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Crunch Fitness

1332 South Pleasantburg Drive, Greenville, SC 29605

$6,500,000

Cap Rate 7.24%

DOM: 657 Updated: 08.06.24 Posted: 07.21.23 Status: Active

Summary

Price $6,500,000
Built/Renov 2006/2022
Tenant Crunch Fitness
Cap Rate 7.24%
Lease Type NN+
Guarantor Franchisee
Size/SF 38,003
Lease Start 06-01-2026
#Units 10
Price/SF $171.04
Expiration 06-01-2041
Tenant Type Sport/Fitness
NOI $470,892
R. Term 16.0
Ownership Fee Simple
Rent/SF $12.39
Increases 1.3%/1/yrs
Pop 5Mi 136,548
Lot/AC 3.72
Options 2/5yrs
AHHI 5Mi $94,168

Patrick Luther
SRS National Net Lease Group
Contact

Matthew Mousavi
SRS National Net Lease Group
Contact

Lease Highlights

  • Crunch Fitness currently occupies the building as a subtenant and recently executed a brand new 15-year lease
  • Food Lion, LLC, under its current master lease, will continue to pay $38,241/ month in rent until Crunch Fitness’ rent commencement date in June 2026, bringing the total term remaining to 18 years
  • The Crunch Fitness lease features 1.25% annual rental increases throughout the initial term
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Personal guarantee by UFI-Greenville Pleasant, LLC (10-Units)

Location Description

This newly renovated 38,003 square foot Crunch Fitness is located at the signalized, hard corner intersection of South Pleasantburg Drive (State Hwy 291) and Frontage Road seeing over 22,000 vehicles per day. The site benefits from direct on/off ramp access to Interstate 85, a major commuter and retail thoroughfare serving the Spartanburg MSA averaging 117,100 vehicles per day. In addition,...

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Key Features

  • Recent renovation

  • Freeway close

  • Highway location

  • Strong tenant synergy

  • Dense 100M+ pop 5 mi

  • Major MSA

  • Long 15+ yr lease

  • Favorable NN+ lease

  • Annual rent increases

  • Personal guarantee

    • ...

Links

Crunch Fitness Wikipedia Crunch Fitness Wikipedia Greenville, South Carolina Zip Code 29605 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Crunch Fitness is an American brand of fitness clubs that focuses on positivity, inclusivity and fun. The chain offers top-quality cardio and strength training equipment, a dedicated group fitness...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,101 51,015 147,506
2023 Total Population : 6,022 49,020 139,966
2023 Employed Civilian Pop : 2,585 22,630 68,408
2023 Total Businesses : 193 2,176 8,882
2023 Average Household Income : $ 98,230 $ 110,085 $ 96,781
2023 Total Consumer Spending : $ 211 M $ 2020 M $ 5155 M
2023 Median Age : 41 40 38
2023 Total Households : 2,465 21,107 60,960
2023 Pop Age 25+: Bachelor's Degree : 861 9,466 25,363
2023 Average Home Value : $ 358,709 $ 425,757 $ 346,855
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
I 85 S Pleasantburg Dr 2021 90,500 0.39 mi
Potomac Avenue Monteith Cir 2021 5,300 0.45 mi
Phoenix Ave Prancer Ave 2010 475 0.55 mi
Deoyley Ave Old Augusta Rd 2019 1,450 0.57 mi
DeOyley Avenue Long Hill St 2021 1,400 0.58 mi
Mauldin Road I- 85 2019 29,400 0.64 mi
Mauldin Road Parkins Mill Rd 2021 26,900 0.66 mi
Augusta Street Douglas Dr 2021 21,400 0.66 mi
Long Hill Street Gatling Ave 2021 175 0.76 mi
Panama Ave Pacific Ave 2003 425 0.77 mi

Listing Broker

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