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Everbrook Academy 15200 Meredith Dr 11,617 SF Retail Building Urbandale, IA 50323 $6,888,890 ($593.00/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Everbrook Academy signed a 20 year, NN lease with 7.5% increases every 5 years.
- Excellent demographics with a 3-mile average household income of $174,123 and population of 122,984 within a 5-mile radius.
- Nearby tenants include Hy-Vee Fast & Fresh, Starbucks, Jimmy John’s, Smokey Row Coffee, Kiddie Academy, New Horizons, and more.
- The tenant on the lease is Everbrook Academy with guaranty provided by Learning Care Group which operates approximately 1,150 locations.
- Everbrook Academy is located along Meredith Drive with traffic counts of 4,830 VPD and near I-35 where traffic counts average 107,000+ VPD.
- Urbandale is ranked the #9 Best Suburb to Live in Iowa and #10 Best Place to Raise a Family in Iowa, according to Niche.
EXECUTIVE SUMMARY
Net, Net Lease. The site is self maintained by the Tenant. Tenant responsible for maintenance or repairs to the Roof Membrane and HVAC. Landlord responsible for repairs and replacement of the structural components of roof (but not membrane), the structure of the Building, and exterior walls.
Roof has 20 year warranty.
Everbrook Academy offers a stable, long-term investment opportunity in Urbandale, Iowa, one of the state’s top-ranked suburbs for families. The property is leased to Everbrook Academy under a 20-year NN lease with 7.5% rent increases every five years, backed by Learning Care Group, a national operator with over 1,150 locations. Positioned along Meredith Drive near I-35, the site benefits from strong traffic counts and proximity to major retailers and schools. With excellent demographics and a 2025 construction, this asset combines new construction, institutional tenancy, and predictable cash flow in a high-growth market.
Roof has 20 year warranty.
Everbrook Academy offers a stable, long-term investment opportunity in Urbandale, Iowa, one of the state’s top-ranked suburbs for families. The property is leased to Everbrook Academy under a 20-year NN lease with 7.5% rent increases every five years, backed by Learning Care Group, a national operator with over 1,150 locations. Positioned along Meredith Drive near I-35, the site benefits from strong traffic counts and proximity to major retailers and schools. With excellent demographics and a 2025 construction, this asset combines new construction, institutional tenancy, and predictable cash flow in a high-growth market.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Day Care Center
Building Size
11,617 SF
Year Built
2025
Price
$6,888,890
Price Per SF
$593.00
Cap Rate
6.75%
NOI
$465,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
2.16 AC
PROPERTY TAXES
| Parcel Number | 12-24-100-015 | Improvements Assessment | $0 |
| Land Assessment | $21,100 | Total Assessment | $21,100 |
PROPERTY TAXES
Parcel Number
12-24-100-015
Land Assessment
$21,100
Improvements Assessment
$0
Total Assessment
$21,100
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Everbrook Academy | 15200 Meredith Dr
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