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MUV Fitness – Spokane Valley

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MUV Fitness – Spokane Valley

14927 E Sprague Ave

Spokane Valley, WA 99216

Price:
$8,266,500
Cap Rate:
7.50%
NOI:
$620,000
Rentable SQFT:
41,690 SF
Year Built:
2004
Lot Size:
4.67 Acres
Lease Type:
NNN*
Type of Ownership:
Fee Simple
Status:
Available

Investment Highlights

  • Brand New 15 Year Lease
  • 10% Increases Every 5 Years
  • Experienced Operator & Successful Track Record

The NNN Fitness group of Marcus & Millichap is pleased to present this rare opportunity to purchase a MÜV Fitness with a new 15 year lease and 10% increases every 5 years located in Spokane Valley, WA. The offering is a 41,690-square-foot facility positioned on 4.67 acres off the I-90 freeway and Sprague Avenue. This location offers not only state-of-the-art exercise equipment but also a basketball court, racquetball court, jacuzzi and pool, tanning, sauna, childcare, and cycling and group exercise classes. MÜV’s group exercise program offers the widest spectrum of classes ranging from the peacefulness of yoga to the intensity of boot camps. All classes can be taken by beginners and veterans alike. They also have specific training services for individual personal training, small group classes, endurance building classes, strength training, and cardiovascular-focused classes.

The incorporated area of Spokane Valley encompasses approximately 38.5 square miles of land area, with room for residential, commercial and industrial expansion. Within the incorporated city limits, there are about 438 miles of roadway. It has an extensive retail tax base had an estimated taxable retail sales of $567 million in 2018. The city is home to several major auto dealerships and the Spokane Valley Mall, which includes over 700,000 square feet of gross leaseable floor area and is only 1.7 miles from the property.  Other nearby local and national retailers include WalMart, Target, Fedex, Ross, Kohl’s, Fred Meyer, and Safeway.

 

*LL Responsible For Replacement of Roof/Structure/Parking Lot.

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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:

Mark Thiel

Senior Managing Director Investments

858-373-3206

Email & Bio »

Jake Bordelon

Investment Associate

858-373-3133

Email & Bio »

Joel Deis

Broker of Record

License Number: 90758