The Learning Experience | 5009 Caroline St
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The Learning Experience 5009 Caroline St
17,399 SF Retail Building Houston, TX 77004 $9,743,424 ($560/SF) 6.25% Cap Rate
Investment Highlights
- The brand new 15-year Absolute NNN lease will commence in September 2024, allowing investors the opportunity to capitalize on the entire lease term.
- Located in the Museum District, which attracts over 8.7M visitors annually, and is long-considered one of the most sought-after districts in Houston.
- Located 3 minutes from the Property, the Ion District will become Houston’s mixed-use destination, comprising 12 blocks upon completion.
- Featuring rare 3% annual rent increases, (2) 5-year options, and zero LL responsibilities, the Property provides a long-term, passive investment.
- Irreplaceable Urban Infill Location | High Barriers to Entry | Tucked Away in the Middle of Everything
- The Learning Experience is a recognized leader in the daycare and early education industry with 600+ centers and 22% revenue growth over last 5 years.
Executive Summary
Trophy, Infill Location in Houston, TX | New 15-yr Absolute NNN Lease | Generational Hold in Coveted Museum District
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Day Care Center
Building Size
17,399 SF
Building Class
B
Year Built/Renovated
1965/2025
Price
$9,743,424
Price Per SF
$560
Cap Rate
6.25%
NOI
$608,964
Tenancy
Single
Building Height
2 Stories
Building FAR
0.51
Lot Size
0.78 AC
Parking
48 Spaces (2.76 Spaces per 1,000 SF Leased)
Frontage
149 FT on Caroline Street
Walk Score ®
Very Walkable (73)
Bike Score ®
Very Bikeable (80)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0332510020005 | Improvements Assessment | $155,768 |
| Land Assessment | $2,724,000 | Total Assessment | $2,879,768 |
PROPERTY TAXES
Parcel Number
0332510020005
Land Assessment
$2,724,000
Improvements Assessment
$155,768
Total Assessment
$2,879,768
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The Learning Experience | 5009 Caroline St
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