VASA Fitness

4106 South Western Avenue, Oklahoma City, OK 73109

$8,320,786

Cap Rate 7.21%

Views: 155 DOM: 171 Updated: 10.20.24 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 9.11	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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Key Features

Build to suit
Dense retail corridor
Near major nationals
Strategically located
Hospital close
Dense 200M+ pop 5 mi
Top 100 MSA
Long 10+ yr lease
Top performing store
Corporate Guarantee

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Links

VASA Fitness Wikipedia Oklahoma City, Oklahoma Zip Code 73109 Broker Site Page

Maps

Local Information

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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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	17,705	105,567	217,646
2024 Total Population :	17,659	104,644	214,684
2024 Employed Civilian Pop :	7,903	46,702	103,796
2024 Total Businesses :	500	3,884	12,596
2024 Average Household Income :	$ 53,531	$ 55,514	$ 69,276
2024 Total Consumer Spending :	$ 296 M	$ 1826 M	$ 5088 M
2024 Median Age :	33	32	33
2024 Total Households :	6,120	36,445	82,068
2024 Pop Age 25+: Bachelor's Degree :	760	3,836	17,155
2024 Average Home Value :	$ 172,911	$ 192,479	$ 217,553

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
South Western Avenue	SW 39th St	2021	18,600	0.10 mi
S Western Ave	SW 37th St	2015	17,980	0.20 mi
SW 44th St	S Western Ave	2018	18,276	0.23 mi
Southwest Grand Boulevard	S Olie Ave	2018	8,085	0.27 mi
SW Grand Blvd	S Olie Ave	2018	8,085	0.30 mi
Southwest 44th Street	S Shartel Ave	2021	16,100	0.30 mi
SW 36th St	S Shartel Ave	2003	12,923	0.33 mi
Southwest Grand Boulevard	S Shartel Ave	2021	5,900	0.34 mi
S Douglas Ave	SW 40th St	2014	2,601	0.35 mi
SW Grand Blvd	S Klein Ave	2019	11,644	0.36 mi

Listing Broker

Mark Thiel

Marcus & Millichap

Contact

22 Listings
2857 Views
8 Sold

Steve Greer

Marcus & Millichap

Contact

1 Listings
156 Views
0 Sold

Mark Thiel

Mark Thiel specializes in the acquisition and disposition of net-leased investments and retail shopping centers throughout the United States. Mark is the founder and creator of NNN Fitness, the market leader in the sale of big box health club properties nationwide. Throughout his career, Mark has closed more than $2 Billion in transaction volume and over five million square feet of retail investment properties across 40+ states. Mark serves as a Senior Director of both the National Retail Gr

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Steve Greer

Steve Greer joined Marcus & Millichap as Associate Regional Manager in March 2022. Based out of the firm’s Baton Rouge, Louisiana office, he primarily manages operations in Arkansas, Louisiana and Oklahoma. A Baton Rouge native and industry veteran, Steve brings expert knowledge of the area and the market to the firm. A sample of his previous roles includes lead agent with Berkshire Hathaway United Properties and senior advisor for SVN Commercial Real Estate. In addition, Greer owned

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