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CRUNCH FITNESSAMARILLO, TX
SUBJECT PROPERTY
CRUNCH FITNESS
6.50%CAP
$5,657,142PRICE
LEASEABLE SF26,727 SF
LAND AREA2.92 Acres
LEASE TYPENN
LEASE EXPIRATION9/30/2027
YEAR BUILT2000
PARKING173 Spaces
2020 S GEORGIA ST, AMARILLO, TX, 79109
10-year lease with rental increases every five years in base term and option periods
Excellent visibility from I-40 with 81,000+ traffic counts
Household incomes in Amarillo are 12% higher than the rest of Texas
Fitness center concept is internet-resistant and growing in popularity
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.SUBJECT PROPERTY 2
Overview
THE SUBJECT PROPERTY is a 10-year Crunch Fitness lease with rental escalations in the base term and the two 5-year option periods. The property is strategically located on the corner of Georgia Street and Wolflin Avenue which have combined traffic counts of over 42,500 VPD. The Crunch Fitness is also right off Amarillo’s main arterial, Interstate 40, that connects Albuquerque and Oklahoma City, and sees traffic counts of 81,000 VPD.
Amarillo is the principal city of the Amarillo Metropolitan Statistical Area. More than 10,000 businesses have operations in Amarillo, with the focus being on manufacturing, distribution, retail, healthcare and social service sectors, with growing sectors in the energy and aviation industries. These industries create a strong local economy where median household incomes are 16% higher than the rest of the U.S. and 12% higher than the rest of Texas.
THE RETAIL MARKET - There are a number of other major retailers in the area including Michaels, Petco, Burlington, Church’s Chicken, Five Guys, Starbucks, and a variety of others.
Contact the team
CRUNCH FITNESS HAS OVER 1,000,000 MEMBERS THROUGHOUT THE U.S.
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
RICK [email protected]: 415.274.2709CA BRE# 01440360
SUBJECT PROPERTY
IN CONJUNCTION WITH TX LICENSED BROKER: Peter EllisPH: 210.325.7578 [email protected]
3
Investment Highlights
40
40
40
27
27
40
40
40W AMARILLO BOULEVARD
WOLFLIN AVENUE
GEO
RGIA
ST
REET
SG
EORG
IA
STRE
ET S
S W
ASH
ING
TON
STR
EET
HIGH SCHOOL
ASCENSION ACADEMY
MIDDLE SCHOOL
ELEMENTARY
SCHOOL
AMARILLO COUNTRY
CLUB
AMARILLO VA HEALTHCARE
SYSTEM
TEXAS TECH UNIVERSITY
HEALTH SCIENCES
NORTHWEST TEXAS
HEALTHCARE SYSTEM
AMARILLO COLLEGE
AMARILLO COLLEGE
WEST CAMPUS
PLUM CREEK SPECIALTY HOSPITAL
BAPTIST SAINT
ANTHONY HOSPITAL
96,000VPD
50,060 VPD
19,790 VPD35,900
VPD
64,000 VPD
DALLAS
4
Aerial
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
ELEMENTARY
SCHOOL
ELEMENTARY
SCHOOL
ELEMENTARY
SCHOOL
ELEMENTARY
SCHOOL
ELEMENTARY
SCHOOL
MIDDLE SCHOOL
ELEMENTARY
SCHOOL
ELEMENTARY
SCHOOLELEMENTARY
SCHOOLELEMENTARY
SCHOOL
MIDDLE SCHOOL
HIGH SCHOOL
REPRESENTATIVE PHOTOREPRESENTATIVE PHOTOREPRESENTATIVE PHOTO
StarbucksBurger KingTexas RoadhouseChurch’s ChickenWells Fargo BankDomino’s PizzaGet Fit
Texas TeaRent-A-CenterDenny’sThe Spotted ZebraFive GuysSpring StoreGNC
Office DepotGreat ClipsSweet CreationsPopeyesGold’s GymHertzMattress Express
BUSINESS SUMMARY
KEY 1-MILE 3-MILES 5-MILES
TOTAL 1-MILE 3-MILES 5-MILES
Businesses 1,206 5,108 7,698
Employees 10,197 58,708 91,835
Residential Population 12,517 94,340 177,065
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
Submarket Overview REPRESENTATIVE PHOTO
5
RETAILERS IN CLOSE PROXIMITY INCLUDE:
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
PRICE $5,657,142
Price Per Square Foot: $211.66
Capitalization Rate: 6.50%
Total Rentable Area of Land (SF): 26,727
Lot Size (AC): 2.96
STABILIZED INCOME PER SQUARE FOOTScheduled Rent $13.76 $367,714
Effective Gross Income $13.76 $367,714
LESS PER SQUARE FOOTTaxes NNN $0.00
Insurance NNN $0.00
Total Operating Expenses NNN $0.00
EQUALS NET OPERATING INCOME $367,714
SUBJECT PROPERTY
6
Income & Expense
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
TENANT INFO LEASE TERMS RENT SUMMARYTENANT NAME SQ. FT. CURRENT
RENTMONTHLY
RENTYEARLY
RENTMONTHLY RENT/FT
YEARLYRENT/FT
Crunch Fitness 26,727 10/01/17 09/30/22 $367,714 $30,643 $367,714 $1.15 $13.76
10/01/22 09/30/27 $32,852 $394,223 $1.23 $14.75
Option 1 10/01/27 09/30/32 $36,137 $433,646 $1.35 $16.23
Option 2 10/01/32 09/30/37 $39,751 $477,010 $1.49 $17.85
TOTALS: 26,727 $367,714 $30,643 $367,714 $1.15 $13.76
7
Rent Roll
WOLFLIN AVENUE
WOLFLIN AVENUE
STANLEY STREET
GEO
RGIA
STR
EET
S
GEO
RGIA
STR
EET
S BLA
CKB
URN
STR
EET
NOT A PART
NOT A PART
PYLON SIGN
40
4096,000
VPD
6,690 VPD
35,900 VPD
DUNIVEN CIRCLE
Site Plan
8This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
173SPACES
26,727RENTABLE SF
2.92ACRES
LOCATIONS IN 24 STATES AND 5 COUNTRIES
250+
Crunch Fitness is has been in operation since 1989, when it first opened in New York City’s East Village. In 2010, Crunch Fitness became a franchising gym and has since grown to over 250 opened locations in 24 states and 5 countries and commitments to open over 600 franchise locations.
Since the beginning, the company has been dedicated to helping members change their lives and reach their individual fitness goals The company has emphasized the importance of inclusion, boasting that fitness is for every shape, size, age, race, gender or fitness level. With convenient club locations, personal training services, innovative group exercise classes, and a variety of strength, cardio, and functional training equipment, Crunch Fitness offers fitness solutions for everyone.
The $25.8 Billion gym and fitness club industry has continued to thrive in the U.S. with over 57 million members nationwide and counting.
ABOUT CRUNCH FITNESS
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
SUBJECT PROPERTY
NUMBER OF MEMBERS1,000,000
9
Tenant Overview
POPULATION
1-MILE 3-MILES 5-MILES
2010 12,171 91,955 168,722
2017 12,517 94,340 177,065
2022 12,793 96,546 183,358
2017 HH INCOME
1-MILE 3-MILES 5-MILES
Average $72,943 $59,227 $67,708
TOP EMPLOYERS
EMPLOYER # OF EMPLOYEES
Amarillo Independent School District 4,282
Tyson Foods, Inc. 3,700
B&W Pantex 3,200
Baptist St. Anthony’s Health Care Systems
2,900
City of Amarillo 1,973
AMARILLO
THE AVERAGE HOUSEHOLD INCOME WITHIN A 1-MILE RADIUS
IS OVER $72K
OKLAHOMA CITY (258 MILES)
This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
DALLAS(362 MILES)
10
Demographics
AMARILLO,TEXAS
AMARILLO, founded in 1887, is located in the northern region of Texas known as the “Texas Panhandle”. The Texas Panhandle is bordered by New Mexico and Oklahoma, granting Amarillo easy access to both states. The city is known as the gateway to the Palo Duro Canyon State Park, a vast trail-lined park with the second largest canyon system in the U.S.
With mostly rural communities populating the Texas Panhandle, Amarillo serves as the hub for medicine, economy, education, and culture. There are several higher education institutions including Amarillo College, Texas Tech University at Amarillo, West Texas A&M University and Wayland Baptist University.
AMARILLO’S IS THE REGIONAL ECONOMIC CENTER for the Texas Panhandle. The economy has long been associated with the agricultural
and energy industries but has since diversifies to include copper refining, fiberglass production, meat packing, ordnance manufacturing, customer service operations, and aircraft assembly operations.
AMARILLO ECONOMY
190,700
AMARILLO POPULATION (ESTIMATED)
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
11
Location Overview
INDIANAPOLIS, INDIANA
We’d love to hear from you.
CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM:
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
JOE CACCAMOJOHN ANDREINI
ZANDY SMITH
DAVE LUCAS
RICK SANNER JACK NAVARRA
CHRIS KOSTANECKIZEB RIPPLE CHRIS PETERS
RICK [email protected]: 415.274.2709CA BRE# 01440360
IN CONJUNCTION WITH TX LICENSED BROKER: Peter EllisPH: [email protected]
SUBJECT PROPERTY
Copyright © 2018 Capital Pacific Partners
SFO. PDX. SEA. CAPITALPACIFIC.COM
SUBJECT PROPERTY
11-2-2015
TYPES OF REAL ESTATE LICENSE HOLDERS: A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Put the interests of the client above all others, including the broker’s own interests; Inform the client of any material information about the property or transaction received by the broker; Answer the client’s questions and present any offer to or counter-offer from the client; and Treat all parties to a real estate transaction honestly and fairly.
A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:
AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.
AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:
Must treat all parties to the transaction impartially and fairly; May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and
buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. Must not, unless specifically authorized in writing to do so by the party, disclose:
ᴑ that the owner will accept a price less than the written asking price;ᴑ that the buyer/tenant will pay a price greater than the price submitted in a written offer; andᴑ any confidential information or any other information that a party specifically instructs the broker in writing not to
disclose, unless required to do so by law.
AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: The broker’s duties and responsibilities to you, and your obligations under the representation agreement. Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.
Information About Brokerage Services Texas law requires all real estate license holders to give the following information about
brokerage services to prospective buyers, tenants, sellers and landlords.
.
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate
License No. Email Phone
Licensed Broker /Broker Firm Name or Primary Assumed Business Name
License No. Email Phone
Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov
IABS 1-0
Date Buyer/Tenant/Seller/Landlord Initials
Sales Agent/Associate’s Name License No. Email Phone