 | Listing The Goddard School | 3% Annual Increases | NN Lease Price:$2,083,150 Status:New is pleased to present for sale a Goddard School located at 35 Magothy Beach Road in Pasadena, Maryland. The property was developed back in 1997 and has been a successful operation for Goddard ever since. The building consists of 7,715 square feet with a parcel size of 1.03 acres. The lease contains rare 3% annual increases and is a double-net lease structure with the landlord only being responsible for roof and structure. The property is listed for sale at $2,083,150 or a 8% capitalization rate. The business at this location was recently purchased by a local operator looking to continue the success that this location has provided. The new operator signed an amendment which extends the lease until 2/31/2020. In return for the extension the landlord put $100,000 of improvements into the exterior of the building. The surrounding area offers the demographics that fit with the criteria of making a Goddard School successful. The average household income in the 3-mile ring is $107,000 and is $111,000 in the 5-mile ring. In addition to having good discretionary income levels, the population is dense with over 57,000 in the 3-mile ring and 119,000 in the 5-mile ring. These demographics provide both the density and income levels to meet the criteria for a successful Goddard School. The Goddard School offers year-round programs for children from six weeks to six years old including after-school enrichment and summer programs. The company has ranked #1 by Entrepreneur Magazine for ten consecutive years and was recently ranked within the top 100 for franchise opportunities. The lease is backed by a personal guarantee of |
The Goddard School | 3% Annual Increases | NN Lease
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