OFFERING SUMMARY:

PRICE: $3,847,000
CAP RATE: 6.50%
BUILDING SIZE: 26,924 Sq Ft
NOI: $250,000
YEAR BUILT | RENOVATED: 2003 | 2021
LOT SIZE: +/- 4.16 Acres

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HIGHLIGHTS:

  • Learning Jungle Guaranty – Top 20 Corporate Operator – Learning Jungle is one of the Top 20 Corporate child care companies in the country. Learning Jungle opened in 2002 with a commitment to deliver quality educational child care for families. Our industry experts and leading child care practitioners share methodologies and practices across the globe to make a positive impact in children’s lives through learning. We are proud to deliver consistent best practices, while ensuring we preserve the unique offerings and qualities of the communities we serve.
  • 12+ Years Remaining on a 15-Year Lease – Learning Jungle a new 15-year lease at the subject property in 2020. The lease has zero landlord responsibilities and offers 1.75% annual increases in rent. In addition to the 15-year base lease term, the tenant has four, five-year options to renew with the same rent increase structure annually.
  • Affluent Marketplace with $124,000+ AHHI – Concord boasts a thriving economic environment, characterized by diverse sectors such as manufacturing, health care, retail, education, and tourism. Major contributors to this economic vigor include esteemed employers like Cabarrus Health Alliance, Atrium Health, Speedway Motorsports, Inc., Kings Automotive Group, and S&D Coffee & Tea. Furthermore, the city is a tourism magnet, especially for motorsport enthusiasts visiting the NASCAR-affiliated Charlotte Motor Speedway and shoppers drawn to the vast Concord Mills mall.
  • Charlotte MSA | Major Growth Market – Concord holds the distinction of being both the county seat and the largest city in Cabarrus County, located in North Carolina, USA. As per the 2020 census data, the city boasts a population of 101,808. Within the Charlotte metropolitan region, Concord is the second-largest city by population, ranking 10th in North Carolina and 287th in the United States. Charlotte, NC is the largest city in North Carolina and the 15th-most populous city in the United States. It is located in the Piedmont region, which is known for its rolling hills and scenic landscapes. Charlotte is a major financial center, hosting the headquarters of Bank of America, Truist Financial, and Wells Fargo’s East Coast operations.

EXCLUSIVELY LISTED BY:

DOMINIC SULO
Senior Managing Director Investments
Senior Director, Net Lease Properties Division
(630) 570-2171
dominic.sulo@marcusmillichap.com

NORTH CAROLINA BOR
Ben Yelm
Lic #303785