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VASA Fitness – Lafayette, IN

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VASA Fitness – Lafayette, IN

3825 South Street

Lafayette, IN 47905

Price:
$9,478,400
Cap Rate:
7.50%
NOI:
$710,880
Rentable SQFT:
56,565 SF
Year Built:
1995 / 2019
Lot Size:
6.32 Acres
Lease Type:
NN*
Type of Ownership:
Fee Simple
Status:
Under Contract

Investment Highlights

  • High-Value, Low-Price Operator – VASA Fitness is a high-value, low-price operator of fitness clubs and is among one of the top 20 largest health club operators in the country. VASA offers its more than 400k members in 45 operating locations an incredible value proposition with large, full-service clubs for as low as $9.99 a month, and offers top-of-the-line equipment, exercise machines, free-weights and a wide variety of group fitness classes and amenities to help members customize their personal fitness plans. 
  • This location performs in the top 97% of health clubs nationwide according to Placer.AI rankings data. 
  • Brand New, 15-Year Lease – Tenant recently executed a new 15-year lease with structured increases every 5 years. VASA’s willingness to execute a new long-term lease demonstrates a strong commitment to this site and the growing area of Lafayette. 
  • Affluent College Town – West Lafayette, on the other side of the Wabash River, is home to the prestigious Purdue University, which contributes significantly to both communities. The university and its associated businesses employ over 16,900 faculty and staff, with over 44,500 students enrolled.
  • Amazon-Proof, Internet-Resistant Tenant – Fitness concepts are much more resistant to the internet than other retailers, and fitness and health clubs have grown to be more than a $32-billion-a-year industry with more than 40,000 clubs across the US boasting more than 62.4 million members.

 

*Subject to parceling, which could take up to 90 days.

**20 Year Transferable Roof Warranty

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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 »

Josh Caruana

Broker of Record

License: RB14034355