294 Highland Ave - Health Club FOR SALE


Battle Creek, MI 49015
$5,297,982 USD
203-887-8797
294 Highland Ave, Battle Creek, MI for Sale
$5,297,982 USD
Health Club - FOR SALE
1/2
null | 7.5% Cap Rate

294 Highland Ave
Battle Creek, MI 49015


HIGHLIGHTS

  • Long-Term Leases | Planet Fitness and The Salvation Army are both subject to long-term leases
  • Planet Fitness has recently entered into a new 10-year lease, while The Salvation Army still has over 4.5 yrs remaining on a recent 7-yr lease ext
  • Favorable Rental Increases | The Planet Fitness lease includes a 7.44% rental increase after 5 years, along with two 5-year renewal options
  • Top Performing Planet Fitness Location | This Planet Fitness location is among the topperforming locations nationwide

OVERVIEW

NNN Pro is pleased to present the exclusive listing for a Planet Fitness and Salvation Army property located at 294 Highland Avenue, Battle Creek, MI 49015. The site consists of roughly 49,764 rentable square feet of building space on an estimated 5.67-acre parcel of land. Planet Fitness recently extended its initial 10-year lease by another 10 years, which expires April 30, 2035. The Salvation Army is in its 7-year extension, which expires November 30, 2029. The average weighted lease term is 7.89 years., and the current annual NOI is $397,349.

FOR SALE DETAILS

PRICE

$5,297,982 USD

PRICE/SF

$106 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Planet Fitness | Salvation Army

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Health Club

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

CROSS STREETS

Columbia Ave

LAND ACRES

5.67 AC

LAND SF

246,985 SF

ZONING

Commercial

APN/PARCEL ID

0614-28-739-0

ASK ABOUT THIS PROPERTY

Anthony D'AmbrosiaNNN Pro GroupMore Info
203-887-8797

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Anthony D'AmbrosiaNNN Pro GroupMore Info
203-887-8797

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.