5240 Commercial St SE
Salem, OR 97306
Planet Fitness · Retail Property For Sale

The offering provides an investor with the opportunity to acquire a single tenant Planet Fitness in Salem, OR. The lease features a 10 year primary term, two 5-year options and 10% rental increases every five years. The subject property recently opened its doors to the public on July 1, 2019 after undergoing major renovations that included a new roof and 20-year roof warranty, as well as significant work done to the parking lot. The subject property is located within a Walmart anchored shopping center on the corner of Commercial Street and Barnes Avenue, and benefits from combined traffic counts of over 29,500 VPD. The lease is double net with minimal landlord expense obligations and is personally guaranteed by the operator (please contact broker for details. The Retail Market - The subject property is located in a southern Salem community with strong demographics. Located along Salem’s primary north/south retail corridor, the immediate trade area is made up of densely concentrated retail and residential neighborhoods. Commercial Street is a primary thoroughfare that runs through downtown Salem, and Kuebler Boulevard provides direct access to Interstate 5. The immediate trade area features a strong mix of daily needs tenants that provide a steady draw of traffic to the area. The line-up of surrounding tenants includes Walmart, Safeway, Trade Joes, Walgreens, McDonald’s, Dutch Bros, as well as many other national tenants. Listed in conjunction with OR licensed broker: Sean Mack smack@capitalpacific.com Ph: 503.675.8378 OR Lic.# 990100161