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Planet Fitness 7530 Thunder Ln 15,019 SF 100% Leased Retail Building Powell, TN 37849 $6,006,000 ($399.89/SF) 6.50% Cap Rate
Investment Highlights
- Investors have the flexibility to acquire the asset as part of a larger portfolio or as a standalone investment.
- Situated in Knox County, Tennessee’s third-largest county with a population exceeding 500,000 residents.
- Located within a growing residential community supported by strong schools, established neighborhoods, and an increasing concentration of dual-income
- Strategically located along the heavily traveled East Emory Road corridor with signalized access and more than 27,000 vehicles per day.
- Positioned among a strong concentration of national brands creating a highly active retail environment with consistent consumer traffic.
- Constructed in 2024, the property requires minimal near-term capital expenditures and features approximately 12 years remaining on the initial lease.
Executive Summary
Broker of Record
Hutt Cooke
Matthews Real Estate Investment Services, Inc
356505, 263667 (TN)
1600 West End Ave, Ste. 1500 Nashville, TN 37203 (866) 889-0550
Hutt Cooke
Matthews Real Estate Investment Services, Inc
356505, 263667 (TN)
1600 West End Ave, Ste. 1500 Nashville, TN 37203 (866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Health Club
Building Size
15,019 SF
Building Class
C
Year Built
2023
Price
$6,006,000
Price Per SF
$399.89
Cap Rate
6.50%
NOI
$390,390
Percent Leased
100%
Building Height
1 Story
Building FAR
0.22
Lot Size
1.58 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Arts, Entertainment, and Recreation
- -
- -
- -
Planet Fitness began in 1992 in Dover, New Hampshire, and grew from a small local gym into a fitness-club brand built around low-cost memberships and a broad appeal to casual exercisers. The company's business centers on franchising fitness clubs, operating a smaller number of corporate-owned locations, and supporting club development with equipment placement and related services. Today, Planet Fitness maintains a broad network of clubs across the United States and in several international markets, and the company has experienced continued growth in memberships, club openings, and system-wide sales.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Arts, Entertainment, and Recreation | - | - | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 047-08305 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,813,040 |
Property Taxes
Parcel Number
047-08305
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,813,040
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