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2747 E 5th StTyler, TX 75701
Planet Fitness | Tyler, TX
Asset ClassRetail
Cap Rate6.5%
Deal Size: $3.1 MLease-Term Remaining: 6.9 YearsAccess Data Room
Planet Fitness | Franchisee of the Year | Low Rent $9/SF | Lease Extension | Income Tax Free State (Texas) | Tyler, TX
overview of deal

Overview

The NNN Fitness group of Marcus & Millichap is pleased to bring to market a 22,800 square-foot single-tenant Planet Fitness located in Tyler, TX. Planet Fitness recently extended the initial term of the lease for an additional 7 years at a low rent of $9/SF expiring in 2031. The lease features (2) 5 year renewal options remaining with 10% rental increases in each of the remaining options.

 

Positioned adjacent to S SE Loop 323 and Fifth St. a main retail and medical corridor that sees over 39,000 vehicles per day. Furthermore, the property benefits from its location less than 1 mile from Tyler Junior College and UT Tyler main campus with a combined 22,000+ students.

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Investment Highlights

  • Recent Lease Extension
  • Franchisee of The Year 2019 (150+ Units)
  • Excellent Visibility Nearby Signalized Intersection

INVESTMENT OVERVIEW

Deal Points
Price
$3,156,000
Cap Rate
6.50%
NOI
$205,200
Lease Type
NN
GLA
22,800 SF
Lot Size
3.70 AC
Year Built
1990
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2747 E 5th StTyler, TX 75701

INVESTMENT CONTACTS

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Listing provided by Revere CRE