6050 Park Square Dr Lorain, OH 44053
Property Lookup
Property profile & analytics
6050 Park Square Dr Lorain, OH 44053
- Day care centers
- 7,490 SF
- 1.10 lot acres
Property ID
US66-1765728
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- The Nest Schools / High School / Daycare 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
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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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
