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Baker St, Costa Mesa, CA, 9...

Frontiers Academy Leases School On Baker St In Costa Mesa, CA
LEASEDSchool

Frontiers Academy Leases School On Baker St In Costa Mesa, CA

Baker St, Costa Mesa, CA, 92626

Building Size

15,000 SF

Asset Type

School

Closing

Nov 22, 2023

AI

This property asset is a 15,000-square-foot school building located at 102 Baker St, Costa Mesa, CA, within the Costa Mesa market. The facility includes multiple classrooms, private offices, a lunch hall, a kitchen, and a 250-seat auditorium. It is strategically located adjacent to the CA 55 Freeway and is minutes from the I-405 and CA 73 Freeways.

Summary of transaction details:

  • Property Type: School
  • Transaction Amount: Not disclosed
  • Address: 102 Baker St, Costa Mesa, CA, 92626
  • Tenant: Frontiers Academy
  • Landlord: Unknown
  • Tenant's Representative: Michael (Mike) Adams - NAI Capital
  • Landlord's Representative: Troy Wooton - Newmark
  • Square Feet: 15,000

Frontiers Academy, an independent private school teaching trilingual fluency in Mandarin, Spanish, and English, is relocating from Anaheim and plans to open the new facility in fall 2021. Stream Realty Partners’ Mike Adams has been working with Frontiers Academy since 2018. The new location aims to help the academy expand its opportunities for students in the region, particularly attracting students from Irvine, Newport Beach, Tustin, and South Orange County.

Players

Michael Adams

NAI Global

Broker

$43M

vol

7 deals

Broker

Costa Mesa School Market Snapshot

Boundary boundary · School · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93