Investment Property Long Term Essential Child Care Facility

Special Purpose for Sale
Catylist Listing ID: 30700006
Property Subtypes: School/University
Building Size (RSF): 7,281 SF
Gross Building Area: See Agent
Gross Land Area: 33,525 SF
Sale Price: $875,000
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 7.29%
Last Updated: 2/26/2021

Overview / Comments

*Please do not disturb tenant.

Truly an essential service provider. The tenant "Smiling Faces Academy" is a long-established local experienced operator of childrens day care centers. This provider receives the funding from the State of Florida so the rent is always paid on time and early. The original three year lease ran from Feb 2018 to Jan of 2021 and the tenants has accepted the extension of an additional 5 years.

Smiling Faces Academy Inc is a Child Care Facility with a capacity of +/-126 children. They participates in a subsidized child care program. They are a VPK Provider, offering after school, before school, food served, full day, infant care, open year-round and transportation.

Voluntary Prekindergarten or VPK gives children a jump start by preparing them for school and enhancing their pre-reading, pre-math, language and social skills. By developing the skills children need to become strong readers and students at an early age, children are more likely to be successful in school. VPK classrooms offer high-quality programs that include high literacy standards, developmentally appropriate curricula, manageable class sizes, and qualified teachers. It is a free prekindergarten program for 4 and 5-year-olds.

Per the lease agreement the landlord is only responsible for the roof, structure and parking lot. Tenant is responsible for interior repairs, HVAC and landscaping.

Sale includes a property across the street at 1001 19th Ave. West that can be used for additional parking if needed.

Property was previously used for Manatee County Safety Council for Driving School
Ceiling Heights about 9'5"
4 HVAC unit with one 3 ton, two 2 tons, and one 5 ton
Parking ratio is about 6/1000 sf
Metal Roof

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Tax ID/APN: 445731003, 4459100006
Zoning: C-3 FLU
Property Visibility: Good
Property Condition: Good
Year Built: 1988
Year Renovated: 2009
Construction/Siding: Metal Siding
Zoning Description: Commercial. Permitted uses include offices, school, automotive, gym/healthclub, professional services, healthcare, church, veterinarian, lab, etc...

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,565 107,608 198,460
Median Age: 38.37 40.75 43.6
Households: 7,887 44,188 83,453

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