Current Use by Public Records
- Day care centers
Property Details for 120 Baize Blvd
- Year built
- 2023
- Property type
- Day care centers
- Property subtype
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a newly constructed, 10,000-square-foot daycare center in Hickory Creek, Denton County, Texas. Located at 120 Baize Blvd, 75065, this Class A property boasts a prime location with I-35 frontage, offering unparalleled visibility and accessibility. The property features a 15-year NNN lease with a corporate guarantee from The Learning Experience, a rapidly expanding national franchise, ensuring a stable and predictable income stream. The lease commenced January 13, 2024, and expires January 12, 2039, with built-in rent bumps of 8% every five years. The current NOI is $340,000, with a pro-forma NOI of $367,200, resulting in a current cap rate of 6.25% and a pro-forma cap rate of 6.75%. The asking price is $5,440,000, translating to $544 per square foot. The property includes 22 parking spaces and sits on a 51,400-square-foot lot. Built in 2023, this single-story building offers a 100% occupancy rate, with the occupancy date being January 15, 2024. The property benefits from a thriving local economy, with high average household incomes and a large population within a five-mile radius. This is a turnkey investment with minimal landlord responsibilities, offering significant free cash flow and strong returns. Two lease options are included.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hickory Creek
- County
- Denton
- State
- Texas
- Longitude
- -97.0367
- Latitude
- 33.1213
