1620 Sentinel Dr - Health Club FOR SALE


Chesapeake, VA 23320
$7,000,000 USD
757-816-0182
1620 Sentinel Dr, Chesapeake, VA for Sale
$7,000,000 USD
Health Club - FOR SALE
1/3
null | 6.56% Cap Rate

1620 Sentinel Dr
Chesapeake, VA 23320


OVERVIEW

Introducing PLANET FITNESS 1620 SENTINEL DR, CHESAPEAKE, VA 23320, a prime investment opportunity in the Chesapeake, VA MSA. This 120,102 sqft property features a 24,700 sqft structure built in 2017 as an outparcel to the Greenbrier Square Shopping Center. With prominent visibility from N. Battlefield Blvd and I-64 with traffic of 112,000 VPD, this location boasts a strong retail draw including Kroger Marketplace and other national brands. Offered at $7,000,000, the property is secured by a 15-year absolute net lease with Excel Fitness, the largest Planet Fitness operator with 140+ locations and over 1,000,000 members. The lease, guaranteed by Excel Fitness Holdings, includes two 5-year renewal options and offers a net operating income of $459,000 in 2024. Excel Fitness' strong presence and performance make this a top-notch investment with guaranteed returns in a high-traffic, high-visibility location. Don't miss this opportunity to own a piece of a thriving commercial center.

FOR SALE DETAILS

PRICE

$7,000,000 USD

PRICE/SF

$283 USD /SF

CAP RATE

6.56%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Health Club

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

118

LAND DETAILS

LAND ACRES

2.55 AC

LAND SF

111,078 SF

ZONING

B3

APN/PARCEL ID

0270000001590

ASK ABOUT THIS PROPERTY

J.C. WynkoopWynkoop RealtyMore Info
757-816-0182

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J.C. WynkoopWynkoop RealtyMore Info
757-816-0182

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.