Tel          : 202-361-3050
E:  info@nnndeals.com

Facebook Linkedin Instagram Youtube Blog
Menu
GET A QUOTE

EOS Fitness NNN Investor Hub | Cap Rate Trends, Credit Rating Trends, Lease Terms & Due Diligence

EOS Fitness NNN Property

Last Year Cap

6.5%

This Year Cap

6.8%

Cap Change

0.3%

EOS Fitness – NNN Cap Rate Trend

Cap Rate Trends

wdt_ID wdt_created_by wdt_created_at wdt_last_edited_by wdt_last_edited_at Tenant Year Cap Rate
5779 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,020 6.5
5780 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,021 6.3
5781 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,022 6.0
5782 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,023 6.3
5783 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,024 6.6
5784 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,025 6.6
Tenant Year Cap Rate
1031 Exchange
See Active Listing
Get Off Market Deals

Credit (what net-lease buyers care about)

Credit Snapshot

EOS Fitness

Cap Rates NNN
Last Year 6.5%
This Year 6.8%
Change 0.3%
S&P Rating CREDIT
Last Year NR
This Year NR
Change no change

EOS Fitness Net Lease: Secure, Essential Investment

EOS Fitness is a rapidly expanding fitness brand operating High Value. Low Price.® gyms across multiple U.S. markets. This guide reviews cap rates, lease terms, tenant credit, property fundamentals, and key due diligence considerations for buyers and sellers.

For 1031 exchange buyers, EOS Fitness Ground Lease Properties can be compared against fee simple EOS Fitness assets, as lease structure can materially affect pricing, financing, landlord responsibilities, and long-term resale value.

Investors often evaluate EOS Fitness assets for:

  • Stable Income Potential
  • High-Visibility Fitness Locations
  • Established and Growing Gym Brand
  • Attractive 1031 Exchange Compatibility

EOS Fitness Ground Lease Properties require close comparison of rent escalations, remaining lease term, extension options, landlord responsibilities, tenant obligations, and residual land value versus fee simple ownership.

EOS Fitness Ground Lease Properties for 1031 Exchange Buyers

EOS Fitness Ground Lease Properties can trade differently from fee simple EOS Fitness assets. Buyers should carefully evaluate the lease structure, remaining term, renewal options, rent escalations, landlord responsibilities, tenant obligations, and reversion rights to understand the property’s long-term income characteristics, risk profile, and resale considerations.

EOS Fitness Investment Market Statistics

AVERAGE SALE PRICE

$14,648,000

BUILDING SIZE

41,520 – 62,000 SF

AVERAGE NOI

$983,000

LAND

2.42 – 5.18 acres

$/SF RANGE

$229 – $424

LEASE TERM SHOWN

20 years

EOS Fitness Investor Snapshot (Quick Facts)

Origins & Growth (Past)

• Founded in 2014 in Phoenix, Arizona
• Expanded through new gym openings and strategic acquisitions
• Built a growing presence across multiple U.S. markets
• Reached more than 1 million members by 2023
• Surpassed 1.5 million members in 2025
• Expanded its Southern California presence through a 23-gym acquisition in 2025

 

Where EOS Fitness Stands Today

• Operates more than 225 locations open or on the way nationwide
• Serves more than 2 million members
• Operates across Arizona, California, Florida, Georgia, Nevada, Texas, and Utah
• Continues expanding through new gym openings, leases, and acquisitions
• Signed new leases and opened additional gyms during 2026
• Led by CEO Rich Drengberg
• Targeting approximately 250 gyms by 2030

Where EOS Fitness Stands Today

• Large-format fitness facilities serving established customer markets
• High-visibility locations with convenient access
• Growing membership base supporting recurring fitness demand
• Long-term lease opportunities for single-tenant properties
• NNN and ground-lease investment opportunities
• Potential 1031 exchange compatibility
• Property value can be influenced by location, building size, parking, and access

 

Why investors buy EOS Fitness NNN Properties or EOS Fitness ground Lease Properties?

Pros (what buyers like)

  • Growing Fitness Brand
    225+ locations open or on the way
  • Large-Format Facilities
    Strong fitness-focused real estate demand
  • High-Visibility Locations
    Convenient access and established trade areas
  • Attractive Lease Structures
    NNN and ground-lease opportunities 
  • Growing Fitness Brand
    225+ locations open or on the way nationwide
  • Attractive Lease Structures
    NNN and ground-lease opportunities

Cons (what can bite you)

  • Lease Structure Variability
    Landlord responsibilities vary by lease
  • Tenant Credit Risk
    Verify tenant and guarantor strength
  • Limited Rent Growth
    Escalations vary by property
  • Re-Tenanting Challenges
    Large gym layouts can be costly to convert  
  • Lease Structure Variability
    Landlord responsibilities vary by property
  • Re-Tenanting Challenges
    Large gym layouts can be costly to convert

Find out more

EOS Fitness NNN Property

EOS Fitness Background & History

EOS Fitness began in 2014 in Phoenix, Arizona, with a focus on providing affordable, high-value fitness experiences through its High Value. Low Price.® gym model. The company expanded rapidly through new gym openings and strategic acquisitions, building a growing presence across multiple U.S. markets.

Over time, EOS Fitness developed into a large-format fitness operator with facilities designed around extensive workout areas, member amenities, parking, and convenient access. The company has continued expanding its footprint through new locations, leases, and acquisitions.

Today, EOS Fitness operates more than 225 locations open or on the way and serves more than 2 million members. The company continues to pursue expansion, with a stated goal of reaching approximately 250 gyms by 2030.

Why EOS Fitness Matters to NNN Investors

EOS Fitness is relevant to NNN investors because its large-format gyms require strategically located commercial real estate with adequate building space, parking, visibility, and customer access.

Many EOS Fitness properties are positioned along major roads and established retail corridors, providing convenient access for members. Long-term leases can create opportunities for investors seeking income-oriented single-tenant commercial properties.

EOS Fitness properties may be structured as NNN or other net lease arrangements depending on the specific transaction. Investors should therefore focus on the actual lease terms, tenant obligations, rent escalations, remaining term, and guaranty structure rather than relying solely on the EOS Fitness brand.

What Buyers and Sellers Should Evaluate

For investors evaluating EOS Fitness NNN properties, EOS Fitness net leases, or EOS Fitness ground leases, the investment analysis should focus on both the tenant and the underlying real estate.

Common considerations include EOS Fitness real estate, EOS Fitness cap rate, EOS Fitness lease term, tenant credit, rent escalations, and property fundamentals. Ultimately, value is driven by site quality, lease economics, tenant obligations, and long-term property usability.

Buyers and sellers should evaluate each property individually, including visibility, ingress and egress, traffic patterns, surrounding population, parking capacity, building functionality, competing fitness facilities, and lease provisions defining landlord responsibilities.

Corporate vs. Franchise | Store Count

EOS Fitness operates primarily through a company-owned model, rather than a traditional franchise system. TSG Consumer Partners noted that EOS's company-owned model supports consistent operations across its locations. As of 2026, EOS has more than 225 locations open or on the way across Arizona, Florida, Georgia, Nevada, Southern California, Texas, and Utah. For NNN and ground lease investors, the key considerations are the actual legal tenant, guarantor, lease structure, remaining term, and corporate support rather than the total number of gyms. Each property should be evaluated based on its specific lease and real estate fundamentals.

EOS Fitness Financial Snapshot

EOS Fitness is a privately held fitness company backed by TSG Consumer Partners, which announced its acquisition of EOS in 2025. At the end of 2025, EOS surpassed 2 million members and continued expanding through new gyms, acquisitions, and additional leases. EOS opened new gyms, signed additional leases, and acquired existing gym locations during 2026. The company is targeting approximately 250 gyms by 2030, reflecting its continued expansion strategy.

EOS Fitness Lease Types

EOS Fitness properties may involve NNN, absolute NNN, NN, or ground lease structures, depending on the individual transaction. Buyers should carefully review the remaining lease term, rent escalations, renewal options, taxes, insurance, maintenance, and landlord responsibilities before underwriting the property. For NNN and absolute NNN leases, investors should determine which operating and capital expenses are transferred to the tenant and whether any landlord obligations remain. For NN or modified NNN structures, particular attention should be given to roof, structure, HVAC, parking, and other potential capital expenses.

our team of experts are here for you

Our team helps investors evaluate NNN properties with practical, market-based guidance. In addition, we support buyers and sellers with lease review, pricing analysis, and due diligence strategy.

Whether you are comparing EOS Fitness ground lease properties or fee simple EOS Fitness assets, we can help you review the details that affect risk and long-term value. As a result, clients can make more confident decisions based on lease structure, location quality, and investment goals.

Contact Us
Scroll to Top