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Lawrenceville, GA - Crunch Fitness
1175-1185 Scenic Highway South | Lawrenceville, GA 30045
$5,657,000
Price7%
Cap Rate$396,000
NOI22,000
± SF Offering GLADescription
SRS National Net Lease Group is pleased to present the rare opportunity to acquire Crunch Fitness, an absolute NNN leased, newly constructed, investment property located in Lawrenceville, GA. The tenant, JVT HOLDINGS, LLC, will start a brand new 12.5-year lease, with 3 (5-year) option periods to extend. The lease features rare 10% rental increases every 5 years in the initial term, and throughout the option periods. The tenant is an experienced operator of nine Crunch Fitness locations in the Georgia/Florida markets. The lease is personal/franchisee guaranteed and is absolute NNN with zero landlord responsibilities.
Location
Crunch Fitness is located along State Highway 124 (28,800 VPD) and is situated in a strong retail corridor near other national/credit tenants that include Walmart Supercenter, Sam’s Club, The Home Depot, Lowe’s, Best Buy, Hobby Lobby, AMC Theatres, ALDI, DSW, Sunglass Hut, Barnes & Noble, Starbucks and more, further increasing consumer traffic and crossover shopping to the trade area. The immediate trade area is supported by an affluent household income of $114,000. The 5-mile trade area is supported by a dense population of approximately 184,000 with an average household income of $79,000.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215