Crunch Fitness | 17yrs Remain NNN | BoA ATM | 1332 S Pleasantburg Dr
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Crunch Fitness | 17yrs Remain NNN | BoA ATM 1332 S Pleasantburg Dr
38,003 SF Retail Building Greenville, SC 29605 $6,500,000 ($171/SF) 7.24% Cap Rate
Investment Highlights
- 18 Years Remaining | Scheduled Rental Increases |Well-Known and Established Fitness Center
- Signalized, Hard-Corner Intersection | Bank of America ATM | Interstate 85 (117,100 VPD) | Excellent Visibility & Access
- Strong Demographics in 5-Mile 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, recently executed a brand new 15-year lease, 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 17 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 currently operating 4 locations with 6 more opening this year.
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
$6,500,000
Price Per SF
$171
Cap Rate
7.24%
NOI
$470,890
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.23
Land Acres
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
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Crunch Fitness
- Retailer
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99,999 SF
- -
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Lorem Ipsum
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Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Crunch Fitness | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
PROPERTY TAXES
| Parcel Number | M015.05-01-004.03 | Improvements Assessment | $241,250 |
| Land Assessment | $50,620 | Total Assessment | $291,870 |
PROPERTY TAXES
Parcel Number
M015.05-01-004.03
Land Assessment
$50,620
Improvements Assessment
$241,250
Total Assessment
$291,870
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Power Broker Patrick Luther -
Power Broker Matthew Mousavi -
SRS National Net Lease
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Crunch Fitness | 17yrs Remain NNN | BoA ATM | 1332 S Pleasantburg Dr
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