855 LaGrange St
South Haven, MI 49090
Retail Property For Sale

Marcus & Millichap is pleased to present a well established, single-tenant Anytime Fitness with an absolute triple net lease located in South Haven Michigan. The location has been operating since 2010 and is conveniently located on the busiest thoroughfare into downtown South Haven. South Haven is located in Southwest Michigan on the shores of Lake Michigan. One of the premier vacation destinations in Michigan with nearly 1.6 million vacationers per year, generating over $101 Million in tourism revenue to Van Buren county. South Haven is located 56 miles southwest of Grand Rapids and 122 miles from Chicago. The seller is a franchisee that will execute a 10-year, absolute NNN Sale-Leaseback at close of escrow. Rent has been established at $11 per square foot which is below market rent and includes a 10% increase starting in the sixth year of the lease. The lease also calls for two, five-year options that coincide with additional rent increases of 10% per option period. Anytime Fitness is located on the Corner of LaGrange street and Willow Avenue. The building is surrounded by residential properties and is a walk away from Downtown South Haven and South Haven High School. The property is located 3 minutes from Interstate 196 with great curb appeal and high traffic counts. Nearly 82% of the entire population of South Haven resides within 3 miles of the property making this an ideal fitness center for the community. The average household income in the area is approximately $50,000 per year which is an ideal income level for gym membership without the threat of home gyms. Anytime Fitness benefits from minimal competition from other gyms and is the leading fitness provider in the area.