Forney, 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 Forney, 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 just off of US Highway 80, which sees over 70,900 vehicles passing by daily. US Highway 80 is the major retail thoroughfare serving the city of Forney. The subject property is located in the center of a large retail development that features other national/credit tenants such as Kroger, Kohl’s, Panera Bread, Buffalo Wild Wings, Outback Steakhouse, Torchy’s Tacos, and more. Located less than half a mile from Mustang Crossing, a Walmart Supercenter and Lowe’s anchored center that features a host of national/credit tenants such as Chick-fil-A, Whataburger, Anytime Fitness, Chili’s, Wingstop, AutoZone, and many others The asset is located in the center of a primary retail corridor with other national/credit tenants including Raising Cane’s, Chipotle, McDonald’s, CVS, Starbucks, Jersey Mike’s, Crumbl, and others. The 5-mile trade area is supported by a population of over 92,400 residents and 13,400 employees with an average household income of $129,268.

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Listing ID: a28TP0000025Hf0YAE