NNN Childcare
For Sale
Contact for pricing
350 N 96th Ave, Tolleson, AZ 85353
Corporate-operated preschool facility with an absolute NNN lease and contractual rent increases.
Property Size8,775 SF
Price / SF$393.19
Days on Market126
Property Features for 350 N 96th Ave
General Information
Standard status
Active
Size
8,775 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Building Details
Year Built
2017
Tenancy
Single
Listing Agency:
Essential Capital Advisors
Listed By:
Milo Spector · License #01959211
Source:
Crexi
Added: Apr 27
Changed: Aug 30
Last Checked: Aug 30 at 2:40AM
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 Essential Capital Advisors
Investment Insights
Based on property information with market context.
This 8,775-square-foot childcare property was built in 2017 and operates as Sunrise Preschools (Child Development Schools). The asset is subject to an absolute NNN lease with rent increases, and the operator is identified as a 100% corporate entity.
The property is located at 350 N 96th Ave in Tolleson, Arizona, within the Phoenix MSA. The offering reflects a 7.50% CAP rate and combines a specialized operating use with a defined lease structure.
The property is located at 350 N 96th Ave in Tolleson, Arizona, within the Phoenix MSA. The offering reflects a 7.50% CAP rate and combines a specialized operating use with a defined lease structure.
Key Highlights
- 8,775 SF childcare property built in 2017
- Sunrise Preschools (Child Development Schools) operation
- 100% corporate operator
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$110,639
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,212,780
$2.2M
Cap Rate 7%
$1,580,557
$1.6M
Cap Rate 9%
$1,229,322
$1.2M
Market Conditions
NOI Build-Up for 8,775 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$166.4K $18.96/SF
− Vacancy
−$8.3K −$0.95/SF
EGI
$158.1K $18.01/SF
− OpEx
−$47.4K −$5.40/SF
NOI
$110.6K $12.61/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,212,780
Cap Rate 7%
$1,580,557
Cap Rate 9%
$1,229,322
Alternative Uses
Best Use
Retail
$1.58M
$1.38M – $1.84M
NOI $110,639 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.71M
$2.38M – $3.17M
NOI $190,004 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
128k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 37%
Home Improvements & Furnishings 18%
Hotels & Casinos 1%
QuikTrip
Shops & Services
40,260 visits/mo
0.4 miles
Tractor Supply Co.
Home Improvements & Furnishings
22,710 visits/mo
0.4 miles
SONIC Drive In
Dining
12,119 visits/mo
0.1 miles
Burger King
Dining
10,856 visits/mo
0.5 miles
Family Dollar
Shops & Services
10,013 visits/mo
0.1 miles
Demographics for 85353, AZ
42,936
Population
12,500
Households
3.4
Avg Household Size
28
Median Age
14%
College-Educated
74%
High-School Grad
21.5 sq mi
ZIP Area
1,997
Density / Sq Mi
$88,867
Median Household Income
$41,376
Median Earnings
$1,626
Median Rent
$344,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Corporate-operated preschool facility with an absolute NNN lease and contractual rent increases.
Where is this nnn property located?
The property is located at 350 N 96th Ave Tolleson, AZ.
What is the asking price?
The asking price for this property is $3,450,200.
What are key features of this property?
This property features: 8,775 SF childcare property built in 2017; Sunrise Preschools (Child Development Schools) operation; 100% corporate operator
