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122 Balmy Ln
Mooresville, NC 28117
20-Yr Abs NNN - Tutor Time · Retail Property For Sale
Investment Highlights
- Current CAP Rate of 8.26% / The guarantor, Learning Care Group operates a total of about 900 learning and tutor locations Nationwide.
- Rent Expiration: Early (36) Month Lease Extension, Through August 31, 2027 / Population Growth Projected Over 7% in The Next 5 Years.
- Lease Guarantor: Corporate / Two (2), Five (5) Year Options to Extend / Great Visibility Off Charlotte Highway 21
- Original 20-Yr Abs NNN With 7 years remaining. Tenants have shown continued commitment to this location with recent early renewal.
- Built in rental increases, 2% Per Year / NNN (Zero Landlord Responsibilities) / AAA Location adjacent to Fire Department
- Attractive Offering Actual CAP Rate of 8.26% With a ProForma CAP Rate of 8.42% / Current GRM of 12.11. ProForma GRM of 11.87.
Property Facts
Property Type
Retail
Property Subtype
Day Care Center
Building Size
10,080 SF
Building Class
B
Year Built
2002
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
1.97 AC
Zoning
Highway Business
Parking
49 Spaces (4.82 Spaces per 1,000 SF Leased)
Frontage
221’ on Balmy Ln
Property Taxes
| Parcel Number | 4657-20-0117.000 | Improvements Assessment | $1,725,200 |
| Land Assessment | $555,540 | Total Assessment | $2,280,740 |
Property Taxes
Parcel Number
4657-20-0117.000
Land Assessment
$555,540
Improvements Assessment
$1,725,200
Total Assessment
$2,280,740
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