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Planet Fitness 16852 SW Edy Rd

15,728 SF Retail Building Sherwood, OR 97140 $4,825,000 ($307/SF) 6.25% Cap Rate

Investment Highlights

  • Quality 15,728 SF modern retail building with limited LL responsibilities
  • Prime location in Sherwood retail area off Highway 99W
  • Initial 10 year lease expires Jan 31, 2029
  • 131 surface parking slots
  • Flat rent through end of current lease term
  • Lease includes 2, 5-year renewal options up to 6.5% of the preceding term rate

Executive Summary

Presenting an exceptional investment opportunity in the heart of Sherwood: a premier 15,728-square-foot retail building, constructed in 2018. This free-standing, fully occupied property is situated in the highly desirable RC zoning district, offering significant potential for long-term retail success. With modern construction, prime visibility, and meticulous maintenance, this asset promises both immediate value and strong returns for the savvy investor.
Strategically positioned alongside established retailers like Starbucks, OnPoint Community Credit Union, IHOP, GNC Supplements, and Guardian Veterinary Care, this property benefits from consistent foot traffic and high visibility. The adjacent land is primed for future retail development, further enhancing the property’s appeal and potential for growth. This is a rare chance to secure a profitable foothold in Sherwood’s vibrant and expanding commercial landscape.
Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the united States. Founded in 1992 in Dover, New Hampshire, the company has expanded to over 2,000 locations across the U.S., Canada and other countries as of 2023. Known for its affordable membership fees and welcoming atmosphere, Planet Fitness promotes a "Judgement Free Zone" philosophy to make gym environment's inclusive for people of all fitness levels.
This location is operated by one of the fastest-growing Planet Fitness franchisee's with 16 locations in Oregon and Alaska with plans to expand both domestically and internationally. The lease includes a personal guarantee from the primary principal of the operator.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Health Club
Building Size
15,728 SF
Building Class
B
Year Built
2018
Price
$4,825,000
Price Per SF
$307
Cap Rate
6.25%
NOI
$301,563
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
1.33 AC
Zoning
RC - City of Sherwood for versatile use
Parking
131 Spaces (8.33 Spaces per 1,000 SF Leased)

Nearby Major Retailers

IHOP
Planet Fitness
Starbucks
KeyBank
Dutch Bros
Safeway
Wells Fargo Home Mortgage
Baja Fresh
My Gym
Chase Bank

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
R2207395
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,736,520
  • Listing ID: 33222095

  • Date on Market: 9/18/2024

  • Last Updated:

  • Address: 16852 SW Edy Rd, Sherwood, OR 97140

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