering is the perfect investment opportunity for any passive investor looking for high quality real estate in a premier and affluent submarket with high barriers of entry and limited real estate transaction velocity with long-term, leased tenancy in an early-education industry experiencing exceptionally strong demand.
Exclusively Listed By
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