2358 Gunn Hwy Odessa, FL 33556

Property Details for 2358 Gunn Hwy

Year built

2023

Property size

10,005 SF

Property type

Day care centers

Description

This exceptional investment opportunity presents a 10,005-square-foot, newly constructed (2023) daycare center in Odessa, Florida, a rapidly growing submarket within the Tampa Bay MSA. The property boasts a strong 6.5% cap rate and a long-term, net lease with The Learning Experience, a national franchise with over 600 locations. The current lease, commencing February 11, 2024, and expiring February 27, 2041, includes a substantial remaining term of 16.3 years, with two five-year renewal options. Annual rent increases of 12% are built into the lease structure, ensuring consistent income growth. The tenant, backed by a corporate guarantee, is responsible for all common area maintenance (CAM), taxes, and insurance (NN+ lease). Located at 2358 Gunn Highway, this property benefits from high visibility on a major thoroughfare with an average annual daily traffic (AADT) of 18,500. The surrounding area shows significant residential growth, with over 18 developments totaling 28,768 homes within a five-mile radius. The property's prime location is further enhanced by its proximity to a newly constructed Lowe's and a fully occupied neighboring retail center. A strong demographic profile, with a population of 28,318 and an average household income of $160,503 within a three-mile radius, supports the property's long-term viability. This presents a low-management, high-return investment opportunity in a state with no state income tax. The asking price is $5,690,000, translating to a price per square foot of $568.72. The current Net Operating Income (NOI) is $370,000. This property is 100% occupied.