$6,500,000
$6,500,000
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1.1 Acres Lot
SOLD DATE : 05/24/2021
Key Details
Sold Price $6,500,000
Property Type Commercial
Sub Type Special Purpose
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC20235212
Sold Date 05/24/21
HOA Y/N No
Year Built 2018
Lot Size 1.100 Acres
Property Description
Sale-leaseback. Current owner is a Montessori preschool operator and looking to leaseback on a long term lease. Operator owns 4 Montessori preschools in Orange County and has been operating Montessori preschools since 2009. Recent appraisal was $6.6 million and owner will prepay rent for the entire 2021. This class A property was new construction completed in 2018 and is the only child care provider in the new community of Rancho Mission Viejo. Property is priced at a 6% cap rate to move fast. This is an absolute NNN lease where tenant will take care of everything and buyer will have zero responsibility for the property. Child Care is an essential business and will continue to grow. Enrollment numbers are ~80% of pre-COVID and are growing each month.
Location
State CA
County Orange
Area Esen - Esencia
Interior
Fireplace No
Laundry Stacked
Building
Lot Description Lot Over 40000 Sqft
Story 2
Water Public
Others
Tax ID 75541118
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with General NONMEMBER • NONMEMBER MRML