2220 64Th St Byron Center, MI 49315
- Commercial land
- 0.85 lot acres
Current Use by Public Records
- Commercial land
Property Details for 2220 64Th St
- Lot size
- 0.85 lot acres
- Property type
- Commercial land
- APN
- 41-21-03-302-009
- APU
- 412103302009
Description
Exceptional investment opportunity in Byron Center, Michigan, presents a brand-new, 10,000-square-foot Class A daycare center. This property boasts a 15-year initial lease term with two 5-year options to extend, ensuring long-term stability and predictable cash flow. The tenant, The Learning Experience, is America's #1 fastest-growing childcare franchise, with over 600 centers open or under development. This NNN (Net Lease) structure shifts most operating expenses to the tenant, minimizing landlord responsibilities. The property features a 7.00% cap rate and a strong net operating income (NOI) of $350,000. The asking price is $5,000,000, translating to a price per square foot of $500. Construction is estimated to be complete in December 2023, with occupancy commencing April 30, 2024. The lease includes 8% rental increases every 5 years, providing built-in growth potential. Situated on a 0.83-acre lot in a commercially zoned area, this single-tenant property offers a secure and lucrative investment opportunity in a thriving market. The property's location in Byron Center, Kent County, MI (zip code 49315) provides excellent accessibility and visibility. This is a rare chance to acquire a high-quality, newly constructed daycare center with a proven, successful tenant and a strong financial outlook.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Byron Center
- County
- Kent
- State
- Michigan
- Longitude
- -85.71776
- Latitude
- 42.84814
- CBSA code
- 24340
- CBSA name
- GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA
