Healthtrax - Bristol, CT
Special Purpose | 6.75% CAP | 52,392 SqFt
Marketing description
Atlantic Capital Partners has been exclusively engaged to offer for sale Healthtrax - Bristol, CT, a 52,392-square-foot single-tenant net lease investment located at 842 Clark Avenue in Bristol, Connecticut. The property is leased to Healthtrax under a newly executed 15-year Absolute NNN lease, providing investors with passive, management-free income through September 2040. The lease features fixed 2% annual rental increases and exceptionally low occupancy costs of approximately $3.12 per square foot, creating a highly sustainable rent profile and durable long-term cash flow.
Healthtrax has successfully operated from this location for years prior to executing its new long-term lease, demonstrating a proven operating history and long-term commitment to the site. The lease is further strengthened by a triple guaranty and cross-defaulted with two additional Healthtrax locations in Enfield, CT and West Springfield, MA, providing investors with additional credit support beyond the subject property.
Offered at approximately $46 per square foot, the investment presents an attractive basis that is significantly below replacement cost for a modern fitness facility of this scale. Strategically positioned within the Hartford MSA, the property benefits from a dense and affluent trade area supported by major employers including ESPN, Bristol Hospital, Barnes Group, and a diverse mix of retail, healthcare, and educational institutions. The combination of a below-market acquisition basis, sustainable rent, and long-term lease structure creates a compelling opportunity for private investors seeking durable income with meaningful downside protection.
Investment highlights
ATTRACTIVE $46/SF ACQUISITION BASIS WELL BELOW REPLACEMENT COST - The offering is available at approximately $46 per square foot - a significant discount to replacement cost for a 52,392-square-foot institutional-quality fitness facility, providing investors with meaningful downside protection and long-term real estate value.
ESTABLISHED TENANCY - LONG OPERATING HISTORY & STRONG REGIONAL FOOTPRINT - Healthtrax features 15 locations across 6 states (CT, MA, RI, NJ, NY, NC) and has nearly 50 years of continuous operating history since its founding in 1979.
NEWLY EXECUTED 15-YEAR ABSOLUTE NNN LEASE EXTENSION - With decades of operation at this facility, Healthtrax recently executed a new 15-year master lease at the site, extending through 2040 and showing their long-term commitment to the location.
CORPORATE & PERSONAL GUARANTEES - The lease is backed by both a corporate guarantee & a personal guarantee from the CEO, providing investors with enhanced credit support from the operator.
PROVEN OPERATING LOCATION - Healthtrax has successfully operated from this location for years prior to executing its new long-term lease, demonstrating an established membership base and long-term commitment to the Bristol market.
EXCEPTIONALLY LOW RENT SUPPORTS LONG-TERM TENANT VIABILITY - Healthtrax occupies the property at an effective rental rate of approximately $3.12 per square foot, creating a highly sustainable occupancy cost that significantly enhances the likelihood of long-term lease performance and renewal.
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