Cap Rate: 7.75%
Net Operating Income: $286,110
Lot Size: 2.91 AC
Year Built: 1980
Subject property is a 42,141 square-foot Gold’s Gym in Amarillo, TX. The NNN lease calls for zero landlord obligations with annual increases in rent and four 5 year options to renew. The lease has a strong personal guarantee. This unit is operated by K/M Amarillo Sports Teams, LLC. This asset is situated in a major retail trade area and surrounded by national retailers including The Home Depot, Chipotle, Whataburger, Popeyes, and many others.
Amarillo is the 14th-most populous city in the state of Texas. It is also the largest city in the Texas Panhandle, and the seat of Potter County. A portion of the city extends into Randall County. The estimated population was 199,826 as of 2017. The Amarillo metropolitan area has an estimated population of 276,020 in four counties as of 2017. The metro population is projected to surpass 310,000 in 2020.