The Learning Experience

  • $4.6M
94 Broad St, Eatontown, NJ 07724, USA

The Learning Experience

94 Broad St, Eatontown, NJ 07724, USA
  • $4.6M

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Title Property Type Price Beds Baths Property Size Availability Date
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Description

Marketing Description
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, freestanding, corporate guaranteed, The Learning Center investment property located in Eatontown, New Jersey (Monmouth County). The tenant recently executed a brand new 15-year lease with 2 (5-year) option periods to extend. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is franchisee guaranteed and is owned by an experience operator with over 5 years of history managing within the TLE organization. In addition, the lease is corporate guaranteed by The Learning Experience Corporation for the first 5 years. Additionally, the lease is NNN with landlord responsibilities limited to roof and structure. The brand new 2019 construction was completed using high quality materials and includes an enclosed playground.
The Learning Experience is strategically located along Broad Street/County Road 537 (14,400 VPD), a local residential and retail thoroughfare serving the city of Eatontown. The asset is just half a mile east of Main Street/Route 35 (37,800 VPD), the primary retail corridor in the area with access to a number of major shopping destinations. The Monmouth Mall, an enclosed split level shopping mall (1.5M SF of retail) is located just 1.5 miles south of the property featuring anchor tenants Macy’s, Boscov’s, JCPenney, and AMC Theaters. Other national/credit tenants in the area include Lowe’s Home Improvement, The Home Depot, Trader Joe’s, Saks Off 5th, Marshalls, HomeGoods, Staples, Petco, Bed Bath & Beyond, TJMaxx, and more, further increasing consumer traffic to the trade area. The 5-mile trade area is supported by a population of more than 151,000 residents and 86,000 employees. The 1-mile area has an affluent average household income of $133,000, which is the ideal target demographic for any day care brand. Monmouth County is the 5th wealthiest county in New Jersey, and is also the 5th most populous county in the state.

Investment Highlights
Franchisee & Corporate Guaranteed | New 15-Year Lease | Options To Extend | Scheduled Rental Increases
NNN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
Brand New 2019 Construction | 5,000 SF Recreation Area
Strong Demographics in Affluent 5-Mile Trade Area | Ideal Target Market
Directly Along Broad Street | Near Major Retail Thoroughfare
Nearby Monmouth Mall (1.5M SF of Retail) | National/Credit Presence | Increases Consumer Traffic

Broker of Record
David Wirth
License: 1007635

Details

Updated on April 12, 2020 at 6:37 pm
  • Property ID: 30882
  • Price: $4.6M
  • Property Size: 10000 sqft
  • Year Built: 2019
  • Property Type: Retail
  • Property Status: For Sale
  • Lot Size (acres): 1.02
  • Tenancy: Single
  • Cap Rate: 7.00%
  • Net Operating Income: $320,000

Additional details

  • Lease Type: NNN
  • Tenant Credit: Franchisee, Corporate Guarantee
  • Zoning: B-1: Business Zone
  • Parking (spaces): 41
  • APN: 12-01002-0000-00007
  • Lease Options: 2 (5-Year)
  • Ownership: Fee Simple (Land & Building Ownership)
  • Address 94 Broad St, Eatontown, NJ 07724, USA
  • City Eatontown
  • State/county New Jersey
  • Zip/Postal Code 07724
  • Country United States

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What's Nearby?

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Contact Information

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Britt Raymond
  • Britt Raymond
  • (929) 229-2614

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Britt Raymond
  • Britt Raymond