Single Tenant - Planet Fitness
4665 Irving Blvd NW
Albuquerque, NM
Price: $3,292,800
Net Operating Income (NOI): $230,496
CAP Rate: 7%
Rentable Square Feet: 16,464 SF
Land Size: 2.3 Acres
Price/SF: $200
OPPORTUNITY OVERVIEW:
This premium single-tenant Planet Fitness investment offers a reliable income stream with absolute NNN lease terms, ensuring zero landlord responsibilities. Backed by Ignite Fitness Holdings, one of the largest Planet Fitness franchisees with over 130 locations across North America, the tenant recently exercised the first of two 5-year renewal options, demonstrating a strong commitment to the site.
Key Highlights:
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Strategic Location: Positioned at a high-traffic, signalized intersection with over 43,000 VPD (vehicles per day).
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Robust Area Demographics: Surrounded by prominent tenants including Costco, Starbucks, Smith's Grocery, and Lovelace Hospital, ensuring consistent foot traffic.
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Ample Parking: Features over 70 parking spaces to accommodate members and visitors.
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Recent Capital Improvements: A new roof installed in 2019 enhances the asset's value and long-term durability.
Lease Details:
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Current Term Ends: December 31, 2028
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Structure: Absolute NNN (no landlord responsibilities)
This is a prime opportunity to invest in a stable, high-performing asset with a strong national tenant in a thriving commercial area. Don’t miss your chance to secure this high-visibility property with reliable income and long-term growth potential.
