Child Care

Tutor Time

6690 Old 28th St SE, Grand Rapids, MI 49546

Listing Price: $2,500,000

Cap Rate
7.62%
Tenant Name
Tutor Time Learning Centers, LLC
Years Remaining On Lease
6.10
Gross SF
10,000
Guarantor
Corporate Guarantee
Rentable SF
10,000
Price/Gross SF
$250.00
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.05

Investment Overview

Marcus & Millichap is pleased to offer for sale this 10,000-square foot Tutor Time Learning Center located in Grand Rapids, Michigan. The building was constructed in 1999 on 2.15 acres of land. Tutor Time has a 20+ year history at this site and recently extended their lease for seven years demonstrating their ongoing commitment to this location . This is a triple net lease with annual rent escalations. The only landlord responsibility is the Structure of the building.

The property is located in Cascade Township (Grand Rapids), an affluent suburb of Kent County with an average household income in a 5-mile radius of $122,000. The area has seen tremendous growth over the last decade. The property sits on Old 28th Street, less than two miles from the I-96 expressway and just off 28 Street, a major retail thoroughfare for the area. There is more than 8.3 million square feet of retail within a 5-mile radius. National retailers within the immediate vicinity include Walmart, Home Depot, Costco, Aldi and Meijer to name a few. There is very limited child care competition in the area.

Tutor Time Learning Centers provide convenient early education programs for kids ages 6 weeks to 12 years. Tutor Time is part of Learning Care Group, the the second-largest for-profit child care provider in North America and a leader in early education. In addition to Tutor Time, Learning Care Group has seven additional unique brands

Investment Highlights

  • Affluent Suburb - Average Household Income of $122,000
  • Located in Major Retail Thoroughfare - Over 8.3 Million SF of Retail
  • Limited Child Care Competition in the Area
  • Triple Net Lease with Annual Rental Increases
  • Twenty Year Operating History at this Location - Recent Lease Extension

Exclusively Listed By

Listing Price: $2,500,000

Cap Rate
7.62%
Tenant Name
Tutor Time Learning Centers, LLC
Years Remaining On Lease
6.10
Gross SF
10,000
Guarantor
Corporate Guarantee
Rentable SF
10,000
Price/Gross SF
$250.00
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.05

Investment Highlights

  • Affluent Suburb - Average Household Income of $122,000
  • Located in Major Retail Thoroughfare - Over 8.3 Million SF of Retail
  • Limited Child Care Competition in the Area
  • Triple Net Lease with Annual Rental Increases
  • Twenty Year Operating History at this Location - Recent Lease Extension

Investment Overview

Marcus & Millichap is pleased to offer for sale this 10,000-square foot Tutor Time Learning Center located in Grand Rapids, Michigan. The building was constructed in 1999 on 2.15 acres of land. Tutor Time has a 20+ year history at this site and recently extended their lease for seven years demonstrating their ongoing commitment to this location . This is a triple net lease with annual rent escalations. The only landlord responsibility is the Structure of the building.

The property is located in Cascade Township (Grand Rapids), an affluent suburb of Kent County with an average household income in a 5-mile radius of $122,000. The area has seen tremendous growth over the last decade. The property sits on Old 28th Street, less than two miles from the I-96 expressway and just off 28 Street, a major retail thoroughfare for the area. There is more than 8.3 million square feet of retail within a 5-mile radius. National retailers within the immediate vicinity include Walmart, Home Depot, Costco, Aldi and Meijer to name a few. There is very limited child care competition in the area.

Tutor Time Learning Centers provide convenient early education programs for kids ages 6 weeks to 12 years. Tutor Time is part of Learning Care Group, the the second-largest for-profit child care provider in North America and a leader in early education. In addition to Tutor Time, Learning Care Group has seven additional unique brands

Exclusively Listed By

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