Description
This is an investment property with a 7.0% cap rate without considering the after tax benefits which increases the effective cap rate (to 7.7%). Solid lease with Planet Fitness Franchisee whose lease doesn't expire until 7/31/2027. Will most likely extend and take options. The extension may be negotiated prior to closing if necessary for a longer term, with a possible drop in escalations to entice the tenant to extend. Must sign a Non-Disclosure before Financial Information is provided, as well as pre-qualification financially as a Buyer.Former Staples big box completely renovated in 2017 for the Planet Fitness. Strong business and membership which bodes well for extension beyond the current 5 years.**Street name recently changed to Patriot Hwy.
Description
This is an investment property with a 7.0% cap rate without considering the after tax benefits which increases the effective cap rate (to 7.7%). Solid lease with Planet Fitness Franchisee whose lease doesn't expire until 7/31/2027. Will most likely extend and take options. The extension may be negotiated prior to closing if necessary for a longer term, with a possible drop in escalations to entice the tenant to extend. Must sign a Non-Disclosure before Financial Information is provided, as well as pre-qualification financially as a Buyer.Former Staples big box completely renovated in 2017 for the Planet Fitness. Strong business and membership which bodes well for extension beyond the current 5 years.**Street name recently changed to Patriot Hwy.
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