6050 Park Square DrLorain, OH 44053

For Sale
$2,571,429

7,490 SF Daycare, 7% Cap Rate, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
92
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.

Highlights

  • 7,490 SF daycare center in Lorain, OH, under a corporate-guaranteed, absolute NNN lease with The Nest Schools.
  • 16.4 years remaining on the lease (expiring March 31, 2041), with 2% annual rent increases.
  • Strong tenant: The Nest Schools, a rapidly expanding national chain with 50+ locations and plans for significant future growth, backed by Rockbridge Growth Equity.
  • Excellent location near major retailers (Lowe's, Target) in a densely populated area with average household income exceeding $112,000 within one mile.
  • $2,571,429 asking price, representing a 7.00% cap rate and $343.31/SF.

Property Details for 6050 Park Square Dr

Property type
Day care centers & nurseries, Other retail properties
Square Feet
7,490 SF
Year Built
2007
Buildings
1
Lot Size (sq. ft)
47,916 SF

Location Insight

City
Lorain
County
Lorain
State
Ohio
Latitude
41.4159646
Longitude
-82.2374403
6050 Park Square Dr, Lorain, Ohio

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6050 Park Square Dr
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