KinderCare | Portfolio | Absolute Net-Corp Guar
14080 Northdale Boulevard, Rogers, MN 55374
Marcus & Millichap is pleased to present a single-tenant, absolute-net leased KinderCare Learning Center located in Rogers, Minnesota.
The subject property is 9,500 square feet, was built in 2007 and is located less than 200 feet west of State Route 101. The surrounding area is highly conducive to childcare centers and includes elementary schools, parks, dance/karate centers and abundant residential housing. There is extensive national retail in close proximity including Kohls, Walgreens, Dollar Tree, UPS, GNC, Anytime Fitness and several prominent QSR brands.
The city of Rogers encompasses eight square miles in Hennepin County, Minnesota and is a northwest suburb of the Minneapolis-Saint Paul MSA. Interstate 94 goes directly through Rogers from the southeast through the northwest. Between the 2000 and 2010 census, the population of Rogers grew by nearly 140 percent, an annualized growth rate in excess of nine percent. Rogers enjoys strong median household income in excess of $96,000.
The lease terms are very favorable to the landlord with zero landlord responsibilities and CPI every five years not to exceed seven percent. There are currently seven years remaining on the lease with four, five-year options.
Down Payment $3,100,000 (100%)
Net Operating Income $211,526
Gross Square Feet 9,500
Rentable Square Feet 9,500
Price/Square Foot $326
CAP Rate 6.82%
Parcel Size 1.17 Acres
Year Built 2007
Sold Price: $2,975,000
Sold CAP Rate: 7.11%