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Planet Fitness | 6.50% Cap Rate | Low $12.50/SF Rent | Phoenix, AZ

$3,846,200

3630 West Southern Avenue, Phoenix, AZ 85041

Active
Last Updated: 06/15/2026

6.5

Cap Rate

250,000

NOI

Details:
Cap Rate:    6.5%
NOI:    $250,000
Building Size:    20,000 sqft
Lot Area:    1.38 acres
Occupancy:    100%
Lease Type:    Double Net
Year Built:    2016
Price Per Sqft:    $194
Tenancy:    Single
Parking Spots:    232
Gross Leaseable Area:    20,000
Investment Strategy:    Core Plus
Lease Expire Year:    10/31/2031
Highlights:
  • National Credit Tenant with Scalable Model
  • Top Planet Fitness Franchisee
  • Extremely Low Rent & Price Point
  • High-Traffic Arterial Corridor
Description:

The NNN Fitness Group of Marcus & Millichap is pleased to present the opportunity to acquire a single-tenant Planet Fitness located in Phoenix, Arizona. The 20,000 SF fitness facility is secured by a NN lease with United PF (195+ Units), one of the largest and most experienced Planet Fitness franchisees in the country, providing strong national credit-backed income and minimal landlord responsibilities. The offering features approximately 5.3 years of remaining term with structured rent increases and four 5-year renewal options, along with below-market rent of just $12.50/SF, supporting strong unit-level economics and long-term tenant durability.

Located within a high-traffic arterial corridor of Phoenix, the property benefits from strong visibility, convenient access, and consistent commuter traffic (44,388 combined VPD). The surrounding area includes over 214,000 residents within a five-mile radius, supported by robust average household incomes exceeding $108,000 within three miles, providing a strong and stable consumer base for long-term demand.

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Documents:
Title
Planet_Fitness__Phoenix__AZ_-_OM.pdf
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