Planet Fitness | 2515 W Pierce St
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Planet Fitness 2515 W Pierce St
15,027 SF Retail Building Carlsbad, NM 88220 £4,278,172 (£285/SF) 6.75% Net Initial Yield
Investment Highlights
- New Long-Term 15-Year Net Lease to Established Planet Fitness Franchisee
- 10% Rent Increases Every 5 Years
- Prominent Retail Location Adjacent to Carlsbad Medical Center, Southeast New Mexico College & Carlsbad Mall
- Subsidiary of ECP-PF Holdings Group, Inc., the 2nd Largest Planet Fitness Franchisee that was Acquired by TowerBrook Capital Partners L.P. in 2021
- 2023 Construction with Modern Materials and Finishes
- Average Household Income of $115,749 within 1 Mile of Site
Executive Summary
The subject property is prominently located along West Pierce Street/US-285 (18,452 AADT) at the entrance to Lowe’s Home Improvement and Southwest New Mexico College. The property benefits from robust demographics in the surrounding area with average household income of $115,749 within 1 Mile of the site.
The property benefits from a prominent retail location in close proximity to Carlsbad Medical Center, the Carlsbad Mall as well as other major retail tenants, schools, and employers. It is located in front of Southwest New Mexico College with a built-in customer base of college students, and is across the street from Carlsbad Medical Center, employing close to 500 people and servicing over 1,845 patients.
Carlsbad (population 31,888) is located in the Chihuahuan Desert along the Pecos River and is a city in and the county seat of Eddy County, New Mexico. According to the most recent U.S. Census tallies, Eddy County was the fastest growing area of the state over the last ten years.
In Association with Scott Reid & ParaSell, Inc. | P: 949.942.6578 | A Licensed New Mexico Broker #9736
The property benefits from a prominent retail location in close proximity to Carlsbad Medical Center, the Carlsbad Mall as well as other major retail tenants, schools, and employers. It is located in front of Southwest New Mexico College with a built-in customer base of college students, and is across the street from Carlsbad Medical Center, employing close to 500 people and servicing over 1,845 patients.
Carlsbad (population 31,888) is located in the Chihuahuan Desert along the Pecos River and is a city in and the county seat of Eddy County, New Mexico. According to the most recent U.S. Census tallies, Eddy County was the fastest growing area of the state over the last ten years.
In Association with Scott Reid & ParaSell, Inc. | P: 949.942.6578 | A Licensed New Mexico Broker #9736
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
15,027 SF
Building Class
B
Year Built
2023
Price
£4,278,172
Price Per SF
£285
Net Initial Yield
6.75%
NOI
£288,790
Tenancy
Single
Number of Floors
1
Building FAR
0.03
Land Acres
11.55 AC
Parking
85 Spaces
Frontage
98 ft on West Pierce Street
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £1,748,066 | |
| Land Assessment | £98,887 | Total Assessment | £1,846,952 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£98,887
Improvements Assessment
£1,748,066
Total Assessment
£1,846,952
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Planet Fitness | 2515 W Pierce St
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