4926 Greenwood DrCorpus Christi, TX 78416

Property Details for 4926 Greenwood Dr

Year built

1983

Lot size

0.58 AC

Property size (Sq ft)

7,883 SF

Property type

Day care centers & nurseries

Property subtype

Retail properties

Description

This exceptional investment opportunity presents a 7,883 square foot daycare center in Corpus Christi, Texas, currently operating under a 15.1-year triple-net (NNN) lease with Kid City USA, a national operator with over 127 locations and more than 20 years of experience. The lease, commencing June 2, 2023, and expiring June 30, 2038, offers a remaining term of 13.6 years, providing significant long-term stability. The property boasts a 7.50% cap rate and a strong net operating income (NOI) of $181,000. The asking price is $2,413,333, translating to a price per square foot of $306.14. Rent increases are built into the lease, with a 10% bump every five years. The tenant provides both corporate and personal guarantees, mitigating risk. The 0.58-acre lot is strategically located at 4926 Greenwood Dr, Corpus Christi, TX 78416, across Highway 358 from a major shopping center including Walmart, AMC Theatres, Texas Roadhouse, and Homewood Suites. The property benefits from excellent visibility and proximity to over ten elementary schools within a three-mile radius, ensuring a consistent flow of potential clients. Additional nearby retailers include HEB, Home Depot, and Sam's Club. The property is also conveniently located seven miles from Corpus Christi International Airport and 51 miles from Corpus Christi Medical Center, including Driscoll Children's Hospital. Built in 1983, this daycare center represents a secure and profitable investment with significant long-term potential. The lease includes four five-year renewal options. The property is currently 100% occupied.

Location Insight

City

Corpus Christi

County

Nueces

State

Texas

Latitude

27.7443

Longitude

-97.4404

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