SOLD: NNN Leased Daycare Property | Phoenix AZ

Sales Price: $385,000
Cap Rate: 10.3%
Building Size: 1,960 SF
Property Type: Retail
Total Lot Size: 0.2 Acres
Year Built: 1950 / Renovated 2017

Highlights

NNN Lease
Tenant Responsible for all Property Maintenance
Property Renovated in 2017
Daycare Location for over 50 Years
Established East Phoenix Location
Close Proximity to SR-51 Freeway

Description

2946 East Cheery Lynn Road is a 1,960 square foot freestanding building, fully occupied by Little Explorer's Learning Center. The tenant currently has two other Phoenix locations. Their current lease runs through the middle of 2022. The property was completely renovated in the beginning of 2017, including additional plumbing, updated electrical, renovated restrooms, and new carpet, tile and interior paint. This property has been occupied by a daycare center for over 50 years.

Location

The property is located within a residential neighborhood in East Phoenix, off of 30th Street between Osborn and Thomas Road. The SR-51 Freeway is located less than one mile to the east of the property. Also less than one mile away is the Phoenix Children's Hospital.

 

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