5009 Caroline StHouston, TX 77004

Property Details for 5009 Caroline St

Year built

1965

Construction

WOOD FRAME

Lot size

0.78 AC

Property size (Sq ft)

17,575 SF

Property type

Medical offices

Property subtype

Medical centers

APN

332510020005

APU

332510020005

Description

This exceptional investment opportunity presents a 17,399 square foot daycare center in Houston, Texas, currently operating at 100% occupancy. The property, located at 5009 Caroline St, Houston, TX 77004, boasts a new 15-year Absolute NNN lease with The Learning Experience, a leading early education provider, commencing September 2024. The lease includes rare 3% annual rent increases and two 5-year options, ensuring a stable, long-term passive income stream with built-in inflation protection. The asking price is $9,743,424, representing a 6.25% cap rate and a price per square foot of $560. The property sits on a 0.78-acre lot and features a building constructed in 1965 and renovated in 2024. The strong NOI of $608,964 reflects the property's exceptional performance and market position. This prime infill location in Houston's Museum District benefits from high barriers to entry, limited inventory, and insatiable demand. Its proximity to the Medical Center, Rice University, and the upcoming Ion District further enhances its long-term value and potential for appreciation. This is a generational hold opportunity in a highly sought-after urban location. The tenant, The Learning Experience, is a recognized leader in the daycare industry with over 600 centers and significant revenue growth. This is a truly exceptional investment opportunity offering significant long-term returns and minimal landlord responsibilities.

• CAP approach

  CAP return

  Valuation

  6%

  $3,599,389

  6.5%

  $3,322,513

  7%

  $3,085,191

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,597,748

  Geo Method

  $5,261,779

• Alternative Use

  Use

  Valuation

  Residential

  $4,119,916

  Hospitality

  $3,773,821

  Educational

  $3,139,775

  Medical

  $3,247,756

  Retail

  $4,884,094

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7275

Longitude

-95.3838

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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