Planet Fitness

2747 East 5th Street, Tyler, TX 75701

$3,156,000

Cap Rate 6.50%

Views: 93 DOM: 129 Updated: 10.20.24 Posted: 07.15.24 Status: Contract 10.18.24

Summary

Price $3,156,000	Built/Renov 1990	Tenant Planet Fitness
Cap Rate 6.50%	Lease Type NN+	Guarantor Franchisee
Size/SF 22,800	Lease Start 05-01-2024	#Units 150
Price/SF $138.42	Expiration 04-30-2031	Tenant Type Sport/Fitness
NOI $205,200	R. Term 6.5	Ownership Fee Simple
Rent/SF $9.00	Increases 10.0%/6/yrs	Pop 5Mi 105,209
Lot/AC 3.70	Options 2/5yrs/10%	AHHI 5Mi $70,115

Mark Thiel

Marcus & Millichap

Contact

Lease Highlights

Planet Fitness has 6+ years remaining on the current lease term with 2 (5-year) options to extend
The lease features 10% rental escalations at the start of each option period
Favorable NN+ lease with landlord responsible for roof and structure
Lease guaranteed by Excel Fitness (150 units backed)

Location Description

Planet Fitness is strategically located near the intersection of S SE Loop 323 and Fifth St., with access to 39,914 vehicles passing by daily. The property is less than one mile away from Tyler Junior College (12,000+ students) and UT Tyler main campus (10,000+ students). The immediate area boasts well-known national tenants including Subway, CVS Pharmacy, Popeyes, Pizza Hut, Taco Bell, and...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Strategically located
Major MSA
Income tax free state
Recently extended lease
Favorable NN+ lease
100+ unit franchisee backed

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Links

Planet Fitness Wikipedia Planet Fitness Wikipedia Tyler, Texas Zip Code 75701 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Planet Fitness
Guarantor:Franchisee
Company:Excel Fitness
# Units:150
Stock: NYSE: PLNT

About Tenant

Planet Fitness was founded in Dover, NH in 1992. Planet Fitness has become one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S. by number of members and...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	8,291	52,288	107,455
2024 Total Population :	8,282	51,208	105,186
2024 Employed Civilian Pop :	4,359	25,384	50,021
2024 Total Businesses :	289	3,565	6,277
2024 Average Household Income :	$ 72,477	$ 83,823	$ 82,771
2024 Total Consumer Spending :	$ 219 M	$ 1477 M	$ 3033 M
2024 Median Age :	31	34	35
2024 Total Households :	3,394	19,794	41,202
2024 Pop Age 25+: Bachelor's Degree :	705	6,833	13,613
2024 Average Home Value :	$ 248,831	$ 272,738	$ 256,488

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
East Fifth Street	Pine Crest Dr	2022	12,621	0.07 mi
South Southeast Loop 323	Valley View St	2022	27,868	0.15 mi
South Southeast Loop 323	E 5th St	2022	27,946	0.17 mi
E 5th St	S Southeast Loop 323	2016	19,871	0.19 mi
East Fifth Street	S Southeast Loop 323	2022	14,852	0.19 mi
Old Omen Road	Meadow Brook Trl	2022	6,529	0.20 mi
Pine Crest Drive	Tanglewood Dr	2022	736	0.28 mi
Wayside Dr	Lingner Dr	2013	65	0.45 mi
East Fifth Street	Gish Ln	2022	7,646	0.47 mi
Old Henderson Hwy	Keenan Dr	2014	6,490	0.49 mi

Listing Broker

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