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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.

 

Steve Greer

Broker of Record

629 W. Main Street, Ste. 107

Oklahoma City, OK 73102

Lic #: 206118

P: (225) 376-6800

Steve.greer@marcusmillichap.com

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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