5218 S Florida Ave S - Health Club FOR SALE


Lakeland, FL 33813- Southwest Polk
$6,988,000 USD
760-448-2449
5218 S Florida Ave S, Lakeland, FL for Sale
$6,988,000 USD
Health Club - FOR SALE
1/13
null | 6.35% Cap Rate

5218 S Florida Ave S
Lakeland, FL 33813
Southwest Polk


HIGHLIGHTS

  • Strong Brand Recognition with Rapid Expansion – Largest Crunch Fitness Franchisee Guaranty – 70+ Locations in 5 States
  • 10+ Years Remaining on an Absolute NNN Lease – 10% Rent Increases – Build-to-Suit Location
  • Located along Major Retail Hub in Lakeland – Surrounded by National Tenants – Limited National Gym Competition
  • Florida Ave South is a Major Thoroughfare in Lakeland – Strong Traffic Counts (43,000 VPD) – Proximity to I-4 Corridor
  • Lakeland is One of the Fastest-Growing Cities in the U.S. – Strategically Located Between Tampa and Orlando – Florida is an Income Tax-Free State

OVERVIEW

Lee & Associates, in conjunction with Bang Realty–Naples, Inc. (FL Broker’s License: BK3327646), is pleased to offer the fee simple interest in a build-to-suit Crunch Fitness property located at 5218 S Florida Ave in Lakeland, FL 33813. Constructed in 2020, the single-tenant retail building comprises 18,000 square feet on a 3.17-acre site. The property is leased to Crunch Fitness, operated and guaranteed by CR Fitness Holdings, LLC—the largest Crunch franchisee with over 70 locations across five states. Crunch Fitness boasts more than 500 locations worldwide and a membership base exceeding 3 million. The lease commenced on July 18, 2020, and provides 15 years of initial term with over 10 years remaining, 10% rent increases every five years, and three additional five-year renewal options. Strategically positioned along the Florida Avenue South retail corridor, the property benefits from daily traffic counts of over 43,000 vehicles and direct access to the Interstate 4 corridor, connecting Lakeland to Tampa (38 miles) and Orlando (62 miles). Within a three-mile radius there are nearly 59,000 residents and an average household income of $129,547. Lakeland—home to Publix Super Markets’ corporate headquarters and part of one of Florida’s fastest-growing MSAs—continues to experience robust population and economic growth, underscoring the strength and stability of this investment.

FOR SALE DETAILS

PRICE

$6,988,000 USD

PRICE/SF

$388 USD /SF

CAP RATE

6.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Crunch Fitness

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Health Club

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

150

LAND DETAILS

LAND ACRES

3.21 AC

LAND SF

139,828 SF

ZONING

C-4

APN/PARCEL ID

23-29-12-000000-024140

ASK ABOUT THIS PROPERTY

Ryan BennettLee & AssociatesMore Info
760-448-2449

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Ryan BennettLee & AssociatesMore Info
760-448-2449

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