For Sale
$6,000,000

2182 Cherry RdRock Hill, SC 29732

High-Yield SC Fitness Center

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple ownership of a 32,000 square foot Gold's Gym in Rock Hill, South Carolina. The property boasts a strong 14.7-year remaining lease term (with two 5-year options) to Rock Hill Fitness Group, Inc., operating as Gold's Gym, featuring 1.25% annual rent bumps. The Net Net (NN) lease structure minimizes landlord responsibilities, limited to roof and structure maintenance. The property, built in 2009 and renovated in 2015, sits on a 4.1-acre lot in a high-traffic location on Cherry Road (41,200 vehicles per day), an outparcel to a Publix-anchored shopping center with other national retailers. Its strategic location near Interstate-77 (90,200 VPD) provides excellent accessibility. The 5-mile trade area demonstrates robust demographics, including over 115,900 residents and 53,500 employees, with an average household income exceeding $104,272. The lease is further secured by multiple guarantors, providing enhanced financial stability. The property's current Net Operating Income (NOI) is $398,581, yielding a 6.64% capitalization rate. The asking price is $6,000,000, translating to $187.50 per square foot. The property is zoned for commercial use and has an APN of 634-07-01-063. This investment offers a compelling combination of strong tenant occupancy (100%), a long-term lease, built-in rent growth, and a prime location within a thriving retail corridor.

Highlights

  • Brand new 15-year lease with extension options and multiple guarantors.
  • Net-leased fee simple ownership with minimal landlord responsibilities.
  • Outparcel in a Publix-anchored center, located on Interstate 77, a major retail thoroughfare.
  • Strong demographics within a 5-mile radius.

Property Details for 2182 Cherry Rd

Property type
Specialty properties
Square Feet
32,000 SF
Year Built/Renovated
2009/2015
Lot Size (sq. ft)
178,596 SF

Location Insight

City
Rock Hill
County
York
State
South Carolina
Latitude
34.9624804
Longitude
-80.9968529
2182 Cherry Rd, Rock Hill, South Carolina

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2182 Cherry Rd
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