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Child Care

Cadence Education | Child Care Facility

22900 Midland Dr, Shawnee, KS 66226

Listing Price: $3,348,764

Cap Rate
6.00%
Tenant Name
Cadence Education
Years Remaining On Lease
9.6
Gross SF
6,080
Guarantor
Corporate Guarantee
Rentable SF
6,080
Price/Gross SF
$550.78
Lease Type
Double Net
Rent Per Square Feet
$33.05

Investment Overview

Marcus & Millichap is pleased to present Cadence Education child care facility with just under 10 years remaining on a double-net lease. The property is 6,080 SF and sits on 1.06 acres of land in the highly affluent suburbs of the "AAA" bond rated Johnson County Kansas, which is the highest tax bracket county in the entire state. The asset is situated on the city limits of Shawnee, Lenexa, Olathe and Desoto which boast some of the most affluent demographics and highest rated schools in the state. The average Household income is $127,837 (1 mile), $141,544 (3 mile) as well as a large percentage of residents with degrees, 31-35% Bachelor's Degree, and 20-21% Graduate Degree (1-3 mile respectively) - both a key demographic for child care success, The lease is guaranteed by Cadence Education and backed by 225 locations nationwide and 28 years of experience. The corporate lease offers an excellent inflation hedge with annual CPI rent escalations as calculated by Bureau of Labor Statistics for the Kansas City metro. Cadence Education paid throughout the 2020 pandemic and there was no request by Cadence Education for rent abatement or deferment. Cadence Education pays all expenses direct - the property taxes, insurance, common area maintenance (CAM), as well as repairs of parking lot and HVAC - and HVAC replacement amortized over life of unit - making this a true passive investment. The property was a built-to-suit childcare facility with top-of-the-line construction and forward thinking, non-structural interior walls to accommodate future expansion or repositioning opportunities. The landlord is responsible for roof and structural replacement.

Investment Highlights

  • Just Under 10 Years Remaining | NN Lease
  • Tenant Pays Expenses Direct | Passive Investment
  • Annual 2% Rent Increases | Inflation Hedge
  • Corporate Guarantee | 225 Locations
  • Affluent Demographics | Excellent Schools | New Home Construction
  • Cadence Education (Guarantor) Has Over 28 Years of Experience

Exclusively Listed By

Child Care

Cadence Education | Child Care Facility

Listing Price: $3,348,764

Cap Rate
6.00%
Tenant Name
Cadence Education
Years Remaining On Lease
9.6
Gross SF
6,080
Guarantor
Corporate Guarantee
Rentable SF
6,080
Price/Gross SF
$550.78
Lease Type
Double Net
Rent Per Square Feet
$33.05

Investment Highlights

  • Just Under 10 Years Remaining | NN Lease
  • Tenant Pays Expenses Direct | Passive Investment
  • Annual 2% Rent Increases | Inflation Hedge
  • Corporate Guarantee | 225 Locations
  • Affluent Demographics | Excellent Schools | New Home Construction
  • Cadence Education (Guarantor) Has Over 28 Years of Experience

Investment Overview

Marcus & Millichap is pleased to present Cadence Education child care facility with just under 10 years remaining on a double-net lease. The property is 6,080 SF and sits on 1.06 acres of land in the highly affluent suburbs of the "AAA" bond rated Johnson County Kansas, which is the highest tax bracket county in the entire state. The asset is situated on the city limits of Shawnee, Lenexa, Olathe and Desoto which boast some of the most affluent demographics and highest rated schools in the state. The average Household income is $127,837 (1 mile), $141,544 (3 mile) as well as a large percentage of residents with degrees, 31-35% Bachelor's Degree, and 20-21% Graduate Degree (1-3 mile respectively) - both a key demographic for child care success, The lease is guaranteed by Cadence Education and backed by 225 locations nationwide and 28 years of experience. The corporate lease offers an excellent inflation hedge with annual CPI rent escalations as calculated by Bureau of Labor Statistics for the Kansas City metro. Cadence Education paid throughout the 2020 pandemic and there was no request by Cadence Education for rent abatement or deferment. Cadence Education pays all expenses direct - the property taxes, insurance, common area maintenance (CAM), as well as repairs of parking lot and HVAC - and HVAC replacement amortized over life of unit - making this a true passive investment. The property was a built-to-suit childcare facility with top-of-the-line construction and forward thinking, non-structural interior walls to accommodate future expansion or repositioning opportunities. The landlord is responsible for roof and structural replacement.

Exclusively Listed By

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