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17501805
17501806

4106 S Western Ave, Oklahoma City, OK 73109

MT
CA 01469342
Marcus & Millichap - San Diego
JB
CA 02048307
Marcus & Millichap - San Diego
Listed by Marcus & Millichap - San Diego
$8,320,786
763 days on market
Updated 22 days ago

Vasa Fitness | 7.25% Cap | $8.32M | 10+ Yr Lease Term

Details
Property Type Retail
Sub Type fitness, freestanding (+1)
Square Footage 50,326
Cap Rate 7.25%
NOI $603,257
Tenancy Single
Brand/Tenant Vasa Fitness
Lease Type NN
Lease Options 3 (5) Year Options
Price per SqFt $165
Year Built 2019
Buildings 1
Stories 1
Acreage 6.490
Investment Type Net Lease
Ownership Fee Simple

Vasa Fitness | 7.25% Cap | $8.32M | 10+ Yr Lease Term | 2019 Prototype | Oklahoma City, OK

Marketing description

The NNN Fitness Group of Marcus & Millichap is pleased to present a single-tenant prototype VASA Fitness in Oklahoma City, OK. The lease term features over 10 years remaining with (3) 5-year options to renew. This location has tremendous foot traffic; top 6% of health clubs nationwide and ranks as the #7 fitness center in Oklahoma City MSA, according to Placer.ai foot traffic. VASA Fitness is prominently located across the street from the 31-acre INTEGRIS Southwest Medical Center and adjacent to the #1 Walmart Neighborhood Market in the state of Oklahoma, at the excellent intersection of S Western Ave and SW 44th St with a combined VPD of 33,550.

VASA Fitness brand dominates Oklahoma City with 1.37 million annual customer visits to the two highest-grossing gyms in the market. Southern Oklahoma City provides an incredibly captive customer base for the Property as there is no other +25,000-SF health club that is located within 5 miles of the Property, south of Oklahoma River. Oklahoma City is a growing city with an excellent rating, Moody’s ranking of Aaa, reflecting the city’s large and stable economy.


Investment highlights

  • Dominant Market Share Between Two OKC Locations

  • Strategic Store Spacing for Market Coverage

  • Low Rent & Below Replacement Value

  • A Major Medical Campus Complements VASA

  • #1 Walmart Neighborhood Market in OKC Evidences the Excellent Intersection

  • Growing City, Low Cost of Living & Excellent Rating

Listing Contacts

MT
CA 01469342
Marcus & Millichap - San Diego
JB
CA 02048307
Marcus & Millichap - San Diego
Listed by Marcus & Millichap - San Diego

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$603,257.00
$50,271.42/mo

Valuation Metrics

0
DSCR
7.25%
Cap Rate
7.25%
ROI

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Additional Information

Name
Tim Speck
License
OK 149994
Brokerage
Marcus & Millichap
Title
Broker of Record
Brokerage Address
5001 Spring Valley Rd., Ste. 1100 W Dallas, TX 75244
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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