Health Clubs Offerings
Mesa Rim Climbing & Fitness
970 Harvard Way
Reno, NV 89502
- Cap Rate:
- Rentable SQFT:
- 24,133 SF
- Year Built:
- Lot Size:
- 2.01 Acres
- Lease Type:
- Absolute NNN
- Type of Ownership:
- 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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