Cap Rate: 7.50%
Size: 5,440 SF
Lot Size: 1.59 Acres
Marcus & Millichap is pleased to offer for sale this 5,440-square foot Motivation Education & Training, Inc. (MET) Early Head Start located at 746 Blake Road in Conroe, Texas. The building was constructed in 2010 on 1.59 acres of land. MET has a 10-year history at this site and recently extended their lease for an additional five years demonstrating their ongoing commitment to this location.
The property is located on Blake Road, just minutes off Highway 105 West. Traffic counts are over 28,000 VPD at the intersection of Blake Road & Highway 105 West, which has direct access to US Interstate 45. The population density surrounding MET is impressive, with more than 54,711 people residing within a five mile radius of the Property. The population is projected to grow to 63,313 in 2025, a 21.2 percent increase. Per CoStar, there are 4,831 multifamily units within a five mile radius of MET Early Head Start, and an additional 266 units under construction.
The population growth has led to a demand for schooling and child care, which has kept MET’s enrollment consistently high. Within a five mile radius of MET, the population by age for children from zero to nine years old is currently 6,983 and projected to grow to 7,920 by 2025, a 13.4 percent increase. There is $15,047,085 spent annually for childcare within a five mile radius of MET. The US child care services industry includes about 54,000 commercial facilities with a combined annual revenue of $27 billion, plus about 21,000 facilities run by nonprofit organizations with combined annual revenue of about $14 billion.
Motivation Education & Training, Inc. (MET) is a private non-profit corporation that began serving rural areas of southeast Texas in 1967. The agency is community oriented and supports an agenda of action that leads to self-sufficiency, personal responsibility, and commitment to furthering individual social and economic progress through education, training and other appropriate activities. MET operates statewide in Texas, Louisiana, Minnesota, North Dakota, and Wyoming, providing a range of human services that primarily focus on career development and educational achievement. They currently operate eight Early Head Start locations in Texas.
- Recent 5-Year Lease Renewal with 5% Rent Increase | 10-year history at this location
- 5,440 Rentable SF at $14.59/SF | 1.59 Acre Parcel | 7.50% Cap Rate
- Median household income of $79,838 within a 5-mile radius | Lease Backed by Private Nonprofit 501(c)(3) Corporation
- Minutes off High Traffic Highway 105 W | 28,000+ VPD