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Fitness Center

Planet Fitness

2950 E Main St, Farmington, NM 87402

Listing Price: $4,371,429

Cap Rate
7.00%
Tenant Name
Planet Fitness
Years Remaining On Lease
10.6
Gross SF
20,400
Guarantor
Franchisee Guarantee
Rentable SF
20,400
Price/Gross SF
$214.29
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$15.00

Investment Overview

Exclusively offered for sale is a single tenant NNN Planet Fitness in Farmington, NM. This new construction opportunity has a brand new 12- year lease with Exaltare Capital Partners, a Planet Fitness operator with over 100 units, and features attractive 10% increases every five years. Rent commenced in Q1 2020. The subject property is situated at the highest traffic intersection in town (over 37,400 CPD) and is a part of a 10-acre development which includes a new construction Starbucks, Verizon, urgent care and a soon-to-be redeveloped K-Mart.

Investment Highlights

  • New Construction Planet Fitness
  • New 12 Year Lease Term
  • Strong Franchisee Guarantee - Over 100 Unit Operator
  • 10% Rental Increases Every Five Year Period

Exclusively Listed By

Listing Price: $4,371,429

Cap Rate
7.00%
Tenant Name
Planet Fitness
Years Remaining On Lease
10.6
Gross SF
20,400
Guarantor
Franchisee Guarantee
Rentable SF
20,400
Price/Gross SF
$214.29
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$15.00

Investment Highlights

  • New Construction Planet Fitness
  • New 12 Year Lease Term
  • Strong Franchisee Guarantee - Over 100 Unit Operator
  • 10% Rental Increases Every Five Year Period

Investment Overview

Exclusively offered for sale is a single tenant NNN Planet Fitness in Farmington, NM. This new construction opportunity has a brand new 12- year lease with Exaltare Capital Partners, a Planet Fitness operator with over 100 units, and features attractive 10% increases every five years. Rent commenced in Q1 2020. The subject property is situated at the highest traffic intersection in town (over 37,400 CPD) and is a part of a 10-acre development which includes a new construction Starbucks, Verizon, urgent care and a soon-to-be redeveloped K-Mart.

Exclusively Listed By

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