The Growing Years
Clayton, NC
Key Details
| Price: | $5,451,031 |
|---|---|
| Cap Rate: | 6.75% |
| Annual Rent: | $367,945 |
| Address: | 24 Briarcliff Dr, Clayton, North Carolina 27527 |
| Property Type: | Specialty |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 10/8/2021 |
| Lease Expiration: | 10/31/2041 |
| Lease Term Remaining: | 16.6 Years |
| Rental Increases: | Lesser of CPI or 2% Annual |
| Lot Size: | 2.16 Acres |
| Building Size: | 14,000 SF |
| Year Built: | 2021 |
NNN Pro is pleased to present the exclusive listing for a The Growing Years located at 24 Briarcliff Dr, Clayton, North Carolina 27527. The site consists of roughly 14000 rentable square feet of building space on an estimated 2.16-acre parcel of land. This The Growing Years is subject to a 20-year Triple Net (NNN) lease, which commenced 10/8/2021. The current annual rent is $367,945 and has scheduled increases of Lesser of CPI or 2% Annual.
About the Investment
- Long-Term, 20-Year Absolute Triple Net (NNN) Lease
- Approximately 17.4 Years Remaining
- Annual Increases | Lesser of CPI or 2%
- Two(2), Five (5)-Year Tenant Renewal Options
- Strong Enrollment Numbers | Contact Agent for Details
- The Childcare Market Has Increased To A $65.1 Billion Valuation In 2023 With Growth Expected To Compound At Nearly 4% Through 2027
- Early Education Has Seen A 210% Revenue Increase Over The Last Five Years
- Over 60% of families with young children have both parents working, creating a strong need for childcare.
About the Location
- Clayton, NC, Is Experiencing Significant Growth, With Its Population Doubling Since 2000
- Clayton Has Earned The Title Of Fastest-growing Town In Johnston County. This Growth Is Projected To Continue, Potentially Doubling The Town's Size Again In The Next 30 Years.
- Population Exceeds 67,700 Individuals Within A Five-mile Radius
- Strong Real Estate Fundamentals | Located Less Than 15-miles From Raleigh, NC Offering Easy Access To Jobs And Amenities
- Strong Traffic Counts | Over 23,400 And 45,900 Vehicles Per Day Along State Route 42 And US Route 70
- The Property Is Situated Within A Large, Mixed-use Development With More Retail And Housing Set To Be Delivered
- Affluent Community | Average Household Income Exceeding $100,200 Within A One-mile Radius And $98,800 Within A Five-mile Radius
About the Tenant/Brand
- Premier Early Childhood Education has Been Successfully Operating and Growing Since 2018
- The Tenant/Guarantor Now Operates 120 Locations, with numerous others under LOI for acquisition.
- Highly Experienced Management Team with Expansive Education and Platform Building Backgrounds | Company Now Employs Roughly 3,400 Employees
- Significant Financial Sponsorship With Qualified Equity Sponsor
Key Details
| Price: | $5,451,031 |
|---|---|
| Cap Rate: | 6.75% |
| Annual Rent: | $367,945 |
| Address: | 24 Briarcliff Dr, Clayton, North Carolina 27527 |
| Property Type: | Specialty |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 10/8/2021 |
| Lease Expiration: | 10/31/2041 |
| Lease Term Remaining: | 16.6 Years |
| Rental Increases: | Lesser of CPI or 2% Annual |
| Lot Size: | 2.16 Acres |
| Building Size: | 14,000 SF |
| Year Built: | 2021 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Cade Kearn
ckearn@nnnpro.com
License: NY: 10401306065
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Broker of Record
Brian Brockman
Bang Realty-North Carolina, Inc
License: 298998
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.