Rock Hill, SC - Gold's Gym

Description:

SRS Real Estate Partners is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Gold’s Gym investment property located in Rock Hill, South Carolina. The tenant, Rock Hill Fitness Group, Inc., doing business as Gold’s Gym, has approximately 15 years remaining on its lease with 2 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 1.25% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. No annual increases occur from 8/1/2036 to 7/31/2039. The lease is guaranteed by 3 additional entities which includes 20 units total (12 gyms and 8 dental practices). The lease is NN with landlord responsibilities limited to maintaining the roof and structure.

Gold’s Gym is located on Cherry Road, featuring 41,200 VPD. Cherry Road is a major retail thoroughfare serving the city of Rock Hill. The Gold’s Gym is an outparcel to a Publix-anchored shopping center that also features Advance Auto Parts, Zips Car Wash, and Bank of America. The asset is also in close proximity to many national/credit tenants, including Walmart, The Home Depot, Big Lots, ALDI, Petsmart, Chick-fil-a, and more. Strong tenant synergy increases crossover exposure to the site. The subject site is located near on/off ramp access to Interstate-77 (90,200 VPD), a major north-south US Highway that stretches from South Carolina to Ohio, and connects Rock Hill to the rest of the Charlotte, NC MSA. The 5-mile trade area is supported by over 115,900 residents and 53,500 employees, with a healthy average annual household income of $104,272.