Fitness Connection

8428 Denton Highway, Watauga, TX 76148

$9,838,712

Cap Rate 8.00%

Views: 190 DOM: 282 Updated: 11.22.24 Posted: 03.14.24 Status: Active

Summary

Price $9,838,712	Built/Renov 1998/2018	Tenant Fitness Connection
Cap Rate 8.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 61,110	Lease Start 05-01-2019	#Units 43
Price/SF $161.00	Expiration 09-30-2034	Tenant Type Sport/Fitness
NOI $787,097	R. Term 9.9	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

Lease Highlights

Fitness Connection has 9+ years remaining on the current lease term with 3 (5-year) options to extend
The lease features 5.8% rental increase at the start of year 11 and 5% at the start of each option
Absolute NNN lease | 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

Connor Shell

STREAM Capital Partners

Contact

56 Listings
8204 Views
11 Sold

Jordan Shtulman

STREAM Capital Partners

Contact

76 Listings
9597 Views
33 Sold

Connor Shell

Connor Shell joined STREAM Capital Partners in 2017 as Managing Director expanding our footprint further into Southern California and bringing 8 years of expertise to this area with a long-standing development and investment history. While at STREAM Capital Partners, Connor has grown his transaction footprint, closing deals with major retail developers and private owners throughout the United States. He has developed and strengthened his relationships with private owners, family offices, inst

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Jordan Shtulman

Jordan Shtulman is Co-Founder and Managing Principal of STREAM Capital Partners. In 2012, Jordan Shtulman and his partner, Jonathan Wolfe, formed STREAM Capital Partners with the intent to advise institutions, real estate developers, REITs, private equity firms, and business owners on all phases of net leased and sale leaseback properties. Since forming the company, Jordan and Jonathan have led a team of trusted advisors across the country completing over $12 Billion in net leased and sale leas

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