3105 William D Tate Ave | Grapevine, TX 76051
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3105 William D Tate Ave
Grapevine, TX 76051
Movement Climbing, Yoga & Fitness · Retail Property For Sale
Investment Highlights
- Corporate lease, the largest operator of rock-climbing gyms in the US with 32 locations
- 15-year original lease commenced in April 2023, 14 years of firm term remaining and scheduled 2.00% annual rental increases
- Double-net Lease (Landlord responsibilities limited to roof repair, maintenance, and replacement)
- Location features: 50-foot-high rope climbing walls, Extensive bouldering terrain, Complete fitness facilities, and Dedicated yoga studio
- 4 (5-Year) Renewal Options with 2.00% annual rental increases
- High-traffic site facing 2 major highways (State Highways 360 & 121)
Executive Summary
Newmark, as an exclusive advisor, is excited to offer the opportunity to acquire a double-net leased Movement Climbing Yoga & Fitness facility in Grapevine, TX. This location is meticulously designed, boasting a secure lease with 14 years of guaranteed term remaining (along with 20 years of available options). The property showcases outstanding financial performance.
14 Years Lease Term Remaining
Fee Simple Owernship Interest
14 Years Lease Term Remaining
Fee Simple Owernship Interest
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Health Club
Building Size
36,000 SF
Building Class
B
Year Built
2022
Price
$21,279,000
Price Per SF
$591
Cap Rate
6.50%
NOI
$1,383,135
Tenancy
Single
Building Height
3 Stories
Building FAR
0.20
Lot Size
4.20 AC
PROPERTY TAXES
| Parcel Number | 42819669 | Improvements Assessment | $2,282,184 |
| Land Assessment | $792,816 | Total Assessment | $3,075,000 |
PROPERTY TAXES
Parcel Number
42819669
Land Assessment
$792,816
Improvements Assessment
$2,282,184
Total Assessment
$3,075,000
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