Fitness Connection

8428 Denton Highway, Watauga, TX
Deal Type:
Net Lease
Price:
$10,156,000
Cap Rate:
7.75%
Current Rent:
$787,097
Lease Type:
Triple Net
Landlord Responsibilities:
See OM
Renewal Options:
3, 5-Year
Building Sq. Ft.:
61,110 SF
Rent Increases:
5.8% in year 11 of the lease
Site Size:
6.62 Acres

Investment Highlights

  • Fitness Connection has over 10 years remaining on their NNN lease providing ease of ownership. The tenant maintains all aspects of the property, including the building and CAM, as well as paying Taxes, Insurance, and Utilities.
  • Fitness Connection is a leader in the “High Value, Low Price” segment of the fitness industry with over 40 locations across NC, NV, and TX.
  • Watagua boasts average household incomes of $144,000 within a 1 mile radius.
  • Fitness Connection is located at the signalized intersection of Denton Hwy & N Tarrant Pkwy which has a combined traffic count of approximately 63,000 VPD.
  • Planned H-E-B: H-E-B owns the entire land parcel kitty corner to the property with plans to build a grocery store in the future, further bolstering the intersection and trade area.
  • The property is ideally situated in the middle of major national tenants, including The Home Depot, Walmart, Lowe’s, Kroger, and Target. Other national tenants at the intersection include Aldi, Kohl’s, Michael’s, Sprouts Farmers Market, Petco, and many more.
  • Texas is one of seven states that does not impose a state income or investment tax.

Listing Agents

Connor Shell

Managing Director
407 913 9009
[email protected]

Graham Gold

Vice President
314 324 8792
[email protected]
Danny Karbowski Stream Capital Partners

Danny Karbowski

Associate
630 842 1127
[email protected]

Broker of Record: Kyler Bean TX Lic#: 646910

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