Planet Fitness Multi-tenant Asset | 601 W Llano Estacado Blvd
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Planet Fitness Multi-tenant Asset 601 W Llano Estacado Blvd
20,535 SF 100% Leased Retail Building Clovis, NM 88101 $3,937,000 ($192/SF) 8.75% Cap Rate
Investment Highlights
- Net leases to Planet Fitness and Cheech & Chong's Dispensoria, two Amazon-Proof tenants
- As of March 31, 2024, Planet Fitness had approximately 19.6 million members and 2,599 locations
- Planet Fitness is one the largest and fastest-growing franchisors and operators of fitness centers in the world by number of members and locations
- Scheduled rental increases in initial term and option periods for both tenants
- With locations in Massachusetts and New Mexico, Cheech & Chong's Dispensoria aims to revolutionize the way people experience cannabis retail
Executive Summary
Excellent visibility and access to 27,549 vehicles per day near the signalized intersection of Llano Estacado Boulevard & Prince Street
Prominently located near highly trafficked retail centers with major tenants in the surrounding area such as Walmart Supercenter, Lowe’s Home Improvement, Chipotle, Texas Roadhouse, Applebee’s, Chili’s, PetSmart, Dollar Tree, Big 5 Sporting Goods, Denny’s, and many others
Three miles from U.S. Route 60, a primary east-west thoroughfare which experiences a traffic count of 14,591 AADT vehicles per day
The property is centrally located between Amarillo and Albuquerque, allowing the site to capture a significant amount of local and commuter traffic
The site maintains excellent proximity to Cannon Air Force Base, the largest employer in Clovis (5,332 active-duty members, 4,720 employees)
The location resides 2.5 miles from Hillcrest Park Zoo, which welcomes approximately 50,000 annual visitors, and seven miles from Clovis Regional Airport, which experienced a record-high 14,000 enplanements in 2023
Prominently located near highly trafficked retail centers with major tenants in the surrounding area such as Walmart Supercenter, Lowe’s Home Improvement, Chipotle, Texas Roadhouse, Applebee’s, Chili’s, PetSmart, Dollar Tree, Big 5 Sporting Goods, Denny’s, and many others
Three miles from U.S. Route 60, a primary east-west thoroughfare which experiences a traffic count of 14,591 AADT vehicles per day
The property is centrally located between Amarillo and Albuquerque, allowing the site to capture a significant amount of local and commuter traffic
The site maintains excellent proximity to Cannon Air Force Base, the largest employer in Clovis (5,332 active-duty members, 4,720 employees)
The location resides 2.5 miles from Hillcrest Park Zoo, which welcomes approximately 50,000 annual visitors, and seven miles from Clovis Regional Airport, which experienced a record-high 14,000 enplanements in 2023
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
20,535 SF
Building Class
B
Year Built
2017
Price
$3,937,000
Price Per SF
$192
Cap Rate
8.75%
NOI
$344,412
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Land Acres
2.34 AC
Zoning
CG
Parking
125 Spaces (6.09 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 121101243850900 | Improvements Assessment | $607,317 |
| Land Assessment | $61,955 | Total Assessment | $669,272 |
PROPERTY TAXES
Parcel Number
121101243850900
Land Assessment
$61,955
Improvements Assessment
$607,317
Total Assessment
$669,272
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Power Broker Vincent Aicale -
Power Broker Michael Yuras -
Russell Train -
Power Broker Ryan Forsyth -
Power Broker Scott Crowle -
Cushman & Wakefield
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Planet Fitness Multi-tenant Asset | 601 W Llano Estacado Blvd
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