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6609 Evans Rd - School of Science & Technology (S&P BBB)

114,419 SF Specialty Building Offered at $30,000,000 at a 5.49% Cap Rate in Corpus Christi, TX 78413

Investment Highlights

  • 19+ Years Remaining In Primary Lease Term | SST was the 2020 Gold Winner for Best National High School by US News
  • Riverwalk Education Foundation Inc. has S&P “BBB” Rating | Charter Guaranteed by Permanent School Fund | Bond Guarantee Program (“AAA” Rated)
  • NEWER Construction - Built in 2018/2019 | 7-1/4 Inch Concrete Tilt Wall Construction
  • Texas is an Income Tax-Free State | SST is a Property Tax-Exempt School
  • Annual Solar Panel Reimbursements | Both Schools Have Been Above 100% Enrollment Since Opening with 400+ on Waitlist
  • Seller Financing Available

Executive Summary

Jonna Group of Colliers International is pleased to present the opportunity to acquire this fee-simple charter school campus in Corpus Christi, Texas.? The School of Science and Technology (SST) are public charter schools accredited and audited by the Texas Education Agency.? This school and charter has won national awards for it’s success.? SST operates under the Riverwalk Education Foundation (S&P rated “BBB”), a nonprofit corporation in San Antonio, Texas and was established exclusively for educational, scientific and literary purposes with the primary objective of establishing science, technology, engineering and math focused public charter schools.? The School of Science and Technology is guaranteed by the Permanent School Fund (PSF) Bond Guarantee Program (BGP).? The Bond Guarantee Program (BGP) allows for bonds that are properly issued by a school district or a charter school to be fully guaranteed by the corpus of the PSF with the approval of the commissioner of education.? The guarantee has received “AAA” ratings from the major bond rating services and replaces the need for private bond insurance.?
The offering includes the School of Science and Technology High School Campus (8th-12th grade) built in 2018 comprising 50,547 SF and the School of Science and Technology Elementary School Campus (pre-K-7th grade) built in 2019 comprising 63,872 SF.? This offering is for sale by the original developer of the campus.?

Data Room Click Here to Access

Property Facts

Price $30,000,000
Price Per SF $262
Sale Type Investment
Cap Rate 5.49%
Sale Conditions Build to Suit
Property Type Specialty
Property Subtype Schools
Lot Size 2.00 AC
Building Size 114,419 SF
No. Stories 2
Year Built/Renovated 2018/2019
Parking Ratio 0.44/1,000 SF

Amenities

  • Signage
  • Air Conditioning

zoning

Zoning Code Commercial (Commercial Zoned District)
Commercial (Commercial Zoned District)
  • Listing ID: 25294945

  • Date on Market: 3/21/2022

  • Last Updated:

  • Address: 6609 Evans Rd, Corpus Christi, TX 78413

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