Net Lease Industry

Lowest
Cap Rate

5.00%

Lowest cap rate over past 24 months

Average
Cap Rate

6.35%

12 mo avg with 5+ yr lease term


Overview
The Learning Experience (TLE) locations are typically structured as absolute NNN leases, often built-to-suit in affluent suburban areas near schools, residential neighborhoods, and family-focused retail centers.

Leases are typically guaranteed by the franchisee, although some locations are developed and held by TLE Corporate or affiliated entities with stronger balance sheets.

Average Property & Lease
Average Sale Price $2,900,000 - $5,000,000
Average NOI $180,000 - $320,000
Building SF 8,000
Lease Term 15 Years
Escalations 10% Every 5 Years
Stock Symbol N/A
CREDIT RATING
S&P

N/A

Moody's

N/A

TENANT DESCRIPTION

The Learning Experience is one of the fastest-growing childcare and early education providers in the U.S., offering infant care, preschool, Pre-K, and after-school enrichment programs. The company uses a franchise model and has built a brand known for both educational innovation and modern real estate design.

PROS
  • Corporate Backing: Leases guaranteed by Driven Brands, a diversified auto company

  • Absolute NNN Leases: No landlord obligations

  • Rapid Growth Model: Acquiring and rebranding regional wash brands under the Take 5 name

  • Subscription Revenue: Unlimited wash programs boost recurring income

  • Strong Real Estate: High-visibility sites with stacking and traffic counts

CONS
  • Specialty Use Facility: Difficult to repurpose outside the car wash industry

  • No Formal Credit Rating: Despite being public, no S&P or Moody’s rating on the lease entity

  • Environmental Restrictions: Subject to zoning, water reclamation, and filtration requirements

  • Newer Brand: Less history than legacy players like Mister or regional operators

COMPANY QUICK STATS
Founded 1980
Headquarters Deerfield Beach FL
Number of Locations 320
Revenue $500 M
Company Website https://www.thelearningexperience.com
Key Principal Richard Weissman