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Fitness Center

Gold's Gym & Dollar General

1840 E Main St, Montrose, CO 81401

Listing Price: $5,729,000

Cap Rate
7.25%
Tenant Name
Gold's Gym & Dollar General
Guarantor
Corporate Guarantee
Rentable SF
42,094
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$9.87

Investment Overview

This Amazon resistant two tenant passive investment opportunity offers a purchaser two nationally recognized household name tenancies. The Gold’s Gym is a 8-unit operator offering a new 10 year NNN lease with 10% rent bumps including option periods to commence upon close of escrow. All CAMs pass thru to the Tenant making this acquisition a true sleep-at-night opportunity. The corporate guaranteed Dollar General extended their lease in 2019, showing their commitment for being at this location having occupied the site since 2006. The location was completely renovated in 2013, and the Gold’s Gym expanded their presence by taking over the remaining adjacent vacant space in 2017 due to the locations popularity.

Investment Highlights

  • 100% Occupied (Gold's Gym has sublet a portion of the unit to Smart Start Daycare)
  • NNN Leases – All CAM's Pass Through to Tenants
  • Recent Loan Quote Shows an 8.96% ROI After Debt Service
  • Gold's Gym has Occupied the site for 12 Years and Will Execute a New 10 Year NNN Lease Upon COE
  • Dollar General is an Investment Grade Tenant with a Corporate Guaranty
  • Site was Remodeled in 2013 and Traffic Count exceeds 17,000 Vehicles Passing by Daily
  • Strong Growth Area – Local Population increased by over 33% since 2000

Exclusively Listed By

Broker of Record

  • Adam Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s) CO: ER100091205

    Colorado

Financing By

Fitness Center

Gold's Gym & Dollar General

Listing Price: $5,729,000

Cap Rate
7.25%
Tenant Name
Gold's Gym & Dollar General
Guarantor
Corporate Guarantee
Rentable SF
42,094
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$9.87

Investment Highlights

  • 100% Occupied (Gold's Gym has sublet a portion of the unit to Smart Start Daycare)
  • NNN Leases – All CAM's Pass Through to Tenants
  • Recent Loan Quote Shows an 8.96% ROI After Debt Service
  • Gold's Gym has Occupied the site for 12 Years and Will Execute a New 10 Year NNN Lease Upon COE
  • Dollar General is an Investment Grade Tenant with a Corporate Guaranty
  • Site was Remodeled in 2013 and Traffic Count exceeds 17,000 Vehicles Passing by Daily
  • Strong Growth Area – Local Population increased by over 33% since 2000

Investment Overview

This Amazon resistant two tenant passive investment opportunity offers a purchaser two nationally recognized household name tenancies. The Gold’s Gym is a 8-unit operator offering a new 10 year NNN lease with 10% rent bumps including option periods to commence upon close of escrow. All CAMs pass thru to the Tenant making this acquisition a true sleep-at-night opportunity. The corporate guaranteed Dollar General extended their lease in 2019, showing their commitment for being at this location having occupied the site since 2006. The location was completely renovated in 2013, and the Gold’s Gym expanded their presence by taking over the remaining adjacent vacant space in 2017 due to the locations popularity.

Exclusively Listed By

Broker of Record

  • Adam Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s): CO: ER100091205

    Colorado

Financing By

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