Fitness Connection

8428 Denton Highway, Watauga, TX 76148

$10,156,000

Cap Rate 7.75%

Views: 93 DOM: 178 Updated: 08.14.24 Posted: 03.14.24 Status: Active

Summary

Price $10,156,000	Built/Renov 1998/2018	Tenant Fitness Connection
Cap Rate 7.75%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 61,110	Lease Start 05-01-2019	#Units 43
Price/SF $166.19	Expiration 09-30-2034	Tenant Type Sport/Fitness
NOI $787,097	R. Term 10.0	Ownership Fee Simple
Rent/SF $12.88	Increases 5.8%/6/yrs	Pop 5Mi 96,955
Lot/AC 6.62	Options 3/5yrs/5%	AHHI 5Mi $133,434

Connor Shell

STREAM Capital Partners

Contact

Lease Highlights

Fitness Connection has 10+ years remaining on the current lease term with 3 (5-year) options to extend
The lease features 5.8% rental escalation at the start of year 11 and 5% at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Fitness Connection is strategically located at the signalized, hard corner intersection of Denton Highway and N Tarrant Pkwy, with access to a substantial combined daily traffic count of 63,000 vehicles. Furthermore, H-E-B owns the entire land parcel adjacent to the property with plans to build a grocery store in the future. Additionally, the property's prime location is enhanced by its...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Income tax free state
Absolute NNN
Long 10+ yr lease
Corporate Guarantee

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Links

Fitness Connection Wikipedia Watauga, Texas Zip Code 76148 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Fitness Connection
Guarantor:Corporate
Company:LNK Partners
# Units:43
Stock:Private

About Tenant

Fitness Connection is a chain of health and fitness clubs and one of the 25 largest health club companies in the United States. Their affordable membership-based clubs offer state-of-the-art...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	14,998	134,789	324,504
2023 Total Population :	15,329	136,459	320,982
2023 Employed Civilian Pop :	8,637	73,208	171,468
2023 Total Businesses :	443	3,124	8,492
2023 Average Household Income :	$ 119,052	$ 126,109	$ 125,522
2023 Total Consumer Spending :	$ 523 M	$ 4943 M	$ 12297 M
2023 Median Age :	35	36	36
2023 Total Households :	5,154	46,013	114,231
2023 Pop Age 25+: Bachelor's Degree :	2,942	27,216	65,513
2023 Average Home Value :	$ 320,232	$ 321,378	$ 344,825

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N Tarrant Pkwy	Whitley Rd	2012	22,013	0.11 mi
Denton Hwy	New Bursey Rd	2012	39,303	0.14 mi
S Main St	Denton Hwy	2012	37,040	0.17 mi
N Tarrant Pkwy	Quarter Horse Ln	2004	8,640	0.19 mi
Bursy Rd	Indian Springs Rd	2009	10,000	0.23 mi
N Tarrant Pkwy	Quail Valley Dr	2012	34,222	0.24 mi
Quail Valley Dr	Haven Lake Way	2009	2,268	0.46 mi
N Park Dr	Denton Hwy	2009	3,860	0.48 mi
Willis Ln	Ridgegate Dr	2009	3,140	0.55 mi
Ridge Lake Dr	Quail Valley Dr	2010	1,080	0.56 mi

Listing Broker

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