For Sale
$5,382,000 | 7.75% Cap
2905 SW Topeka Blvd, Topeka, KS 66611
New OM Download
New OM Download
Broker of Record: Jeremy Halback | Bridgeline Real Estate LLC | KS License #: CO00003865
| Facility Type | Building Area (SF) | Years Remaining | Net Operating Income |
|---|---|---|---|
| Two Tenants | 39,266 Square Feet |
4.8 Years (WALT) | $417,141 |
Investment Highlights
Crunch Fitness Anchored | 89% of Income
Crunch accounts for $370,281 of the $417,141 in base rent. Lease runs through May 31, 2031 with two 5year options at 10% increases. Crunch operates 550+ gyms with 3.5M members.
Largest Crunch Franchisee Guaranty
Lease guaranteed by Fitness Ventures, LLC, the largest franchisee in the Crunch system with 115 clubs across 30 states (May 2026) and private equity backing from Meaningful Partners.
Prototype Club, Major Tenant Investment
Crunch prototype build-out completed in 2020 on a reported ~$3M budget, alongside a $350K landlord TI allowance.
Capp's On Site Since 1997
Local Topeka bike and fitness retailer founded in 1980 with nearly three decades at this property. Capp's extended its lease through December 31, 2032, with one remaining 5-year option at a 10% increase.
Signalized Hard Corner | 41,000 VPD
SW Topeka Blvd and 29th Street, the city's primary north/south commercial corridor. About 3 miles to downtown with easy access to I-470 and the Kansas Turnpike.
Redeveloped Holliday Square
$5+ million center renovation including new facade, signage and parking lot. Co-tenants include the CoreFirst Bank & Trust HQ, CSL Plasma, IHOP, Popeyes and Scooter's, with Walgreens, Chick-fil-A and McDonald's on the corridor.
| Facility Type | Building Area (SF) | Years Remaining | Net Operating Income |
|---|---|---|---|
| Two Tenants | 39,266 Square Feet |
4.8 Years (WALT) | $417,141 |
Peranich Huffman Net Lease Group is pleased to offer for sale the Crunch Fitness & Capp's Bike Shop property at Holliday Square Shopping Center in Topeka, Kansas. The 39,266 SF two-tenant building sits on 4.03 acres, is 100% leased and is offered at $5,382,000, a 7.75% cap rate on $417,141 of annual base rent.
Crunch Fitness leases 30,954 SF at $370,281 annually through May 31, 2031, with two 5-year options at 10% increases. Capp's Bike Shop leases 8,312 SF at $46,860 annually through December 31, 2032, with one remaining 5-year option at a 10% increase.
Crunch Fitness and Capp's Bike Shop each operate under a NNN lease, reimbursing their pro-rata share of property taxes, insurance and common area maintenance. Landlord responsibilities are limited to the structure and roof replacement.
The Crunch lease is guaranteed by Fitness Ventures, LLC, the largest franchisee in the Crunch system with 115 clubs across 30 states (May 2026), backed by private equity firm Meaningful Partners. Crunch operates 550+ gyms with 3.5 million members.