1950 Berryhill Rd
Cordova, TN 38016
Bright Ideas Enrichment Center · Retail Property For Sale

Marcus & Millichap is pleased to offer the opportunity to acquire the fee simple interest for a childcare center in Cordova, Tennessee sitting on 4.23 acres with 7,500 SF of rentable space. The NNN lease was signed on August 2017. Rent is $16.36/SF with 1% increases each year and a five-year renewal option after 15 years and another five-year option after the first option. Bright Ideas Child Care is a 3-star facility established in the late 1990s. This Bright Ideas location is not your typical childcare or preschool as it is a preschool and childcare center that has extracurricular activity programs for children 6 weeks to 12 years of age; offering a before and after school care program through its 17 employees to its 160-190 children throughout the year. They are a well-respected early learning center designed to make the most of the early years when your child’s brain is developing more rapidly than at any other time in their lives. The NNN lease was signed on August 2017. Located 20 miles outside of the heart of Memphis, traffic in the area is extremely high. The roads immediately surrounding the property experience traffic of about 10,000 vehicles per day. With a large amount of traffic each day, the childcare center is optimally located within an area of about 110,000 people, of which the average age is 37 years old, within a five-mile radius. Within the five-mile radius, the median household income is over $73,000 and over $75,000,000 is currently spent on education and childcare which is expected to rise to over $82,000,000 by 2024 representing a 9.33% increase. The changing demographic each year shows the area getting younger as more affluent couple begin to the Memphis area.