1525 Tharpe St Tallahassee, FL 32303

This exceptional investment opportunity presents a fee-simple ownership of a 50,783 square foot Crunch Fitness in Tallahassee, Florida. Located at 1525 W Tharpe St, 32303, this single-tenant, absolute NNN property boasts a strong 6.75% cap rate and a substantial net operating income (NOI) of $590,187. The property sits on an 8-acre lot and benefits from a highly favorable lease with Crunch Fitness, a leading fitness brand, extending until September 30, 2036, with 11.9 years remaining. The lease includes built-in rent bumps of 10% every five years, providing significant long-term growth potential. The tenant, Fitness Ventures, LLC, is the second largest Crunch Fitness operator, further enhancing the investment's stability. The property underwent renovations in 2021 and enjoys 100% occupancy. Its strategic location less than one mile from Florida State University, a major university with nearly 45,000 students, and near significant student housing, ensures a robust and consistent customer base. The lease includes four 5-year renewal options. This offering is ideal for 1031 exchange investors seeking a passive, high-return investment in a thriving market. The property is located in Leon County, Florida, a state with no state income tax.