Gold's Gym | New 15yr NN w/ Increases 2182 Cherry Rd 32,000 SF Retail Building Rock Hill, SC 29730 $5,694,000 ($177.94/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New 15-Year Lease | Several Guarantors | Options To Extend | Rental Increases
- Outparcel to Publix-Anchored Center | Interstate-77 | Major Retail Thoroughfare
- NN-Leased | Fee Simple Ownership | Minimal Landlord Responsibilities
- Strong Demographics In 5-mile Trade Area
EXECUTIVE SUMMARY
SRS Real Estate Partners is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Gold’s Gym investment property located in Rock Hill, South Carolina. The tenant, Rock Hill Fitness Group, Inc., doing business as Gold’s Gym, has approximately 15 years remaining on its lease with 2 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 1.25% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. No annual increases occur from 8/1/2036 to 7/31/2039. The lease is guaranteed by 3 additional entities which includes 20 units total (12 gyms and 8 dental practices). The lease is NN with landlord responsibilities limited to maintaining the roof and structure.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
32,000 SF
Building Class
C
Year Built
2009
Price
$5,694,000
Price Per SF
$177.94
Cap Rate
7%
NOI
$398,580
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
4.10 AC
Zoning
Commercial
Parking
168 Spaces (5.25 Spaces per 1,000 SF Leased)
Frontage
182’ on Cherry Rd
AMENITIES
- Freeway Visibility
- Signage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Arts, Entertainment, and Recreation
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99,999 SF
- -
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Lorem Ipsum
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Jan 0000
Gold’s Gym has been the world’s trusted fitness authority since 1965. From its beginning as a small gym in Venice, California, Gold’s Gym has grown into a global icon with hundreds of locations serving millions of people across numerous continents each day. Whether an industry professional or if interested in pursuing a dream to make a passion for Fitness a meaningful reality, they want to help transform lives. Gold’s Gym journey started on a beach in California, their customers' starts today.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
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Arts, Entertainment, and Recreation | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 6340701063 | Improvements Assessment | $229,991 |
| Land Assessment | $73,872 | Total Assessment | $303,863 |
