McKinney, TX - Crunch Fitness
$16,613,000
8551 Eldorado Parkway, McKinney, TX 75070
6.5
Cap Rate
1,079,824
NOI
Details:
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 McKinney, 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 Eldorado Parkway and Custer Road which combine to average over 45,400 vehicles passing by daily. Eldorado Parkway is a major retail thoroughfare serving the city of McKinney. The subject property is located near Custer Star Center, a Kroger anchored center with other national/credit tenants including Petco, Orangetheory, CAVA, Pei Wei, Chicken Express, and others. The property is located in the center of a primary retail corridor with other national/credit tenants including H-E-B, Tom Thumb, First Watch, McDonald’s, Starbucks, CVS, Planet Fitness, and many more, further increasing consumer traffic to the site. The asset is located less than 2 miles from The Grove Frisco, a 735-acre development that will feature approximately 3,000 units . The
5-mile trade area is supported by a population of over 307,800 residents and 57,800 employees with an affluent average household income of $188,277.
Location
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