Gold's Gym | New 15yr NN w/ Increases
32,000 SF | Retail Building | Rock Hill, SC 29730 | $6,000,000 ($188/SF) | 6.64% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $6,000,000
- Property Type
-
Retail
- Square Feet
- 32,000 SF
- Price / Square Foot
- $188
Listing Contacts
Patrick Luther
Verified Profile
Matthew Mousavi
Verified Profile
- Property Info
Property Overview
SRS Real Estate Partners is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Gold’s Gym investment property located in Rock Hill, South Carolina. The tenant, Rock Hill Fitness Group, Inc., doing business as Gold’s Gym, has approximately 15 years remaining on its lease with 2 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 1.25% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. No annual increases occur from 8/1/2036 to 7/31/2039. The lease is guaranteed by 3 additional entities which includes 20 units total (12 gyms and 8 dental practices). The lease is NN with landlord responsibilities limited to maintaining the roof and structure.
Property Details
- Class
- C
- Year Built/Renovated
- 2009/2015
- Stories
- 1
- Property Subtype
- Freestanding, Other Health Care
- Lot Size (sq. ft)
- 178,596 SF
Highlights
- Brand New 15-Year Lease | Several Guarantors | Options To Extend | Rental Increases
- NN-Leased | Fee Simple Ownership | Minimal Landlord Responsibilities
- Outparcel to Publix-Anchored Center | Interstate-77 | Major Retail Thoroughfare
- Strong Demographics In 5-mile Trade Area
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