SPRING EDUCATION GROUP PRIVATE PREP SCHOOL 7938-7944 Great Northern Blvd
35,005 SF Retail Building Austin, TX 78757 $15,950,000 ($455.65/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Relocation Site w/ Proven History and Concept Long Term Corporate Backed Lease Featuring Favorable 2% Annual Rental Increases.
- Densely Populated & Affluent Area: Average Household Income of 106k+ within a 3-Mile Radius and over 304k People Residing within a 5-Mile Radius.
- High Barrier to Entry Market - Demand for Early Education is Growing Rapidly as around 1.6 Million and 4 Million Students were Enrolled in Pre-K.
- w/ FMV Adjustment for Subsequent Options. Complete 2024 Exterior / Interior Renovation. Subject Property is a Pre-K and Elementary Facility.
- Strong Daytime Employment Area - Surrounded by Numerous Established Corporate HQ’s, Business Parks, Regional Office Spaces, Distribution Centers, etc.
- Spring Education Group is a Prominent Network of approximately 230 Private Schools, providing a Comprehensive Range of Educational services.
EXECUTIVE SUMMARY
Spring Education Group Private Prep School | Relocation Site - 2024 Complete Renovation | Pre-K and Elementary School | Immediate Access to TX Hwy Loop 1 | Large Lot Size | Strong Daytime Employment Area - Densely Populated & Affluent Location | Austin Currently Ranks as the Fastest Growing Metro out of the 50 Largest U.S. Metros | Epicenter of Activity
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
35,005 SF
Building Class
B
Year Built/Renovated
1976/2024
Price
$15,950,000
Price Per SF
$455.65
Cap Rate
7.50%
NOI
$1,196,121
Tenancy
Single
Building Height
1 Story
Building FAR
0.32
Lot Size
2.55 AC
Zoning
CS-1, Austin
Parking
215 Spaces
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Spring Education Group Private Prep School
- Retailer
- 35,005 SF
- -
- Double Net
- Jun 2034
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Spring Education Group Private Prep School | Retailer | 35,005 SF | - | Double Net | Jun 2034 |
Bike Score®
Very Bikeable (85)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 245669 | Improvements Assessment | $4,048,528 |
| Land Assessment | $2,225,000 | Total Assessment | $6,273,528 |
