Single Tenant Net Lease For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30584992
Property Subtypes: Free-Standing Building, Other
Building Size (RSF): 5,600 SF
Gross Building Area: See Agent
Sale Price: $1,120,000
Unit Price: $200 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Undisclosed, Cash to Seller, Other
Cap Rate: 7.0%
Last Updated: 8/27/2020

Overview / Comments

PROPERTY OVERVIEW
Drake Real Estate & Investments is pleased to offer Anytime Fitness located at the center of the retail corridor in Jacksonville, TX. This property is highly visible at the only lighted intersection adjacent to Jacksonville’s only Wal-Mart Supercenter. Other surrounding retailers include Hibbett Sports, Family Dollar, Walgreens, Chili’s, Verizon, AT&T, Wing Stop, Jersey Mike’s and more. The location along with the experienced operator offers investors a great opportunity in a growing market.

PROPERTY HIGHLIGHTS
• 100% leased; lease expires 12/31/25
• AADT 21,943
• Excellent visibility
• Easy access to Walmart Supercenter and other nearby national retailers

Current Tenants

Tenant Business Name Bandon Fitness (Texas) Inc.
Industry Type Other Services
Is Renting? Yes
SF of Space Occupied 5,600 SF
Lease Expiration 12/2025
Escalations See attached OM
Tenant Notes TENANT HIGHLIGHTS • 55 clubs in Texas, Oklahoma and Kansas • World's Fastest-Growing Gym (Anytime Fitness) THE LARGEST ANYTIME FITNESS FRANSHISEE BASED IN AUSTIN, TX With 55 clubs in Texas, Oklahoma, and Kansas, the Bandon Holdings network has expanded significantly through new development and a prove acquisition strategy, with growth driven by consumer demand for healthier lifestyles. Anytime Fitness, founded in 2002 and headquartered in Woodbury, Minnesota, is the fastest growing fitness club in the U.S. The company follows a medium-cost, high-convenience pricing model and provides a complete gym product offering, as well as convenient, 24-hour access for its members. Anytime's small box format with low build-out costs provides real estate flexibility for broad geographic reach. The brand serves its customer base with over 4,000 fitness centers in more than 30 countries and territories worldwide. Fireman Capital Partners is positions to add significant value to the company as it continues to expand its footprint in targeted areas. FCP will leverage its resources and relationships in the fitness industry in order to add value to the company. Our focus is calculated expansion and further growth in under-penetrated markets through scaling the business. Additionally, the FCP team will continue to pursue a focused acquisition strategy and integration plan, as well as implementing strategic operational enhancements and marketing initiatives.

Additional Details

Nearest MSA: Jacksonville
County: Cherokee
Tax ID/APN: 120543.000000000000000
Retail Clientele: General, Other
Property Visibility: Excellent
Largest Nearby Street: US Hwy 69 S
Tenancy: Single Tenant
Total Number of Buildings: 1
Typical SF / Floor: 5,600 SF
Property Condition: Good
Year Built: 2014
Parking Type: Surface
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,762 13,910 19,188
Median Age: 31.33 31.64 33.69
Households: 2,123 4,765 6,659

Contact

Photograph of Listing Agent

Matthew K Marshall

Drake Real Estate & Investments GTAR Commercial Member
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