Harbor View Learning Ctr | 3245 Executive Dr
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Harbor View Learning Ctr 3245 Executive Dr
6,300 SF Retail Building Clearwater, FL 33762 $3,850,000 ($611/SF) 6.42% Cap Rate
Executive Summary
Current Real Estate Advisors is pleased to present the opportunity to acquire Harbor View Creative Learning Center (the “Property”), a ±6,300 SF freestanding building located on a 26,763 SF (0.61 Acre) parcel in Clearwater, FL. The site is leased to an early childhood academic operator – Once Upon a Childcare – on an Absolute NNN Lease with 9+ years remaining. The Lease calls for annual increases of 3% as well as 2, 5-Year options.
The property was constructed as a build-to-suit to serve as a childcare facility. It was then extensively renovated in 2022, when Once Upon a Childcare took the space, to specifically serve the needs of the operator as they continue their expansion throughout Florida.
Located across the street from Raymond James’ Global HQ, the Property is strategically located within a dense residential and professional community in the Tampa-St. Petersburg-Clearwater MSA – one of the fastest growing MSAs in the country. Its centralized location is ideal for an early childhood care operation. The MSA is ranked #5 for Best Place for Young Families in Florida. Further, Clearwater has experienced an average of 11.3% population growth over the past 5 years.
Harbor View Creative Learning Center is a perfect fit for an investor looking for a steady, stable income stream with no Landlord responsibilities and solid underlying real estate fundamentals.
Desirable Location Dynamics - Located right off I-275, blocks from the St. Pete- Clearwater International Airport, at the intersection of Ulmerton Road (58,000+ VPD) and Roosevelt Blvd N (51,500+ VPD), providing seamless connection to downtown Clearwater, Tampa and St. Petersburg
True Passive Income - Long-term Absolute NNN Lease (No Landlord Responsibilities) with a proven operator, who is based in the immediate area and operates this as their flagship location
Established Submarket - Immediately surrounded by a thriving residential community, professional office hub for major corporations, and a prospering retail corridor with national and regional businesses
Strong Operational Metrics - This location is in high demand, operating at full enrollment with a waitlist for entry, providing proof of concept and strong demand within the area
The property was constructed as a build-to-suit to serve as a childcare facility. It was then extensively renovated in 2022, when Once Upon a Childcare took the space, to specifically serve the needs of the operator as they continue their expansion throughout Florida.
Located across the street from Raymond James’ Global HQ, the Property is strategically located within a dense residential and professional community in the Tampa-St. Petersburg-Clearwater MSA – one of the fastest growing MSAs in the country. Its centralized location is ideal for an early childhood care operation. The MSA is ranked #5 for Best Place for Young Families in Florida. Further, Clearwater has experienced an average of 11.3% population growth over the past 5 years.
Harbor View Creative Learning Center is a perfect fit for an investor looking for a steady, stable income stream with no Landlord responsibilities and solid underlying real estate fundamentals.
Desirable Location Dynamics - Located right off I-275, blocks from the St. Pete- Clearwater International Airport, at the intersection of Ulmerton Road (58,000+ VPD) and Roosevelt Blvd N (51,500+ VPD), providing seamless connection to downtown Clearwater, Tampa and St. Petersburg
True Passive Income - Long-term Absolute NNN Lease (No Landlord Responsibilities) with a proven operator, who is based in the immediate area and operates this as their flagship location
Established Submarket - Immediately surrounded by a thriving residential community, professional office hub for major corporations, and a prospering retail corridor with national and regional businesses
Strong Operational Metrics - This location is in high demand, operating at full enrollment with a waitlist for entry, providing proof of concept and strong demand within the area
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,300 SF
Building Class
B
Year Built/Renovated
1988/2022
Price
$3,850,000
Price Per SF
$611
Cap Rate
6.42%
NOI
$247,296
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
0.61 AC
Zoning
CCS-1 - Commercial Corridor
Parking
18 Spaces (2.86 Spaces per 1,000 SF Leased)
Frontage
93 FT on Executive Dr
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 02-30-16-00000-330-0200 | Improvements Assessment | $346,206 |
| Land Assessment | $158,794 | Total Assessment | $505,000 |
PROPERTY TAXES
Parcel Number
02-30-16-00000-330-0200
Land Assessment
$158,794
Improvements Assessment
$346,206
Total Assessment
$505,000
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Harbor View Learning Ctr | 3245 Executive Dr
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