Retail•Free Standing Building•For Sale

Planet Fitness

1341 S Watson Road, Buckeye, Arizona 85326

Sale Price $4,400,000
Sale Type Net Lease Investment
Zoning PC
Bldg Type Multi-Tenant
Year Built 2019
Cap Rate 6.02%
Vacancy 100%
Gross Bldg 20,091 SqFt
Land Area 4.72 Acres
Net Op Inc $265,092
Market Phoenix Metro - West Valley
Sub-Market Buckeye Trade Area
New build investment available within high growth area, surrounded by national chains. The main tenant, United PF Partners, is the largest Planet Fitness franchisee group with 150+ locations across 14 states. United PF has development rights to continue expanding throughout the Midwest, South, Mid-Atlantic, and Southwest regions. Buckeye is 30 miles west of Phoenix, located at the edge of the metro area and south of White Tank Mountain Regional Park. Today, Buckeye is one of the fastest growing cities in the state and has become an important center in Arizona for industry, business, and commerce. The City of Buckeye continues to see explosive new residential activity. There are 30+ active residential developments in the pipeline right now, which will result in over 21,000+ new single-family residential lots to be constructed in the coming years.
  • 15 Year lease with Planet Fitness (multiple renewal options).
  • 5 year lease with Water Mill (multiple renewal options).
  • Regular rent increase intervals.
  • 6.40% CAP rate average including property management income.
  • Tenant is the Largest Planet Fitness Franchisee – Operates 150+ Locations Across 14 States.
  • New Aldi's Foods is being built right next door.
  • Located in Buckeye's Dominant Retail Corridor – Walmart Supercenter, Fry's Marketplace, Lowes, PetSmart, Dollar Tree.
  • 55,130 Residents in Growing Buckeye Trade Area – Projected to Increase 34%+ in Immediate Area by 2023.
10/23/2019 5:30:50 PM 2/14/2020 1:05:40 AM
Tom Kolb
Commercial Director, Associate Broker
KW Commercial | Phoenix Anthem
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