2220 64Th StByron Center, MI 49315

Property Details for 2220 64Th St

Lot size

0.85 AC

Property type

Commercial land

APN

41-21-03-302-009

APU

412103302009

Description

Exceptional investment opportunity in Byron Center, Michigan, presents a brand-new, 10,000-square-foot Class A daycare center. This property boasts a 15-year initial lease term with two 5-year options to extend, ensuring long-term stability and predictable cash flow. The tenant, The Learning Experience, is America's #1 fastest-growing childcare franchise, with over 600 centers open or under development. This NNN (Net Lease) structure shifts most operating expenses to the tenant, minimizing landlord responsibilities. The property features a 7.00% cap rate and a strong net operating income (NOI) of $350,000. The asking price is $5,000,000, translating to a price per square foot of $500. Construction is estimated to be complete in December 2023, with occupancy commencing April 30, 2024. The lease includes 8% rental increases every 5 years, providing built-in growth potential. Situated on a 0.83-acre lot in a commercially zoned area, this single-tenant property offers a secure and lucrative investment opportunity in a thriving market. The property's location in Byron Center, Kent County, MI (zip code 49315) provides excellent accessibility and visibility. This is a rare chance to acquire a high-quality, newly constructed daycare center with a proven, successful tenant and a strong financial outlook.

• Alternative Use

  Use

  Valuation

  Residential

  $22,534,046

  Hospitality

  $20,641,066

  Educational

  $17,173,124

  Medical

  $17,763,734

  Retail

  $26,713,748

Location Insight

City

Byron Center

County

Kent

State

Michigan

CBSA code

24340

CBSA name

GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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