Saginaw (Fort Worth), TX - Crunch Fitness

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Crunch Fitness investment property located in Saginaw, Texas. The tenant, Crunch Fitness, recently signed a brand new, 20-year 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 absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The Crunch Fitness is located near the signalized, hard corner intersection of N Blue Mound Rd and Creststone Trail which combine to average over 17,700 vehicles passing by daily. N Blue Mound Rd is a major retail thoroughfare serving the city of Saginaw. The Crunch Fitness is a part of the Victory Shops at Basswood with other national/credit tenants including McDonald’s, Starbucks, Chipotle, Jersey Mike’s, AutoZone, Swig, Salad & Go, and others. In addition, the asset is near a Kroger anchored center with other tenants including CVS, Pizza Hut, Take 5 Car Wash, and more. The property is located across from Saginaw High School, which has approximately 2,200 students, providing a direct consumer base from which the asset can draw upon. The 5-mile trade area is supported by a population of over 287,000 residents and 76,400 employees with an average household income of $116,958.

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Listing ID: a28TP0000025IJJYA2