3200 Mckee RdCharlotte, NC 28270

Property Details for 3200 Mckee Rd

Year built

2005

Lot size

6.91 AC

Property size (Sq ft)

11,729 SF

Zone code

INST(CD)

Property type

Day care centers & nurseries

APN

22712201

APU

22712201

Description

This exceptional investment opportunity presents a 11,800 square foot daycare center in Charlotte, NC, situated on a 6.88-acre lot at 3200 McKee Road, zip code 28270. Built in 2005, the property boasts a 100% occupancy rate with a 13.7-year remaining lease term (expiring July 20, 2038, commencing July 21, 2023) featuring a strong, nationally-operating tenant. The lease is a single-tenant, absolute triple net (NNN) lease, ensuring minimal landlord responsibilities. The current annual rent is $28.56 per square foot, with favorable 2% annual rent escalations built into the lease. The property generates a substantial net operating income (NOI) of $337,008, resulting in a compelling 6.65% capitalization rate. The asking price is $5,067,789, translating to a price per square foot of $429.47. The tenant, a well-established daycare provider with over 46 locations nationwide and expansion plans, offers significant stability and growth potential. The property benefits from its location within a thriving Charlotte community, 25 minutes from Charlotte Douglas International Airport (CLT), and surrounded by nine elementary schools within a five-mile radius. The surrounding area boasts an average household income of $171,030 and a population of 66,415 within a three-mile radius, indicating strong demographic support for the business. Mecklenburg County's projected annual population growth of 19,000 residents until 2040 further underscores the long-term investment potential of this property. There are no lease options at the end of the current term.

• CAP approach

  CAP return

  Valuation

  6%

  $3,098,154

  6.5%

  $2,859,834

  7%

  $2,655,560

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,284,117

  Geo Method

  $2,284,117

• Alternative Use

  Use

  Valuation

  Residential

  $3,627,820

  Hospitality

  $3,323,064

  Educational

  $2,764,750

  Medical

  $2,859,834

  Retail

  $4,300,722

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.0779

Longitude

-80.7414

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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