2340 E State St, Salem, OH 44460

This exceptional investment opportunity presents a fee-simple, 19,002 square foot Planet Fitness located at 2340 E State St, Salem, OH 44460. The property sits on a 3.82-acre lot and boasts a strong 12-year NNN lease with a prominent national tenant, Planet Fitness (NYSE: PLNT). Built in 2023, this single-tenant building enjoys 100% occupancy and a current NOI of $95,010, representing a 7.00% cap rate and an asking price of $1,357,285.71. The lease includes a significant 20% rent escalation in year seven, providing substantial upside potential. This strategically located property benefits from high traffic counts in Salem's shopping district, situated on the major thoroughfare, E State Street, and surrounded by numerous national retailers including The Home Depot, Tractor Supply, Walmart, Giant Eagle, Aldi, Advance Auto Parts, Dollar Tree, Walgreens, Starbucks, McDonald's, and Marc's. The property's strong tenant, robust lease terms, and prime location make this an attractive investment opportunity with significant long-term growth prospects. The APN is 51-05921-001. The lease commenced on September 25, 2024, and has 12 years remaining.