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4106 S Western AveOklahoma City, OK 73109
Vasa Fitness, Oklahoma City, OK
Asset ClassRetail
Lease-Term Remaining10 Years
Cap Rate: 7.25%Deal Size: $8.32 MAccess Data Room
Vasa Fitness | 7.25% Cap | $8.32M | 10+ Yr Lease Term | 2019 Prototype | Oklahoma City, OK
overview of deal

Overview

The NNN Fitness Group of Marcus & Millichap is pleased to present a single-tenant prototype VASA Fitness in Oklahoma City, OK. The lease term features over 10 years remaining with (3) 5-year options to renew. This location has tremendous foot traffic; top 6% of health clubs nationwide and ranks as the #7 fitness center in Oklahoma City MSA, according to Placer.ai foot traffic. VASA Fitness is prominently located across the street from the 31-acre INTEGRIS Southwest Medical Center and adjacent to the #1 Walmart Neighborhood Market in the state of Oklahoma, at the excellent intersection of S Western Ave and SW 44th St with a combined VPD of 33,550.

 

VASA Fitness brand dominates Oklahoma City with 1.37 million annual customer visits to the two highest-grossing gyms in the market. Southern Oklahoma City provides an incredibly captive customer base for the Property as there is no other +25,000-SF health club that is located within 5 miles of the Property, south of Oklahoma River. Oklahoma City is a growing city with an excellent rating, Moody’s ranking of Aaa, reflecting the city’s large and stable economy.

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Investment Highlights

  • Dominant Market Share Between Two OKC Locations
  • Strategic Store Spacing for Market Coverage
  • Low Rent & Below Replacement Value
  • A Major Medical Campus Complements VASA
  • #1 Walmart Neighborhood Market in OKC Evidences the Excellent Intersection
  • Growing City, Low Cost of Living & Excellent Rating

Investment Overview

Deal Points
Price
$8,320,786
Cap Rate
7.25%
NOI
$603,257
GLA
50,326 SF
Lot Size
6.49 AC
Year Built
2019
Lease Type
NN
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4106 S Western AveOklahoma City, OK 73109
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Listing provided by Revere CRE