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Views: 129 DOM: 105 Updated: 09.07.24 Posted: 06.03.24 Status: Active

Summary

Price $8,320,786
Built/Renov 2019
Tenant VASA Fitness
Cap Rate 7.21%
Lease Type Double NN
Guarantor Corporate
Size/SF 50,326
Lease Start 10-05-2019
#Units 53
Price/SF $165.34
Expiration 11-04-2034
Tenant Type Sport/Fitness
NOI $599,534
R. Term 10.1
Ownership Fee Simple
Rent/SF $11.91
Increases 9.0%/5/yrs
Pop 5Mi 217,458
Lot/AC 6.49
Options 3/5yrs/9%
AHHI 5Mi $61,179

Lease Highlights

  • VASA Fitness has 10+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 9% rental escalations throughout the initial term and option periods
  • Minimal landlord responsibilities 
  • Corporate guaranteed lease

Location Description

VASA Fitness is strategically located on South Western Avenue, with access to 17,300 vehicles passing by daily. The property is adjacent to the major medical campus, VASA Integris Southwest Medical Center. Additionally, the #1 Walmart Neighborhood Market in Oklahoma City is located south of the property, according to Placer.ai. This store is the 48th most-visited store in the Walmart...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: VASA Fitness
  • Guarantor:Corporate
  • Company:VASA Fitness
  • # Units:53
  • Stock:Private

About Tenant

VASA Fitness is an operator of fitness clubs throughout the United States, and the largest operator of health clubs in the Utah market. Their fitness centers offer top-of-the-line equipment,...


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Listing Broker

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