Fitness Center
Planet Fitness | 2024 Renovations | 11+ Years Remaining | Dense Retail Corridor Location
2340 E State St, Salem, OH 44460
Listing Price: $1,250,000
Cap Rate
7.60%
Tenant Name
Planet Fitness
Years Remaining On Lease
11.0
Guarantor
Local or Regional Franchisee
Rentable SF
19,002
Lease Type
Double Net
Rent Per Square Feet
$5.00
Investment Overview
We're pleased to present the offering for Planet Fitness in Salem, OH.
Planet Fitness | 2024 Renovations | 11+ Years Remaining | Dense Retail Corridor Location
Investment Highlights
- 19,002-SF Planet Fitness Location on a Large +/-3.82 Acre Parcel | Outparcel to Tractor Supply Anchored Center | Over 11 Years Remaining on a New Double Net Lease | Minimal Landlord Responsibilities
- 20% Rental Increase on 11/1/2030 | Two, 6-Year Renewal Options | Complete 2024 Renovations to Suit Planet Fitness | New Roof in 2015 With a 20-year Transferable Warranty
- 60-Unit Franchisee Guaranteed Lease | Strong Retail Corridor Location In a Tractor Supply Co Anchored Shopping Center
- Situated Along East State Street, The Main Retail Thoroughfare in Salem, Seeing 14,747 Vehicles Per Day | High Visibility With a Lighted Pylon Sign For Salem Plaza at a Signalized Intersection
- Features Three Points of Ingress and Egress and a Large, Fully Lit Parking Lot | Located Approximately 1.5 Miles from Kent State University at Salem Campus With Over 1,000 Students and Salem High School With Over 650 Students
- Located in a Dense Retail Hub Near Multiple National Tenants Including Walmart Supercenter, Starbucks, Giant Eagle, ALDI, Chipotle, Home Depot, Holiday Inn, Dunkin, McDonald's, Wendy's, Walgreens, Take 5 and More
- Salem is the Largest City in Columbiana County, OH | Salem is 18 Miles From Youngstown and 60 Miles from Cleveland | Population of 68,300+ Within 10 Miles | Low Housing Costs and Above US Average Household Incomes
- Planet Fitness is One of the Largest Fitness Club Franchises by Members and Locations in the US, With Over 2,700 Locations in 48 States and 19 Million Active Memberships | Their Mission is Focused on Providing a High-Quality Fitness Experience in a Welcoming Environment | Entrepreneur Named Planet Fitness #28 in Their Annual Franchise 500 List in 2023
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Executive Managing Director / Chief Revenue Officer
Financing By
Fitness Center
Planet Fitness | 2024 Renovations | 11+ Years Remaining | Dense Retail Corridor Location
Listing Price: $1,250,000
Cap Rate
7.60%
Tenant Name
Planet Fitness
Years Remaining On Lease
11.0
Guarantor
Local or Regional Franchisee
Rentable SF
19,002
Lease Type
Double Net
Rent Per Square Feet
$5.00
Investment Highlights
- 19,002-SF Planet Fitness Location on a Large +/-3.82 Acre Parcel | Outparcel to Tractor Supply Anchored Center | Over 11 Years Remaining on a New Double Net Lease | Minimal Landlord Responsibilities
- 20% Rental Increase on 11/1/2030 | Two, 6-Year Renewal Options | Complete 2024 Renovations to Suit Planet Fitness | New Roof in 2015 With a 20-year Transferable Warranty
- 60-Unit Franchisee Guaranteed Lease | Strong Retail Corridor Location In a Tractor Supply Co Anchored Shopping Center
- Situated Along East State Street, The Main Retail Thoroughfare in Salem, Seeing 14,747 Vehicles Per Day | High Visibility With a Lighted Pylon Sign For Salem Plaza at a Signalized Intersection
- Features Three Points of Ingress and Egress and a Large, Fully Lit Parking Lot | Located Approximately 1.5 Miles from Kent State University at Salem Campus With Over 1,000 Students and Salem High School With Over 650 Students
- Located in a Dense Retail Hub Near Multiple National Tenants Including Walmart Supercenter, Starbucks, Giant Eagle, ALDI, Chipotle, Home Depot, Holiday Inn, Dunkin, McDonald's, Wendy's, Walgreens, Take 5 and More
- Salem is the Largest City in Columbiana County, OH | Salem is 18 Miles From Youngstown and 60 Miles from Cleveland | Population of 68,300+ Within 10 Miles | Low Housing Costs and Above US Average Household Incomes
- Planet Fitness is One of the Largest Fitness Club Franchises by Members and Locations in the US, With Over 2,700 Locations in 48 States and 19 Million Active Memberships | Their Mission is Focused on Providing a High-Quality Fitness Experience in a Welcoming Environment | Entrepreneur Named Planet Fitness #28 in Their Annual Franchise 500 List in 2023
Investment Overview
We're pleased to present the offering for Planet Fitness in Salem, OH.
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Executive Managing Director / Chief Revenue Officer
Financing By
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