16207 Detroit Ave Lakewood, OH

This offering presents an opportunity to acquire a single-tenant Planet Fitness property in Lakewood, OH. The 11,325 square foot building is operated by National Fitness Partners, a major Planet Fitness franchisee with over 200 clubs and 2,400 employees. Planet Fitness, a large and rapidly expanding fitness center franchisor and operator, has over 2,700 locations and more than 19.6 million members across the United States. The property benefits from a brand new 12-year absolute NNN lease, accompanied by two 6-year option periods and rent increases. The property is located at the hard corner signalized intersection of Detroit Avenue and Woodward Avenue. Several high schools are located nearby, including Lakewood High School, St Edward High School, and Rocky River High School. The surrounding trade area is densely populated, with over 210,000 residents within a 5-mile radius. The location is near retailers such as Whole Foods, Heinen’s Grocery Store, McDonald’s, Raising Cane’s, Panera Bread, Starbucks, Chipotle, Giant Eagle Supermarket, Chase Bank, and CVS Pharmacy.