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Top-Performing Planet Fitness Anchor | New 10-Year Lease | Branford, CT ($147k AHHI) | 3% Annual Bumps

$5,890,000

469 East Main Street, Branford, CT 06405

Active
Last Updated: 02/12/2025

7

Cap Rate

412,296

NOI

Details:
Cap Rate:    7%
NOI:    $412,296
Building Size:    20,088 sqft
Lot Area:    3.93 acres
Year Built:    2005
Tenancy:    Multiple
Gross Leaseable Area:    20,088
Investment Strategy:    Core Plus
Highlights:
  • Recent 10 year Extension & Low Rent
  • Top Performing Location
  • Strong Demographics
Description:

The NNN Fitness Group of Marcus & Millichap is pleased to present a multi-tenant investment opportunity anchored by a top-performing Planet Fitness in Branford, CT. Planet Fitness recently extended its lease for an additional 10 years through 2034, with two 5-year renewal options and 3% annual rent increases, contributing 78% of the total gross income and providing stable growth over the long term.

This Planet Fitness ranks as the #1 health club within a 15-mile radius and is in the top 6% of locations nationwide, highlighting its exceptional performance and customer loyalty. Situated in a mature trade area, the property draws from a dense residential community of over 28,000 residents, with an average household income exceeding $147,000 within one mile. Surrounded by national retailers, this property benefits from strong demographics, high visibility, and a thriving commercial environment, making it an attractive investment opportunity.

Map:
Documents:
Title
Planet_Fitness__Branford__CT_-_OM.pdf
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