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Views: 165 DOM: 70 Updated: 07.08.24 Posted: 05.03.24 Status: Active

Summary

Price $12,285,000
Built/Renov 2023
Tenant City Sports Club | LA Fitness
Cap Rate 6.40%
Lease Type NN+
Guarantor Corp Rated
Size/SF 90,505
Lease Start 03-30-2023
#Units 20
Price/SF $135.74
Expiration 03-29-2038
Tenant Type Sport/Fitness
NOI $786,250
R. Term 13.8
Ownership Fee Simple
Rent/SF $8.69
Increases 10.0%/5/yrs
Pop 5Mi 300,855
Lot/AC 2.08
Options 3/5yrs/10%
AHHI 5Mi $115,760

Lease Highlights

  • Brand new 2023 construction
  • City Sports Club has 13+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof & structure
  • Corporate guaranteed lease

Location Description

City Sports Club | LA Fitness is strategically located on Elk Grove Florin Road, near the busiest, high-traffic retail intersection, with access to 30,400 vehicles passing by daily. The property is part of the Calvine Pointe Shopping Center, with neighboring well-known national tenants including Kohl’s, Bank of America, Walgreens, ARCO, O’Reilly’s, Panda Express, and more. Additionally, it is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

City Sports Clubs is a fitness club that offers a refreshing diversity of amenities including plenty of free weights, cardio machines, personal training, and a wide variety of group fitness...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 22,791 134,186 304,539
2023 Total Population : 22,792 131,036 300,855
2023 Employed Civilian Pop : 10,642 59,443 132,836
2023 Total Businesses : 360 2,766 6,483
2023 Average Household Income : $ 120,353 $ 113,809 $ 115,760
2023 Total Consumer Spending : $ 674 M $ 3868 M $ 9086 M
2023 Median Age : 34 35 35
2023 Total Households : 6,534 39,655 91,511
2023 Pop Age 25+: Bachelor's Degree : 3,334 17,807 41,617
2023 Average Home Value : $ 576,763 $ 556,439 $ 537,276
*ESRI data is presented for informational purposes only

Listing Broker

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