N4 Montessori Academy of Melissa | 2045 McKinney St
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N4 Montessori Academy of Melissa 2045 McKinney St
11,113 SF Retail Building Melissa, TX 75454 $6,301,671 ($567/SF) 7% Cap Rate
Investment Highlights
- Across the street from a planned Walmart Supercenter connected to Legacy Ranch residential development.
- 2% Rent Increases Annually from Year (2028)
- 17.6% growth rate in Melissa; from 8,000 population in 2015 to 25,201 in 2023
- In 2022, Melissa, TX had a population of 15.2k people with a median age of 35.3 and a median household income of $138,465
Executive Summary
The 15-year lease commenced on October 16, 2023, allowing investors the opportunity to capitalize on nearly the entire lease term. Featuring attractive 2% rent increases from year six (6) and minimal landlord responsibilities, the property provides ownership with a long-term, passive investment with built-in inflation hedges.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Day Care Center
Building Size
11,113 SF
Year Built
2023
Price
$6,301,671
Price Per SF
$567
Cap Rate
7%
NOI
$441,117
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.50 AC
Parking
32 Spaces (2.88 Spaces per 1,000 SF Leased)
Frontage
185 FT on McKinney Street
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R-13086-00A-0010-1 | Improvements Assessment | $4,450,451 |
| Land Assessment | $718,740 | Total Assessment | $5,169,191 |
PROPERTY TAXES
Parcel Number
R-13086-00A-0010-1
Land Assessment
$718,740
Improvements Assessment
$4,450,451
Total Assessment
$5,169,191
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N4 Montessori Academy of Melissa | 2045 McKinney St
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