This exceptional investment opportunity presents a 114,419 square foot, fee-simple charter school campus in Corpus Christi, Texas. The property, built in 2018-2019, consists of a high school (50,547 sq ft) and an elementary school (63,872 sq ft), both operating under the Riverwalk Education Foundation (S&P rated "BBB"). The School of Science and Technology (SST) enjoys a 25-year net lease (commencing August 17, 2018, expiring August 17, 2043), with 18.8 years remaining. The lease includes annual rent bumps and two 5-year options. The tenant, SST, is credit-rated and backed by a corporate guarantee, further enhancing the investment's security. The property boasts a 5.49% cap rate, a $1,645,842 NOI, and a $30,000,000 asking price ($262.19/sq ft). The campus sits on a 7.5-acre lot and features a 2019 Duro-Last roof with a transferable warranty, 7 1/4 inch concrete tilt wall construction, and annual solar panel reimbursements. Both schools have consistently exceeded 100% enrollment since opening, with over 400 students currently on the waitlist. Located in a thriving South Texas neighborhood with a population exceeding 200,000 within a 5-mile radius, this property offers a compelling combination of strong financial performance, secure tenancy, and long-term growth potential. The charter school is guaranteed by the Permanent School Fund Bond Guarantee Program (AAA-rated). The seller is offering competitive financing options.
Highlights
Over 19 years remaining on the primary lease term.
School of Science and Technology (SST) was a 2020 U.S. News & World Report Gold Winner for Best National High School.
Texas is an income tax-free state.
SST is a property tax-exempt school.
Riverwalk Education Foundation, Inc. has an S&P "BBB" rating.
Charter school guaranteed by the AAA-rated Permanent School Fund Bond Guarantee Program.
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Contacts
Simon Jonna
Erik Sharkey
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6609 Evans Rd, Corpus Christi, Texas, 78413
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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6609 Evans Rd
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