Property Profile.
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Operator is the #1 Anytime Fitness franchisee.
Bandon Fitness operates 250+ locations and 140,000+ members — recently acquired by Sentinel Capital Partners, one of the most experienced franchising PE investors in the U.S.
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Parent company runs $33.9M in EBITDA.
Bandon Fitness posted $118M in 2024 sales on $33.9M EBITDA — an institutional-grade guarantor behind a $105,600 rent.
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Long-term, secure lease.
12 years remaining on a 15-year absolute net lease. Low landlord responsibilities — stable, hands-off income, fully occupied.
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10% rent bumps every 5 years — next Oct 2027.
Rent steps from $105,600 to $116,160 in late 2027, then $127,776 in 2032 — contractual hedge against inflation, not market-dependent.
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$88K median income in the 5-mile radius.
~15,000 residents in the 5-mile trade area with a median HH income of $88,373 — well above the Iberville Parish average.
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Surrounded by national retailers.
Within a 1-mile radius: Regions Bank, CVS, Subway, Little Caesars, Family Dollar, O'Reilly, AutoZone, Tower Loan, Bealls, and Eatel.
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Open and stabilized in 2022.
Opened post-2022 renovation and is a market driver with an estimated $2.6M in annual store sales — performance is proven, not projected.
Property Profile.
Location & Area Profile.
Address
58010 Main Street · Plaquemine, LA 25 min to Baton Rouge
| 5-Mile Pop. | ~15,000 |
|---|---|
| 5-Mile Median HHI | $88,000 |
| City Population | ~6,600 |
| Trade Area | Iberville Parish |
| Major Metro | Baton Rouge · 25 min |
Plaquemine is a strategic industrial and service hub in the Baton Rouge metro — anchored by petrochemical, manufacturing, and logistics employers along the Mississippi River. Surrounding national retailers within 1 mile include Regions Bank, CVS, Subway, Little Caesars, Family Dollar, O'Reilly, AutoZone, Tower Loan, and Bealls — a stable, recession-resilient retail node anchored by daily-needs categories.
Deal Summary.
| Deal Summary | |
|---|---|
| Purchase Price | $1,075,000 |
| Initial Investment | 30% |
| Down Payment | $322,500 |
| NOI | $84,023 |
| CAP Rate | 7.82% |
| Projected Exit CAP RateEstimated national average at projected exit | 7.00% |
| Lending Assumptions | |
| Stated LTV | 70% |
| Estimated Interest RateSubject to change based on lending market factors | 6.50% |
| Amortization | 25 |
| Term | 5 |
| Bank Loan Amount | $752,500 |
| Investor Contribution Summary | |
| Initial Investment | $322,500 |
| Down Payment AssistanceNot available on 1031 | $0 |
| Total Investor Contribution | $322,500 |
| Investor Down Payment % | |
| Total Investor Contribution | $322,500 |
| Purchase Price | $1,075,000 |
| Investor Down Payment % | 30.0% |
| Debt Service Summary | |
| Annual Bank Mortgage | $60,971 |
| Custom Preferred Dividend | $0 |
| Total Annual Debt Payments | $60,971 |