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Child Care

Childtime

1189 Tallmadge Rd, Cuyahoga Falls, OH 44221

Listing Price: $1,000,000

Cap Rate
7.20%
Tenant Name
Childtime
Years Remaining On Lease
6.5
Gross SF
5,644
Guarantor
Corporate Guarantee
Rentable SF
5,644
Price/Gross SF
$177.18
Lease Type
Absolute Net
Rent Per Square Feet
$12.76

Investment Overview

Marcus & Millichap is pleased to present the fee simple interest in this single tenant net leased day care center located in Cuyahoga Falls, Ohio. This 5,644-square-foot property has over six years remaining on a recently extended seven year Absolute Triple-Net (NNN) lease. There are three, five-year renewal options with rental increases in each option. There are no landlord responsibilities and the lease is corporately guaranteed by the Learning Care Group, the second largest for-profit child care provider in the United States. The property features two points of ingress with signage on both Tallmadge Road and Bailey Road. There are 17 parking spaces with a porte-cochre entryway and a fully fenced recreational area. The building sits in a dense retail corridor near multiple national tenants such as Sams Club, Target, Big Lots, Home Depot and Starbucks.

The subject property is located five and a half miles from downtown Akron and 1.4 miles from downtown Cuyahoga Falls. Cuyahoga Falls is a city in Summit County, Ohio. As of the 2010 census, the city population was 49,652. It is the second-largest city in Summit County. The city was founded in 1812 by William Wetmore and was originally named Manchester, but renamed for the Cuyahoga River and the series of waterfalls that run along the southern boundary of the city. Cuyahoga Falls was formed in 1812 near the junction of what was then Northampton, Stow, Tallmadge, and Portage townships. The focus was the series of Cuyahoga River waterfalls that provided power for manufacturing.

Childtime is one of the nations largest providers of child care and preschool educational services. Their first center began operating in 1967. Over the last 30 years they have grown into a network of centers operating in 23 states and the District of Columbia. Childtime Learning Centers offer child care, preschool and school age educational services to children, infancy through 12 years. Included in their network of centers are a number of at-work centers operated in hospitals, corporations, government and office parks.

Investment Highlights

  • Brand New Seven Year Absolute Net Lease Extension with Three, Five-Year Options
  • Proven Location: In Operation Since 1983
  • Lease is Guaranteed by Learning Care Group
  • Situated Near Dense Retail Corridor with Multiple National Retail Tenants
  • Property Has Frontage Along Both Tallmadge Road (11,695 Vehicles Per Day)
  • Strong Demographics: Population Exceeds 10,000, 86,000 and 103,000 in 1,3, 5 Miles

Exclusively Listed By

Listing Price: $1,000,000

Cap Rate
7.20%
Tenant Name
Childtime
Years Remaining On Lease
6.5
Gross SF
5,644
Guarantor
Corporate Guarantee
Rentable SF
5,644
Price/Gross SF
$177.18
Lease Type
Absolute Net
Rent Per Square Feet
$12.76

Investment Highlights

  • Brand New Seven Year Absolute Net Lease Extension with Three, Five-Year Options
  • Proven Location: In Operation Since 1983
  • Lease is Guaranteed by Learning Care Group
  • Situated Near Dense Retail Corridor with Multiple National Retail Tenants
  • Property Has Frontage Along Both Tallmadge Road (11,695 Vehicles Per Day)
  • Strong Demographics: Population Exceeds 10,000, 86,000 and 103,000 in 1,3, 5 Miles

Investment Overview

Marcus & Millichap is pleased to present the fee simple interest in this single tenant net leased day care center located in Cuyahoga Falls, Ohio. This 5,644-square-foot property has over six years remaining on a recently extended seven year Absolute Triple-Net (NNN) lease. There are three, five-year renewal options with rental increases in each option. There are no landlord responsibilities and the lease is corporately guaranteed by the Learning Care Group, the second largest for-profit child care provider in the United States. The property features two points of ingress with signage on both Tallmadge Road and Bailey Road. There are 17 parking spaces with a porte-cochre entryway and a fully fenced recreational area. The building sits in a dense retail corridor near multiple national tenants such as Sams Club, Target, Big Lots, Home Depot and Starbucks.

The subject property is located five and a half miles from downtown Akron and 1.4 miles from downtown Cuyahoga Falls. Cuyahoga Falls is a city in Summit County, Ohio. As of the 2010 census, the city population was 49,652. It is the second-largest city in Summit County. The city was founded in 1812 by William Wetmore and was originally named Manchester, but renamed for the Cuyahoga River and the series of waterfalls that run along the southern boundary of the city. Cuyahoga Falls was formed in 1812 near the junction of what was then Northampton, Stow, Tallmadge, and Portage townships. The focus was the series of Cuyahoga River waterfalls that provided power for manufacturing.

Childtime is one of the nations largest providers of child care and preschool educational services. Their first center began operating in 1967. Over the last 30 years they have grown into a network of centers operating in 23 states and the District of Columbia. Childtime Learning Centers offer child care, preschool and school age educational services to children, infancy through 12 years. Included in their network of centers are a number of at-work centers operated in hospitals, corporations, government and office parks.

Exclusively Listed By

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