Lake Worth, TX - Spec's & Planet Fitness

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 2-building, multi-tenant retail investment opportunity in Lake Worth, Texas. The offering features a diverse lineup of tenants including Spec’s and Planet Fitness, which have approximately 10 years of weighted lease term remaining on their current leases. The leases are NNN in nature with landlord responsibilities limited to roof, structure, and CAM, making it an ideal, low management investment opportunity.

The two-tenant site is located along Lake Worth Boulevard with excellent frontage visibility along this high-trafficked street with approximately 48,800 vehicles per day. Lake Worth Boulevard is the major retail thoroughfare serving the City of Lake Worth. The two-tenant strip is located near Lake Worth Towne Crossing, a Target-anchored center that also features national/credit tenants including Five Below, Ross Dress for Less, PetSmart, Hobby Lobby, and Michaels. In addition, the asset is also near Lake Worth Marketplace, a shopping center anchored by Kohl’s and Marshalls, along with other national/credit tenants. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, AMC Theaters, Home Depot, Lowe’s, Chipotle, Starbucks, Dollar General, Staples, and more, further increasing consumer traffic to the site. The property is located in a highly trafficked corridor with access to Interstate 820 with an average traffic count of 111,700 vehicles per day. The subject property is located in the 5-mile trade area supported by a population of over 164,000 and over 46,000 employees with an average household income of $104,871.

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Listing ID: a28TP00000293bpYAA