Charter School NNN Portfolio
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Charter School NNN Portfolio
2 Office Properties Offered at $10,666,666 in Multiple Locations
Investment Highlights
- Schools have shown strong commitment to both locations, 14+ years.
- Revenue Source Provided by Long Term Government Contracts
- Absolute NNN Leases - Zero landlord responsibility
- Continuous year over year student enrollment growth for both schools.
- Strong Experienced Tenant - Operates 6+ schools in Florida.
Executive Summary
The portfolio consists of Andrews High Charter School and Main Street High Charter School. This deal includes single tenant Triple Net (NNN) leases with zero landlord responsibilities providing for a secure investment.
The current tenant, who occupies both schools, is North Star Academics Inc, with their school operations managed by Edison Learning Inc. They operate as a non profit and their revenue source is provided by long term government contracts. Edison learning operates 350+ schools around the world. The charter schools have received commendable ratings by the School Board of Broward and Osceola County. Which are the highest ratings a school can receive.
The tenant has shown a strong commitment to these locations. They have been operating at both the Andrews High and Main St High locations for 13 years. Both schools have shown year over year increases in student enrollment, which indicates a strong continued growth.
The current NOI of the portfolio is $820,000 annually, and is being offered at a 7.69% cap rate.
1) Andrews High Charter School is located at 3500 N. Andrews Ave, Pompano Beach. The property is leased on a NNN basis to NorthStar Academics Inc, with school operations managed by Edison Learning Inc. The tenant has been at this location since 2010 (14 years) showing a strong commitment to this location. The property features a 13,126 SF building situated on a 69,224 SF lot (1.59 acres). Offering ample parking (6/1000) and is conveniently located next to Pompano Beach’s Tri Rail train station. Making it an ideal location for future redevelopment. The property is zoned B-3 which provides allowed uses of Office, Retail, Self Storage, or Mixed use. Andrews High has shown year over year increases in total student enrollment. Raising from 350 students to 363 students over the past year.
NOI: $400,000
Building Size: 13,126 SF
Lot Size: 69,224 SF
Lease Expiration: July 31, 2028
Options: Three 5-year options
2) Main St High Charter School is located at 1100 N Main St, Kissimmee FL. The property is leased on a NNN basis to NorthStar Academics Inc, with school operations managed by Edison Learning Inc. The tenant has been at this location since 2009 (15 years) showing a strong commitment to this location.The property features a 16,782 SF building situated on a 73,355 SF lot (1.68 Acres). Main Street High has shown year over year increases in total student enrollment. Raising from 336 students to 350 students over the past year.
NOI: $420,000
Building Size: 16,782 SF
Lot Size: 73,355 SF
Lease Expiration: September 30, 2029
Options: Two 5-year options
The current tenant, who occupies both schools, is North Star Academics Inc, with their school operations managed by Edison Learning Inc. They operate as a non profit and their revenue source is provided by long term government contracts. Edison learning operates 350+ schools around the world. The charter schools have received commendable ratings by the School Board of Broward and Osceola County. Which are the highest ratings a school can receive.
The tenant has shown a strong commitment to these locations. They have been operating at both the Andrews High and Main St High locations for 13 years. Both schools have shown year over year increases in student enrollment, which indicates a strong continued growth.
The current NOI of the portfolio is $820,000 annually, and is being offered at a 7.69% cap rate.
1) Andrews High Charter School is located at 3500 N. Andrews Ave, Pompano Beach. The property is leased on a NNN basis to NorthStar Academics Inc, with school operations managed by Edison Learning Inc. The tenant has been at this location since 2010 (14 years) showing a strong commitment to this location. The property features a 13,126 SF building situated on a 69,224 SF lot (1.59 acres). Offering ample parking (6/1000) and is conveniently located next to Pompano Beach’s Tri Rail train station. Making it an ideal location for future redevelopment. The property is zoned B-3 which provides allowed uses of Office, Retail, Self Storage, or Mixed use. Andrews High has shown year over year increases in total student enrollment. Raising from 350 students to 363 students over the past year.
NOI: $400,000
Building Size: 13,126 SF
Lot Size: 69,224 SF
Lease Expiration: July 31, 2028
Options: Three 5-year options
2) Main St High Charter School is located at 1100 N Main St, Kissimmee FL. The property is leased on a NNN basis to NorthStar Academics Inc, with school operations managed by Edison Learning Inc. The tenant has been at this location since 2009 (15 years) showing a strong commitment to this location.The property features a 16,782 SF building situated on a 73,355 SF lot (1.68 Acres). Main Street High has shown year over year increases in total student enrollment. Raising from 336 students to 350 students over the past year.
NOI: $420,000
Building Size: 16,782 SF
Lot Size: 73,355 SF
Lease Expiration: September 30, 2029
Options: Two 5-year options
Property Facts
| Price | $10,666,666 | Number of Properties | 2 |
| Price / SF | $379.76 / SF | Individually For Sale | 0 |
| Cap Rate | 7.69% | Total Building Size | 28,088 SF |
| Sale Type | Investment NNN | Total Land Area | 3.32 AC |
| Status | Active |
| Price | $10,666,666 |
| Price / SF | $379.76 / SF |
| Cap Rate | 7.69% |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 28,088 SF |
| Total Land Area | 3.32 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1100 N Main St, Kissimmee, FL 34744 | Office | 15,000 SF | 1965 | - |
|
Andrews High School
3500 N ANDREWS Ave, Pompano Beach, FL 33064 |
Office | 13,088 SF | 1989 | - |
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