Fern Park, FL - EoS Fitness

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, EOS Fitness investment property located in Fern Park, Florida. The tenant currently has 13+ years remaining on their initial lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with landlord responsibilities limited to roof and structure making it an ideal, low-management investment opportunity for a passive investor. With more than 175 gym locations open and on the way in Arizona, Florida, Georgia, Nevada, Southern California, Texas and Utah, EOS Fitness is rapidly expanding.

The subject property is located near the flyover intersection of State Hwy 436 and U.S. Hwy 17&92 with a combined 143,500 VPD. The site is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including Lowe’s, Target, Aldi, Starbucks, Raising Cane’s, Taco Bell, Petsmart, Wendy’s, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The asset is located near AdventHealth Altamonte Springs (393 beds) which is a major hospital in Central Florida. Furthermore, the site is in close proximity to The Park at Rialto (352 units), Regency Oaks Apartments (343 units), English Estates Elementary School (686 students), and Casselberry Elementary School (766 students) further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by a population of over 254,000 and 148,000 employees, providing a direct consumer base from which to draw. Residents within a 5-mile radius of the property boast an affluent average household income of $110,854.