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Listing Fitness 19 Price:$1,300,000 Status:New
* 100% NNN leased to Fitness 19, one of America’ s favorite fitness centers with over 223 locations in 26 states
* Lease is guaranteed by F-19 Holdings, an entity owned by one of the founders of Fitness 19 who operates 25 clubs (17% of all Fitness 19 clubs)
* 100% return of investment within primary term of the lease
* Single-tenant, NNN lease; limited landlord obligations, perfect for passive out of-town, or coupon clipper investors
* Fitness 19 is on a brand new long-term, ten (10) year lease with two (2) five (5) year fair market rent options
* Next rental increase is nearly 10%
* Leasehold ownership permits 100% depreciation, enhancing after-tax cash flow
* Buyer should realize 100% return of investment within 10 years
* High unleveraged IRR of over 14%
* Tenant also reimburses management fee (not modeled) further enhancing yield to owners who self-manage
Full offering memorandum at www.matthewsretailgroup.com |
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