STNL Planet Fitness (SLB) in Fargo, ND
Blue West Capital is pleased to exclusively offer for sale a STNL Planet Fitness located in Fargo, North Dakota. This brand-new, flagship location is operated by Baseline Fitness LLC, one of the largest and most successful Planet Fitness operators, with 119 locations across 10 states. Situated on a 3.09-acre parcel, the offering includes a 31,000-square-foot building, 100% leased to Planet Fitness on a long-term lease.
Planet Fitness will operate on a 15-year absolute NNN lease with below market rents, providing zero landlord responsibilities. The lease will feature 10% rental increases every five years throughout the primary term and renewal options, offering an investor a stabilized and accretive cash flow stream. As one of the fastest-growing fitness brands in the U.S., Planet Fitness has approximately 19.7 million members and over 2,600 locations nationwide.
The property is situated in Fargo, North Dakota, the fastest growing city in the state with a metro population exceeding 250,000 and a projected 35% growth over the next decade. The property features high-visibility with its location along 52nd Ave S (23,780 VPD) and I-29 (32,100 VPD), combined with its proximity to major retailers, making it a prime investment opportunity.
