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Views: 62 DOM: 139 Updated: 09.07.24 Posted: 04.30.24 Status: Active 05.03.24

Summary

Price $4,518,000
Built/Renov 2015
Tenant Retro Fitness
Cap Rate 7.00%
Lease Type NN+
Guarantor Corporate
Size/SF 26,120
Lease Start 01-01-2024
#Units 200
Price/SF $172.97
Expiration 12-31-2034
Tenant Type Sport/Fitness
NOI $316,260
R. Term 10.3
Ownership Fee Simple
Rent/SF $12.11
Increases 11.0%/5/yrs
Pop 5Mi 351,031
Lot/AC 3.43
Options 1/10yrs/4%
AHHI 5Mi $92,058

Lease Highlights

  • Retro Fitness has 10+ years remaining on the current lease term with 1 (10-year) option to extend
  • The lease features an 11% rent increase in 2029 | 4% rent increase in option period
  • Favorable NN+ lease with landlord responsible for roof & structure
  • Corporate guaranteed lease

Location Description

Retro Fitness is strategically located on E Belt Line Road, with access to 29,933 vehicles passing by daily. The property also includes a tenant-approved .60-acre carveout along E Belt Line Rd, which is ideal for development. Additionally, it is situated adjacent to the Richardson Square power center, anchored by Super Target and Lowe's. The area is further enhanced by its proximity to...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Retro Fitness
  • Guarantor:Corporate
  • Company:Retro Fitness
  • # Units:200
  • Stock:Private

About Tenant

Retro Fitness is an operator and franchisor of high-value, low-price fitness centers. Their clubs offer members state-of-the-art equipment, group fitness classes, personal training, and Zen Den...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 12,735 151,580 373,117
2023 Total Population : 13,062 150,112 369,006
2023 Employed Civilian Pop : 7,274 80,295 195,047
2023 Total Businesses : 680 7,352 18,357
2023 Average Household Income : $ 121,537 $ 91,649 $ 102,303
2023 Total Consumer Spending : $ 478 M $ 4435 M $ 12535 M
2023 Median Age : 42 36 36
2023 Total Households : 4,643 55,814 141,571
2023 Pop Age 25+: Bachelor's Degree : 2,768 24,907 66,651
2023 Average Home Value : $ 294,034 $ 306,798 $ 353,920
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E Belt Line Rd N Plano Rd 2009 28,600 0.07 mi
N Plano Rd University Village Dr 2011 32,100 0.11 mi
S Plano Rd E Belt Line Rd 2009 38,230 0.16 mi
N Glenville Dr E Belt Line Rd 2009 4,830 0.21 mi
S Glenville Dr Horizon Trl 2009 2,700 0.23 mi
E Belt Line Rd Richardson Square Mall 2011 30,100 0.24 mi
E Belt Line Rd S Glenville Dr 2011 27,800 0.28 mi
N Glenville Dr Larkspur Dr 2009 4,190 0.31 mi
N St Johns Dr Syracuse Dr 2009 720 0.40 mi
Apollo Rd N Plano Rd 2009 4,510 0.50 mi

Listing Broker

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