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Mesa Rim Climbing & Fitness

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Mesa Rim Climbing & Fitness

970 Harvard Way

Reno, NV 89502

Price:
$7,250,000
Cap Rate:
6.21%
NOI:
$450,000
Rentable SQFT:
24,133 SF
Year Built:
2017
Lot Size:
2.01 Acres
Lease Type:
Absolute NNN
Type of Ownership:
Sale-Leaseback
Status:
Available

Investment Highlights

  • 20-Year, Absolute NNN Lease
  • Structured Rent Increases – 10% Every Five Years
  • 250% Revenue Growth The First Year Of Operation: 2017-2018
  • Corporate & Income Tax-Free State

Marcus & Millichap is pleased to present this rare opportunity to purchase a 20-year NNN sale-leaseback with Mesa Rim Climbing & Fitness located in Reno, Nevada. The offering is a freestanding 24,113-square foot state-of-the-art facility sitting on 2.01 acres offering an abundant amount of parking. This strategic location is in a busy retail corridor that experiences more than 165,403 vehicles per day on surrounding roads including Interstate 580, and it is also within close proximity to the Reno-Tahoe International Airport. The employees of the airport as well as the almost 11,000 travelers that come through the airport on a daily basis increase the amount of traffic to the gym. The area is also home to numerous national retailers including Costco, REI, CVS, Smart & Final, Dollar Tree, Walgreens, Ashley Homestore, AutoZone, McDonalds, Jack in the Box, and Outback Steakhouse, among others.

With a population of over 235,000, Reno, Nevada is the largest city in Northern Nevada. It is located in the southern part of Washoe County, nestled on the eastern slope of the Sierra Nevada Mountains in an area called the Truckee Meadows. Reno has been nicknamed “The Biggest Little City in the World” and it’s true. Reno’s economy is principally based in the trade and service sector, with approximately 65% of the work force employed in these occupations. Nevada has no corporate or personal income tax and is a right-to-work state. These factors have contributed to the State’s tremendous growth in the 1990’s and into the 2000’s. In 2005, Inc. magazine named Reno No. 1 on its list of the “Best Places to Do Business in America,” based on job growth figures among 274 metropolitan areas.

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    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:

Todd Manning

Broker of Record

B.1001879.CORP