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5045 51st Ct NE
Columbia Heights, MN 55421
Planet Fitness, Columbia Heights · Retail Property For Sale
PROPERTY FACTS
ABOUT 5045 51ST CT NE , COLUMBIA HEIGHTS, MN 55421
NATIONALLY RECOGNIZED BRAND With over 1,518 stores, Planet Fitness has a presence in most major markets around the United States. The business model is proven to be successful and scalable. There are 10 locations within the Minneapolis-St Paul Metro and 14 within the state of Minnesota. Additionally, all of the Minnesota franchises are owned by one operator. MINIMAL LANDLORD RESPONSIBILITIES Tenant is responsible for all expenses at the property, including structural and roof repairs, leaving very little responsibility for ownership. LONG-TERM LEASE The lease, signed at the beginning of 2018, is 15 years long with 1.25% increases annually. Additionally, Planet Fitness has four renewal options for five years each. TRAFFIC COUNTS Central Avenue sees 27,500 vehicles per day. The site is just south of the intersection of I-694, which sees 120,000 vehicles per day.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,351,500 | |
| Land Assessment | $1,005,200 | Total Assessment | $3,356,700 |
PROPERTY TAXES
