6050 Park Square Dr Lorain, OH 44053
- Day care centers
- 7,490 SF
- 1.10 lot acres
Current Use by Public Records
- The Nest Schools / Preschool / Day Care Center
Property Details for 6050 Park Square Dr
- Year built
- 2007
- Lot size
- 1.10 lot acres
- Property size
- 7,490 SF
- Property type
- Day care centers
Description
Exceptional investment opportunity: a 7,490 square foot daycare center in Lorain, Ohio, operating under a corporate-guaranteed, absolute NNN lease with "The Nest Schools." The lease, commencing March 12, 2021, and expiring March 31, 2041, offers a substantial remaining term of 16.4 years, with built-in 2% annual rent increases. The property, built in 2007 and situated on 1.1 acres at 6050 Park Square Dr, Lorain, OH 44053, boasts 100% occupancy since its opening. The current asking price is $2,571,429, representing a compelling cap rate of 7.00% and a price per square foot of $343.31. The property benefits from a strong location near major retailers like Lowe's and Target, and serves a densely populated area with an average household income exceeding $112,000 within a one-mile radius. The Nest Schools, a rapidly expanding national chain with over 50 existing locations and plans for significant future growth, provides exceptional tenant stability. Two 10-year lease options further enhance the long-term value proposition. The property's strategic location near five elementary schools within a five-mile radius underscores its strong market position within the community. This fee-simple ownership (land and building) presents a rare opportunity for a secure, high-yield investment in the thriving childcare sector. The Net Operating Income (NOI) is $180,000.
Value Estimations
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Lorain
- County
- Lorain
- State
- Ohio
- Longitude
- -82.2374403
- Latitude
- 41.4159646
