5516 Plano Pkwy Plano, TX 75093-4836

Property Details for 5516 Plano Pkwy

Year built

1996

Lot size

2.95 lot acres

Property size

20,098 SF

Zone code

O-M

Property type

Commercial real estate

APN

R-3266-001-0110-1

APU

R326600101101

Description

This exceptional investment opportunity presents a 20,417-square-foot KinderCare learning center situated on a 2.95-acre corner lot at 5516 West Plano Parkway, Plano, TX 75093. The property, built in 1998, boasts a strong 8.75% cap rate and a substantial net operating income (NOI) of $548,196. Currently 100% occupied under a single-tenant, absolute triple-net (NNN) lease with KinderCare, the lease features built-in rent increases tied to the Consumer Price Index (CPI) every five years, ensuring consistent income growth. The lease commenced April 2, 2004, and has a remaining term of approximately 1.4 years, followed by four 5-year renewal options, extending the lease through May 1, 2046. The asking price is $6,265,097, translating to a price per square foot of $306.86. The lease is further secured by a corporate guarantee, mitigating risk. This strategically located center benefits from a high-income demographic, with over 454,625 residents within a 5-mile radius and an average household income exceeding $135,075 within a 1-mile radius. The property's prime location is surrounded by major suburban neighborhoods and significant employers, ensuring consistent demand for childcare services. The investment is further bolstered by the robust growth projections for the childcare industry, expected to increase at an annual rate of 5.0% over the next five years.

Location Insight

City

Plano

County

Collin

State

Texas

Longitude

-96.812

Latitude

33.0154

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments