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Crunch Fitness 1332 S Pleasantburg Dr 38,003 SF Retail Building Greenville, SC 29605 $8,644,773 CAD ($227.48 CAD/SF) 7.55% Cap Rate
INVESTMENT HIGHLIGHTS
- 16 Years Remaining | Scheduled Rental Increases |Well-Known and Established Fitness Center
- Signalized, Hard-Corner Intersection | Bank of America ATM | Interstate 85 (118,000 VPD) | Excellent Visibility & Access
- Strong Demographics in The Immediate Trade Area
- NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
- Retail Corridor | Strong National/Credit Tenant Presence
EXECUTIVE SUMMARY
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, recently remodeled, freestanding Crunch Fitness investment property located in Greenville, South Carolina (Spartanburg MSA). Crunch Fitness, who currently occupies the building as a subtenant, has a lease expiration date of May 31, 2041, demonstrating their commitment to the site. Food Lion, under its current master lease, will continue to pay rent until Crunch Fitness’ rent commencement date in June 2026, bringing the total term remaining to 16 years. The Crunch Fitness lease features 1.25% annual rental increases throughout the initial term, steadily growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. The tenant is an experienced franchisee for the brand. JF Fitness has an additional guaranty on the property, one of the largest franchisees in the Crunch system.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
38,003 SF
Building Class
B
Year Built/Renovated
2006/2022
Price
$8,644,773 CAD
Price Per SF
$227.48 CAD
Cap Rate
7.55%
NOI
$652,667 CAD
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.23
Lot Size
3.72 AC
Zoning
C-2 - Commercial District
Parking
158 Spaces (4.16 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
- Monument Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | M015.05-01-004.03 | Improvements Assessment | $357,861 CAD |
| Land Assessment | $88,816 CAD | Total Assessment | $446,676 CAD |
PROPERTY TAXES
Parcel Number
M015.05-01-004.03
Land Assessment
$88,816 CAD
Improvements Assessment
$357,861 CAD
Total Assessment
$446,676 CAD
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Crunch Fitness | 1332 S Pleasantburg Dr
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