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Fitness Center

20yr Absolute NNN Sale-Leaseback | Reno NV | Mesa Rim Climbing & Fitness | Freestanding Prototype

970 Harvard Way, Reno, NV 89502

Listing Price: $7,150,000

Cap Rate
6.35%
Tenant Name
Mesa Rim
Years Remaining On Lease
20.0
Gross SF
24,113
Guarantor
Corporate Guarantee
Rentable SF
24,113
Price/Gross SF
$296.52
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.83

Investment Overview

Marcus & Millichap is pleased to present this rare opportunity to purchase a 20-year NNN sale-leaseback with Mesa Rim Climbing & Fitness located in Reno, Nevada. The offering is a freestanding 24,113-square foot state-of-the-art facility sitting on 2.01 acres offering an abundant amount of parking. This strategic location is in a busy retail corridor that experiences more than 165,403 vehicles per day on surrounding roads including Interstate 580, and it is also within close proximity to the Reno-Tahoe International Airport. The employees of the airport as well as the almost 11,000 travelers that come through the airport on a daily basis increase the amount of traffic to the gym. The area is also home to numerous national retailers including Costco, REI, CVS, Smart & Final, Dollar Tree, Walgreens, Ashley Homestore, AutoZone, McDonalds, Jack in the Box, and Outback Steakhouse, among others. With a population of over 235,000, Reno, Nevada is the largest city in Northern Nevada. It is located in the southern part of Washoe County, nestled on the eastern slope of the Sierra Nevada Mountains in an area called the Truckee Meadows. Reno has been nicknamed “The Biggest Little City in the World” and it’s true. Reno’s economy is principally based in the trade and service sector, with approximately 65% of the work force employed in these occupations. Nevada has no corporate or personal income tax and is a right-to-work state. These factors have contributed to the State’s tremendous growth in the 1990’s and into the 2000’s. In 2005, Inc. magazine named Reno No. 1 on its list of the “Best Places to Do Business in America,” based on job growth figures among 274 metropolitan areas.

Investment Highlights

  • Long-Term, NNN Lease
  • 250% Revenue Growth: 2017-2018
  • Corporate & Income Tax-Free State
  • Structured Rent Increases - 10% Every Five Years

Exclusively Listed By

Broker of Record

  • Justin Forman

    Regional Manager

    (702) 215-7150

    License(s) NV: B.1002463.CORP

    Nevada

Fitness Center

20yr Absolute NNN Sale-Leaseback | Reno NV | Mesa Rim Climbing & Fitness | Freestanding Prototype

Listing Price: $7,150,000

Cap Rate
6.35%
Tenant Name
Mesa Rim
Years Remaining On Lease
20.0
Gross SF
24,113
Guarantor
Corporate Guarantee
Rentable SF
24,113
Price/Gross SF
$296.52
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.83

Investment Highlights

  • Long-Term, NNN Lease
  • 250% Revenue Growth: 2017-2018
  • Corporate & Income Tax-Free State
  • Structured Rent Increases - 10% Every Five Years

Investment Overview

Marcus & Millichap is pleased to present this rare opportunity to purchase a 20-year NNN sale-leaseback with Mesa Rim Climbing & Fitness located in Reno, Nevada. The offering is a freestanding 24,113-square foot state-of-the-art facility sitting on 2.01 acres offering an abundant amount of parking. This strategic location is in a busy retail corridor that experiences more than 165,403 vehicles per day on surrounding roads including Interstate 580, and it is also within close proximity to the Reno-Tahoe International Airport. The employees of the airport as well as the almost 11,000 travelers that come through the airport on a daily basis increase the amount of traffic to the gym. The area is also home to numerous national retailers including Costco, REI, CVS, Smart & Final, Dollar Tree, Walgreens, Ashley Homestore, AutoZone, McDonalds, Jack in the Box, and Outback Steakhouse, among others. With a population of over 235,000, Reno, Nevada is the largest city in Northern Nevada. It is located in the southern part of Washoe County, nestled on the eastern slope of the Sierra Nevada Mountains in an area called the Truckee Meadows. Reno has been nicknamed “The Biggest Little City in the World” and it’s true. Reno’s economy is principally based in the trade and service sector, with approximately 65% of the work force employed in these occupations. Nevada has no corporate or personal income tax and is a right-to-work state. These factors have contributed to the State’s tremendous growth in the 1990’s and into the 2000’s. In 2005, Inc. magazine named Reno No. 1 on its list of the “Best Places to Do Business in America,” based on job growth figures among 274 metropolitan areas.

Exclusively Listed By

Broker of Record

  • Justin Forman

    Regional Manager

    (702) 215-7150

    License(s): NV: B.1002463.CORP

    Nevada

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