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Planet Fitness | Salvation Army 294 Highland Ave 49,880 SF 100% Leased Retail Building Battle Creek, MI 49015 $7,395,559 CAD ($148.27 CAD/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term Leases | Planet Fitness and The Salvation Army are both subject to long-term leases
- Favorable Rental Increases | The Planet Fitness lease includes a 7.44% rental increase after 5 years, along with two 5-year renewal options
- Planet Fitness has recently entered into a new 10-year lease, while The Salvation Army still has over 4.5 yrs remaining on a recent 7-yr lease ext
- Top Performing Planet Fitness Location | This Planet Fitness location is among the topperforming locations nationwide
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Planet Fitness and Salvation Army property located at 294 Highland Avenue, Battle Creek, MI 49015. The site consists of roughly 49,764 rentable square feet of building space on an estimated 5.67-acre parcel of land. Planet Fitness recently extended its initial 10-year lease by another 10 years, which expires April 30, 2035. The Salvation Army is in its 7-year extension, which expires November 30, 2029. The average weighted lease term is 7.89 years., and the current annual NOI is $397,349.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Health Club
Building Size
49,880 SF
Building Class
C
Year Built/Renovated
1983/2014
Price
$7,395,559 CAD
Price Per SF
$148.27 CAD
Cap Rate
7.50%
NOI
$554,667 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.20
Lot Size
5.67 AC
Zoning
Commercial
Frontage
517’ on Highland Ave
AMENITIES
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
Walk Score®
Very Walkable (77)
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 0614-28-739-0 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,768,265 CAD |
PROPERTY TAXES
Parcel Number
0614-28-739-0
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,768,265 CAD
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Planet Fitness | Salvation Army | 294 Highland Ave
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