KinderCare Child Care Learning
7221 Woodland Dr. Indianapolis, IN 46278
7221 Woodland Dr., Indianapolis, IN, 46278
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For Sale
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Portfolio of five KinderCare learning centers in the Indianapolis MSA, operated for many years under NN leases.
Days on Market104
Property Features for 7221 Woodland Dr.
General Information
- Standard status
- Active
- Property subtype
- Special Purpose, Office
Listing agency
Fortis Net Lease
Listed by
Robert Bender · License #MI 6501323470
Source
Crexi
Added: Apr 10 Updated: Jul 21 at 10:33PM Checked: Jul 21 at 10:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fortis Net Lease
Investment Insights
Based on property information with market context.
Fortis Net Lease presents a portfolio of five KinderCare learning centers in the Indianapolis MSA. The properties have been successfully operating for many years and recently received more than $300,000 in repairs and aesthetic improvements. The portfolio totals $464,525 in annual NOI. The owner prefers to sell the assets as a single portfolio, but will consider selling individually or in smaller groupings.
In September 2016, early lease renewals resulted in 6.5-year extensions on all properties. In connection with the extensions, the leases changed from true triple net to double net (NN). No rent concessions were given, and each lease includes scheduled rental increases every few years, except for the East 75th Street location, which is flat through 2030. Under the NN structure, the landlord is responsible for capital replacements to the roof and structure, parking lot, and snow removal and landscaping, with snow and landscaping costs for all five locations totaling just under $400 per month per property.
In September 2016, early lease renewals resulted in 6.5-year extensions on all properties. In connection with the extensions, the leases changed from true triple net to double net (NN). No rent concessions were given, and each lease includes scheduled rental increases every few years, except for the East 75th Street location, which is flat through 2030. Under the NN structure, the landlord is responsible for capital replacements to the roof and structure, parking lot, and snow removal and landscaping, with snow and landscaping costs for all five locations totaling just under $400 per month per property.
Key Highlights
- Portfolio of five KinderCare learning centers in the Indianapolis MSA with total annual NOI of $464,525
- All five properties have received significant lease extensions, with 6.5‑year extensions executed on all properties
- Leases were changed from true triple net to double net (NN) in connection with the September 2016 early renewals
Property Analytics
Location Intelligence
Current Use by Public Records
Woodland Drive KinderCare
Daycare Center
Similar For Sale Nearby
Similar Off Market Nearby
- Day Early Learning at Park 100 — 5735 W 73rd St, Indianapolis, IN 46278
- Intech Park KinderCare — 7010 Intech Blvd, Indianapolis, IN 46278
- Woodland Drive KinderCare — 7221 Woodland Dr, Indianapolis, IN 46278
FAQs
What type of property is this?
Day care center - Portfolio of five KinderCare learning centers in the Indianapolis MSA, operated for many years under NN leases.
Where is this day care center located?
The property is located at 7221 Woodland Dr. Indianapolis, IN.
What are key features of this property?
This property features: Portfolio of five KinderCare learning centers in the Indianapolis MSA with total annual NOI of $464,525; All five properties have received significant lease extensions, with 6.5‑year extensions executed on all properties; Leases were changed from true triple net to double net (NN) in connection with the September 2016 early renewals
