Strayer university · 2020. 12. 30. · Strayer enrolls about 60,000 students through its online programs and approximately 100 campuses in 24 U.S. states Strayer is accredited by

Strayer university

For more info on this opportunity please contact:

Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.

Single tenantbuilt-to-suit property1809 Dabbs Avenue, Nashville, TN 37210

JOE [email protected] | (415) 274-7394 CA BRE# 01191110

ZEB [email protected] | (415) 274-2702 CA BRE# 01242540

CHRIS [email protected] | (415) 274-2701 CA BRE# 01002010


In conjunction with TN Licensed Broker: Doug Stanfield, The Stanfield York Company (404) 255-8066 [email protected]

Representative Photo

Investment HighlightsSINGLE-TENANT STRAYER UNIVERSITY PROPERTY LOCATED JUST OFF I-40

IN NASHVILLE. STRAYER IS A FOR-PROFIT CONTINUING EDUCATION COMPANY THAT IS PUBLICLY TRADED (NASDAQ : STRA)

RENTABLE SF . . . . 20,000 SFLAND AREA . . . . . . 5.54 AcresLEASE TYPE . . . . . . NNPRICE PER SF . . . . $294.46BUILT . . . . . . . . . . . 2009

PRICE: $5,889,273CAP: 8.25%

INVESTMENT HIGHLIGHTS:

Build-to-suit for Strayer University in 2009

Strayer is located on access road with high visibility on I-40 (116,000 VPD), minutes from Nashville International Airport and is positioned between the airport and downtown Nashville, surrounded by dense residential and commercial properties

The building is highly fungible for any office use and features handsome, contemporary brick and glass construction

Forbes recently ranked Nashville as the #1 U.S. City for job growth (population of over 1 million)

TENANT HIGHLIGHTS:

Strayer enrolls about 60,000 students through its online programs and approximately 100 campuses in 24 U.S. states

Strayer is accredited by the middle states commission on higher education

As of December 31, 2013, Strayer Education, Inc. reported total revenues for the fiscal year of $503,600,000

LEASE HIGHLIGHTS:

2% annual rental increases through primary term. Two (2) five-year option periods at fair market value

Lease commenced May 1, 2009 and expires April 30, 2019 (approximately 5 years left on primary term)

NN Lease: landlord is responsible for roof & structure. Landlord is reimbursed for additional operating expenses, including administrative/management fees

Asset features income from 3 billboards on property, averaging $37,000 annually


STRAYER UNIVERSITY | 2

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the ac-curacy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Income & Expense

PRICE $5,889,273

Capitalization Rate: 8.25%

Price Per Square Foot $294.46

Total Rentable Area (SF): 20,000

Lot Size (Acres): 5.54

STABILIZED INCOME Per Square Foot

Scheduled Rent $22.52 $450,432

Billboard Income (approx)* $37,433

Effective Gross Income $487,865

LESS Per Square Foot

Taxes NNN $0.00

Insurance NNN $0.00

Structural Reserves $0.10 ($2,000.00)

EQUALS NET OPERATING INCOME $485,865

*Billboard income represents average over past 3 years. Billboard income features a base rent of $32,500 plus a percentage over a natural breakpoint.

Representative Photos


TENANT INFO LEASE TERMS

Tenant Name Sq. Ft. Term Monthly Rent

Yearly Rent

Monthly Rent/FT

Yearly Rent/FT

Strayer University 20,000 5/13/14 5/12/15 $37,536 $450,432 $1 .88 $22.52

5/13/15 5/12/16 $38,284 $459,408 $1 .91 $22.97

5/13/16 5/12/17 $39,049 $468,588 $1 .95 $23.43

5/13/17 5/12/18 $39,831 $477,972 $1 .99 $23.90

5/13/18 5/12/19 $40,630 $487,560 $2 .03 $24.38

Option 1 5/13/19 5/12/24 FMV FMV FMV FMV

Option 2 5/13/24 5/12/29 FMV FMV FMV FMV

Totals: 20,000 $37,536 $450,432 $37,536.00 $22.52

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Rent Roll




ABOUT STRAYER UNIVERSITYStrayer University is a United States-based private, for-profit higher education institution. The university enrolls students through its online learning programs and locations in 24 U.S. states. The university specializes in degree programs for working adults and offers undergraduate/graduate degrees. It was founded in 1892 as Strayer’s Business College and later became Strayer College, before being granted university status in 1998. Strayer University is accredited by the middle states commission on higher education.

2013 REVENUE $503M

NUMBER OF LOCATIONS 100

NUMBER OF STUDENTS 40,000+

STRAYER UNIVERSITY IS A PUBICLY TRADED

CORPORATION, WITH CORPORATE

HEADQUARTERS IN HERNDON, VIRGINIA

Strayer University

Representative Photos


Dabbs

Avenue

40

40

65

65

440

24

440

24

40

70

41

41

41

70

70S

41

155

155

24

155

Cameron Middle School

Johnson School

ONE HUNDRED OAKS MALL

Carter Lawrence

Elementary

Fall-Hamilton Elementary

NASHVILLE CITY CENTER

113,929 DAILY


Regional MapNashville,TN

Location

STRAYER UNIVERSITY



NASHVILLE, TN OVERVIEW

Nashville is the capital of Tennessee and the county seat of Davidson County. It is the principal city in the Nashville Metropolitan Statistical Area, which has a population of over 1.5 million people. Nashville is a center for the health care, publishing, banking and transportation industries, and is home to a large number of colleges and universities. It is known as a center of the music industry, earning it the nickname “Music City.” Nashville’s music industry is estimated to have a total economic impact of $6.4 billion per year and to contribute 19,000 jobs to the Nashville area.

Although Nashville is renowned as a music recording center and tourist destination, its largest industry is actually health care. Nashville is home to more than 250 health care companies, including Hospital Corporation of America, the largest private operator of hospitals in the world. The automotive industry is also becoming increasingly important for the entire Middle Tennessee region. Fortune 500 companies within Nashville include Dell, HCA Inc. and Dollar General Corporation

Nashville was ranked fifth on a top 10 list of most desirable cities to retire by U.S. News & World Report in 2009, and as the fifth most affordable city in America by Forbes in 2010.

Location & Demos

2013 HOUSEHOLD INCOMES

1-Mile 3-Mile 5-Mile

2010 8,481 44,885 159,0752013 8,564 45,505 163,2842018 8,953 47,720 172,669

1-Mile 3-Mile 5-Mile

Average $41,515 $45,784 $49,158Median $33,520 $35,056 $35,515

POPULATION

Employer # of Employees*Vanderbilt 23,021Nissan 8,500HCA Holdings, Inc 7,000St. Thomas Health 6,500*Approximate

TOP EMPLOYERS IN NASHVILLE


A unique HUMANRESULTS-DRIVEN client experience

THE CAPITAL PACIFIC EXPERIENCE - OUR DAILY COMMITMENT TO OUR CLIENTS

[ www .CapitalPacific .com ]

Copyright © 2014 [Capital Pacific Real Estate Brokerage Company]

JOE [email protected] | (415) 274-7394 CA BRE# 01191110

ZEB [email protected] | (415) 274-2702 CA BRE# 01242540



In conjunction with TN Licensed Broker: Doug Stanfield, The Stanfield York Company (404) 255-8066 [email protected]


Documents

Strayer university · 2020. 12. 30. · Strayer enrolls about 60,000 students through its online programs and approximately 100 campuses in 24 U.S. states Strayer is accredited by