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Planet Fitness 11756 US-70 BUS 24,000 SF Retail Building Clayton, NC 27520 $7,111,000 ($296.29/SF) 6.75% Cap Rate
Investment Highlights
- HIGH PROFILE BRAND WITH EXTREMELY STRONG FRANCHISEE
- ATTRACTIVE LEASE FUNDAMENTALS
- NEW CONSTRUCTION
Executive Summary
ATTRACTIVE LEASE FUNDAMENTALS
- 15 Yr NNN Lease with No Landlord Responsibilities
- Three (3) five (5) year extensions remaining
- 10% Increases every 5 years in base rent and extension periods
HIGH PROFILE BRAND WITH EXTREMELY STRONG FRANCHISEE
- Planet Fitness has over 2,600 locations and is considered one of the fastest growing fitness franchises in the US
- More than 17M members
- Excel Fitness has over 160+ locations in 9 different states
- Excel has partnered with P.E. Firm Olympus Partners ($8.5B AUM) to help achieve growth strategy
HIGHLY VISIBLE AND TRAFFICKED LOCATION
- Fronting US 70 BUS Hwy W (40,500 VPD)
- Direct Access to Cameron Crossing, a 200 unit townhome community
-Less than quarter mile to Stalling Mills, a 288 unit apartment complex
RETAIL DENSE STRIP
- Over 627KSF of retail space located in a 1-mile radius
- Nearby National Retailers include: Lowes Foods, Walmart Super Center, Bojangles, Biscuitville, Arby’s, Dairy Queen and Culvers
NEW CONSTRUCTION
- Rare Stand-Alone single tenant Planet Fitness that is set to be complete in December 2025
- The 24,000 SF build-to-suit property sits on 3.00 Acres
A TOP PERFORMING MARKET NATIONALLY
- Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
- Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
- Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News
- 15 Yr NNN Lease with No Landlord Responsibilities
- Three (3) five (5) year extensions remaining
- 10% Increases every 5 years in base rent and extension periods
HIGH PROFILE BRAND WITH EXTREMELY STRONG FRANCHISEE
- Planet Fitness has over 2,600 locations and is considered one of the fastest growing fitness franchises in the US
- More than 17M members
- Excel Fitness has over 160+ locations in 9 different states
- Excel has partnered with P.E. Firm Olympus Partners ($8.5B AUM) to help achieve growth strategy
HIGHLY VISIBLE AND TRAFFICKED LOCATION
- Fronting US 70 BUS Hwy W (40,500 VPD)
- Direct Access to Cameron Crossing, a 200 unit townhome community
-Less than quarter mile to Stalling Mills, a 288 unit apartment complex
RETAIL DENSE STRIP
- Over 627KSF of retail space located in a 1-mile radius
- Nearby National Retailers include: Lowes Foods, Walmart Super Center, Bojangles, Biscuitville, Arby’s, Dairy Queen and Culvers
NEW CONSTRUCTION
- Rare Stand-Alone single tenant Planet Fitness that is set to be complete in December 2025
- The 24,000 SF build-to-suit property sits on 3.00 Acres
A TOP PERFORMING MARKET NATIONALLY
- Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
- Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
- Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News
Property Facts
Sale Type
Investment
Property Type
Building Size
24,000 SF
Year Built
2026
Construction Status
Under Construction
Price
$7,111,000
Price Per SF
$296.29
Cap Rate
6.75%
NOI
$480,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
3.44 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Planet Fitness
- Retailer
- 24,000 SF
- -
- Triple Net
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Planet Fitness | Retailer | 24,000 SF | - | Triple Net | - |
Fairly walkable
50/100
Very drivable
80/100
Somewhat bikeable
30/100
Nearby Major Retailers
Contacts
-
David Hoppe -
Mike Lucier -
Ben Olmstead -
Connor Kuchman -
Ben McCarter -
Mason McVicker -
Atlantic Capital Partners
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Planet Fitness | 11756 US-70 BUS
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