DENVER, CO – [May 23, 2025] – Blue West Capital is pleased to announce the successful sale of a single-tenant net-leased Planet Fitness located at 5094 Alexander Dr S, Fargo, ND 58107. The property sold for $6,148,952 at a 6.68% cap rate —the lowest cap rate recorded for a Planet Fitness nationally since 2023, according to CoStar. Carly Gallagher Kelly, Director at Blue West Capital, represented the seller in the transaction. The buyer, a national real estate investment trust (REIT), acquired the asset on an all-cash basis and was not involved in a 1031 exchange.
The newly constructed, flagship location is operated by one of Planet Fitness's largest and most successful franchisees, with 119 locations across 10 states. Planet Fitness, one of the fastest-growing fitness brands in the country, boasts approximately 19.7 million members and more than 2,600 locations nationwide.
Within the first week of marketing, we secured an LOI from a qualified, all-cash buyer. This transaction underscores the strong demand for high-quality net-leased fitness assets operated by proven franchisees. We were pleased to facilitate a smooth closing between two well-qualified parties.
Carly Gallagher Kelly, Director
PR Contact
Carly Gallagher Kelly
(720) 828-6290
Carly@BlueWestCapital.com
Be the first to know about new investment properties.
Subscribe to our mailing list
