Cap Rate: 4.75%
Net Operating Income: $295,036
Square Footage: 18,000
*In Cooperation with Real Estate Broker - PA, Chichi Ahia Lic# RM432727
The Kase Group is pleased to present the opportunity to acquire a freestanding KinderCare property located in Philadelphia, PA. The subject property is a retail condo measuring 18,000 SF with two stories. KinderCare renovated this location in 2020. The lease is absolute NNN with no landlord obligations and 3% rental increases annually.
The lease commenced in October 2018 and runs through March of 2034. It comes with three, 5-year options and 10% increases at each option.
Philadelphia is a city in the Commonwealth of Pennsylvania in the United States. It is the sixth-most-populous city in the United States and the most populous city in the state of Pennsylvania, with a 2019 estimated population of 1,584,064. It is also the second-most populous city in the Northeastern United States, behind New York City. Since 1854, the city has had the same geographic boundaries as Philadelphia County, the most-populous county in Pennsylvania and the urban core of the eighth-largest U.S. metropolitan statistical area, with over 6 million residents as of 2017. Philadelphia is also the economic and cultural center of the greater Delaware Valley along the lower Delaware and Schuylkill rivers within the Northeast megalopolis. The Delaware Valley’s 2019 estimated population of 7.21 million makes it the ninth-largest combined statistical area in the United States.