
501 7th Ave
Retail | 8.69% CAP | 5,000 SqFt
Marketing description
Turnkey investment opportunity featuring a regional Anytime Fitness franchisee in a highly visible, high-traffic location. Recently completed a $50,000 interior refresh, demonstrating continued commitment to the space and long-term operation. There are just under 2 years remaining on the current 6-year lease, which includes scheduled rental increases. Tenant is responsible for property taxes, while the landlord covers maintenance and building insurance. The property has been well maintained with significant capital improvements, including a full interior and exterior renovation with an addition in 2017 (new HVAC installed at that time), a new roof in 2020, and new asphalt parking lot in 2022. Strong tenant, solid improvements, and excellent visibility make this a compelling addition to any investment portfolio.
Investment highlights
- NOI - $80,419
- CAP Rate - 8.69%
- Tenant In Place with National Franchise
- Capital Improvements: Renovation and addition with new HVAC (2017), new roof (2020), and new
- asphalt parking lot (2022).
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