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Fitness Center

Elements Health Club Portfolio | 20-Year Absolute NNN Lease

4242 Commerce St, Eugene, OR 97402

Listing Price: $10,435,000

Cap Rate
7.04%
Tenant Name
Elements Health Club
Years Remaining On Lease
19.5
Guarantor
Corporate Guarantee
Rentable SF
68,460
Lease Type
Absolute Net
Rent Per Square Feet
$10.73

Investment Overview

Marcus & Millichap’s Brown Retail Group has been selected to exclusively market for sale a rare Elements Health Club Portfolio located in the robust Eugene-Springfield, OR trade area. The Tenant recently signed a brand new 20-year NNN lease extension providing an investor with long-term passive cash flow with an average cap rate of 8.41% over the firm term. The Lease encompasses two properties, in Eugene and Springfield, OR, providing the Tenant with access to two separate membership bases. Both properties are within strong retail areas anchored by The Shoppes at Gateway in Springfield and tenants such as Target and Walmart in Eugene. The Eugene-Springfield MSA currently boasts a 1.5% retail vacancy rate and 2.4% annual rent growth, making it one of the strongest retail markets in the state of Oregon, with an incredibly high-barrier to entry. Both buildings feature excellent visibility, with abundant parking and easy access. Within a 5-mile radius of both properties, the population has grown between 11-13% in the last decade and is projected to grow another 4.50% in the next 5 years.

Investment Highlights

  • Brand New 20-Year Absolute NNN Lease Extension
  • 2% Annual Rent Increases
  • High-Yield Investment with Average Cap Rate of 8.41% Over the Firm Term
  • One Lease, Two Properties
  • High Barrier to Entry Market with 1.5% Vacancy Rate
  • Strong Fitness Segment Growth
  • Strategic Location / Minimal Gym Competition
  • Strong Historical Occupancy & Brand-New Lease Extension

Exclusively Listed By

Broker of Record

  • David Tabata

    Regional Manager

    (503) 200-2000

    License(s) OR: 201224889

    Oregon

Fitness Center

Elements Health Club Portfolio | 20-Year Absolute NNN Lease

Listing Price: $10,435,000

Cap Rate
7.04%
Tenant Name
Elements Health Club
Years Remaining On Lease
19.5
Guarantor
Corporate Guarantee
Rentable SF
68,460
Lease Type
Absolute Net
Rent Per Square Feet
$10.73

Investment Highlights

  • Brand New 20-Year Absolute NNN Lease Extension
  • 2% Annual Rent Increases
  • High-Yield Investment with Average Cap Rate of 8.41% Over the Firm Term
  • One Lease, Two Properties
  • High Barrier to Entry Market with 1.5% Vacancy Rate
  • Strong Fitness Segment Growth
  • Strategic Location / Minimal Gym Competition
  • Strong Historical Occupancy & Brand-New Lease Extension

Investment Overview

Marcus & Millichap’s Brown Retail Group has been selected to exclusively market for sale a rare Elements Health Club Portfolio located in the robust Eugene-Springfield, OR trade area. The Tenant recently signed a brand new 20-year NNN lease extension providing an investor with long-term passive cash flow with an average cap rate of 8.41% over the firm term. The Lease encompasses two properties, in Eugene and Springfield, OR, providing the Tenant with access to two separate membership bases. Both properties are within strong retail areas anchored by The Shoppes at Gateway in Springfield and tenants such as Target and Walmart in Eugene. The Eugene-Springfield MSA currently boasts a 1.5% retail vacancy rate and 2.4% annual rent growth, making it one of the strongest retail markets in the state of Oregon, with an incredibly high-barrier to entry. Both buildings feature excellent visibility, with abundant parking and easy access. Within a 5-mile radius of both properties, the population has grown between 11-13% in the last decade and is projected to grow another 4.50% in the next 5 years.

Exclusively Listed By

Broker of Record

  • David Tabata

    Regional Manager

    (503) 200-2000

    License(s): OR: 201224889

    Oregon

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