4665 Irving Blvd NW

This is a unique opportunity to acquire a fee-simple property featuring a long-standing, absolute NNN Planet Fitness, a leader in the fitness industry. Located at a high-traffic, signalized intersection with over 43,000 vehicles per day (VPD), this property offers both stability and growth potential for savvy investors.

Key Highlights:

• Price: $3,292,800
• Net Operating Income (NOI): $230,496
• Cap Rate: 7.00%
• Rentable Square Feet: 16,464 SF
• Land Size: 2.3 Acres
• Price Per Square Foot: $200
• Lease Term End Date: 12/31/2028
• Structure: Absolute NNN (No Landlord Responsibilities)

Investment Strengths:

• Secure and Long-Term Tenant: The tenant, Planet Fitness, recently exercised the first of its two 5-year options, demonstrating a strong commitment to the site. With over 4 years remaining on the current lease term, this investment offers steady cash flow and minimal management responsibilities.
• Tenant Strength: The property is operated by Ignite Fitness Holdings, one of the largest Planet Fitness franchisees in North America, with over 130 locations. This adds an extra layer of security to your investment.
• Prime Location: Surrounded by major national retailers including Costco, Starbucks, Smith's Grocery, and Lovelace Hospital, the property benefits from significant daily foot traffic. It boasts over 70 parking spaces and is ideally positioned to attract a steady stream of customers.
• Recent Capital Improvements: A new roof was installed in 2019, reducing potential near-term capital expenditures.

This property is an excellent addition to any investor’s portfolio, offering a combination of stable income, no management obligations, and a high-quality tenant in a prime location.