Kiddie Academy Acquires School In Olathe For $5.8M Through Matthews Real Estate
1585 South Mahaffie Street
$5,800,000
$322/SF
Building Size
18,000 SF
Asset Type
School
Closing
Mar 6, 2024
About this deal
AI
The $5.8 million sale facilitated by Matthews Real Estate Investment Services involved a daycare center in Olathe, KS, located at 1585 South Mahaffie Street. The property spans 18,000 square feet and was purchased by Kiddie Academy. The sale price equated to $322 per square foot.
Summary of transaction details:
- Property Type: School
- Transaction Amount: $5,800,000
- Buyer: Kiddie Academy
- Brokers: Clay Smith & Matthew Gibbs - Matthews Real Estate Investment Services
Clay Smith and Matthew Gibbs of Matthews Real Estate Investment Services were the brokers who successfully closed the deal for the daycare center in Olathe, occupied by Kids r Kids. The transaction included both the business and the property.
Players
Olathe School Market Snapshot
Boundary boundary · School · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93