Property Listing No Longer Available for Sale

203 Piedmont Triad West Drive

Mount Airy, NC

Others for Sale - $1,021,867 - 7,664 Sq. Ft. on 49299.44 acres


Property Info

CIMLS#752019
Location
  203 Piedmont Triad West Drive
  Mount Airy NC 27030
UpdatedOctober 7th, 2014
TypeOthers
Price$1,021,867
Building7,664 Sq. Ft.
Land49299.44 acres

Property Description

Marcus & Millichap is pleased to present a Rainbow Childcare Center located in Mount Airy, North Carolina. The tenant will sign a new 10 year corporate guaranteed, absolute-net lease, with two five-year options and 2.5 percent annual rent increases at close of escrow.

Rainbow Childcare Centers are one of the top childcare providers in the country. They have over 100 locations throughout the eastern United States and continue to aggressively expand. They are backed by a large private equity firm that manages over 650 million dollars in assets.

The subject property at 203 Piedmont Triad West Drive was a build-to-suit in 2006 for Mayberry Learning Center and has been a successful childcare operation since its inception. The current tenant, Rainbow Childcare, took over operations in 2010. They have shown a strong commitment to the location with significant improvements to the building such as new floors, carpeting, painting and a full branding overhaul.

This asset offers a safe investment with a strong return. It is ideal for Investors in a 1031 exchange or looking for a long-term hold.

Location Description:

Located in Mount Airy, North Carolina.

Highlights:

>> New 10-Year Absolute-Net Lease - No Landlord Responsibilities

>> Strong Corporate Guarantee - Over 100 Locations

>> 2.5 Percent Annual Increases - Two Five-Year Options

>> Build-to-Suit in 2006 - Renovated in 2010

>> Below Market Rent - Easy Tenant Replacement

* Email for additional photos


Financials

Sales Info:

>> Cap rate: 7.5%

>> NOI: $76640