Chapter Aesthetic Studio

908 Eglin Street, Rapid City, SD 57701

$2,832,000

Cap Rate 6.25%

Views: 54 DOM: 54 Updated: 08.08.24 Posted: 07.15.24 Status: Active

Summary

Price $2,832,000	Built/Renov 2023	Tenant Chapter Aesthetic Studio
Cap Rate 6.25%	Lease Type NN+	Guarantor Corporate
Size/SF 3,540	Lease Start 11-02-2023	#Units 22
Price/SF $800.00	Expiration 11-30-2033	Tenant Type Medical/Health
NOI $177,000	R. Term 9.2	Ownership Fee Simple
Rent/SF $50.00	Increases 10.0%/4/yrs	Pop 5Mi 77,324
Lot/AC 0.85	Options 2/5yrs/10%	AHHI 5Mi $71,001

Kevin Fryman

Hanley Investment Group

Contact

Lease Highlights

New 2023 construction
Chapter Aesthetic Studio has 9+ years remaining on the current lease term with 2 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease

Location Description

Chapter Aesthetic Studio is strategically located on Eglin Street, with access to 11,180 vehicles passing by daily. The property is a pad to the only super regional power center located within a 350-mile radius. The center ranks in the top 9% of the most trafficked centers in the U.S. per Placer.ai and is the #1 most trafficked center in South Dakota, as well as the #1 most trafficked Sam’s...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Strategically located
Freeway visibility
Income tax free state
Brand new lease
Favorable NN+ lease
Corporate Guarantee

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Links

Chapter Aesthetic Studio Wikipedia Rapid City, South Dakota Zip Code 57701 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chapter Aesthetic Studio
Guarantor:Corporate
Company:The Aspen Group (TAG)
# Units:22
Stock:Private

About Tenant

Chapter Aesthetic Studio (Chapter) is one of the leading medical aesthetic studios in the country. The retail storefronts offer a comprehensive range of skincare and wellness services,...

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Listing Broker

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