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Retro Fitness – Mesquite, TX

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Retro Fitness – Mesquite, TX

2524 N Galloway Ave

Mesquite, TX 75150

Price:
$3,687,400
Cap Rate:
7.50%
NOI:
$276,555
Rentable SQFT:
36,874 SF
Year Built:
1991 / 2022
Lot Size:
4.08 AC
Lease Type:
NN
Type of Ownership:
Fee Simple
Status:
Under Contract

Investment Highlights

  • Growing Regional Fitness Concept
  • Excellent Retail Trade Area
  • Business Friendly Climate
  • Strong Real Estate Fundamentals
  • No State Personal Income Tax

The NNN Fitness Group of Marcus & Millichap is pleased to present the opportunity to acquire a 36,874 square-foot single-tenant Retro Fitness located in Mesquite, TX. The property is leased to Lift RF Texas, LLC with 8 years remaining on a NN lease, featuring structured rent increases and a low rent PSF of $7.50/SF well below market. With its low rent basis, high-traffic location, and proximity to major retailers, this offering provides a compelling investment opportunity in one of the fastest-growing markets in the country.

This investment is further strengthened by the lease being backed by BlackRock, one of the largest and most respected asset managers in the world. The tenant is part of Retro Fitness’s strategic expansion under Project LIFT, an initiative to open 500 clubs in underserved communities, with Lift RF Texas leading the charge across the Dallas-Fort Worth market.

Strategically located in the thriving Dallas–Fort Worth metroplex the 4th largest MSA in the U.S. with a population of 7.9 million the property is surrounded by a dense population of over 279,000 residents within a 5-mile radius. Situated just one mile from Town East Mall, the site benefits from strong visibility and traffic, with nearby national retailers including Macy’s, Dick’s Sporting Goods, Home Depot, and others.

 

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  • Confidentiality and Disclaimer

    The information contained on this website is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from NNN Fitness and distribution to any other person or entity without the express written consent of NNN Fitness is strictly prohibited. This website provides summary, unverified information to prospective purchasers, and has been prepared to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. NNN Fitness has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. NNN Fitness has not made any investigation, and makes no representation or warranty, that the information on this website has not changed since it was originally prepared and posted. The information contained on this website has been obtained from sources we believe to be reliable; however, NNN Fitness has not verified, and will not verify, any of the information contained herein, nor has NNN Fitness conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

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For more information, please contact:

Mark Thiel

Senior Managing Director Investments

858-373-3206

Email & Bio »

Jake Bordelon

Senior Director Investments

858-373-3133

Email & Bio »

Timothy Speck

Broker of Record

License: 9002994