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Gold's Gym | New 15yr NN w/ Increases 2182 Cherry Rd

32,000 SF Retail Building Rock Hill, SC 29730 $5,694,000 ($178/SF) 7% Cap Rate

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Investment Highlights

Brand New 15-Year Lease | Several Guarantors | Options To Extend | Rental Increases
Outparcel to Publix-Anchored Center | Interstate-77 | Major Retail Thoroughfare

NN-Leased | Fee Simple Ownership | Minimal Landlord Responsibilities
Strong Demographics In 5-mile Trade Area

Executive Summary

SRS Real Estate Partners is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Gold’s Gym investment property located in Rock Hill, South Carolina. The tenant, Rock Hill Fitness Group, Inc., doing business as Gold’s Gym, has approximately 15 years remaining on its lease with 2 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 1.25% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. No annual increases occur from 8/1/2036 to 7/31/2039. The lease is guaranteed by 3 additional entities which includes 20 units total (12 gyms and 8 dental practices). The lease is NN with landlord responsibilities limited to maintaining the roof and structure.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

32,000 SF

Building Class

Year Built

2009

Price

$5,694,000

Price Per SF

$178

Cap Rate

NOI

$398,580

Tenancy

Single

Building Height

1 Story

Building FAR

0.18

Lot Size

4.10 AC

Zoning

Commercial

Parking

168 Spaces (5.25 Spaces per 1,000 SF Leased)

Frontage

182 FT on Cherry Rd

Amenities

Freeway Visibility

Signage

Arts, Entertainment, and Recreation
99,999 SF
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Gold’s Gym has been the world’s trusted fitness authority since 1965. From its beginning as a small gym in Venice, California, Gold’s Gym has grown into a global icon with hundreds of locations serving millions of people across numerous continents each day. Whether an industry professional or if interested in pursuing a dream to make a passion for Fitness a meaningful reality, they want to help transform lives. Gold’s Gym journey started on a beach in California, their customers' starts today.