STNL Planet Fitness | 10+ Year Term | Farmington NM

Retail-Commercial for Sale
Catylist Listing ID: 30757645
Property Subtypes: Free-Standing Building
Building Size (RSF): 20,400 SF
Gross Building Area: See Agent
Gross Land Area: 0.88 Acres
Sale Price: $4,371,429
Unit Price: $214.29 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 9/9/2021

Overview / Comments

Exclusively offered for sale is a single tenant NNN Planet Fitness in Farmington, NM. The subject property has a lease with 10+ years remaining with Exaltare Capital Partners, a Planet Fitness operator with over 100 units, and features attractive 10% increases every five years. Rent commenced in Q1 2020. The property is situated at the highest traffic intersection in town (over 37,400 CPD) and is a part of a 10-acre development which includes a Starbucks, Verizon and AFC Urgent Care.

Planet Fitness is the fastest growing fitness operator in the United States, providing its members low prices and unbeatable value in a relaxed "Judgment Free" atmosphere that allows all people, at all fitness levels, the opportunity to pursue an active and healthy lifestyle. Planet Fitness has over 2,000 locations and is publicly traded (NYSE:PLNT).

Additional Details

Nearest MSA: Farmington
County: San Juan
Tax ID/APN: R4003949

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,038 38,783 48,790
Median Age: 29.03 33.62 34.02
Households: 2,905 13,988 17,522

Contact

Photograph of Listing Agent

Matthew Reeves

Marcus & Millichap CARNM CIE Member
Photograph of Listing Agent

Michael W Reneau

Marcus & Millichap CARNM CIE Member
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