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Views: 61 DOM: 45 Updated: 12.13.24 Posted: 11.07.24 Status: Active

Summary

Price $12,580,000
Built/Renov 2023
Tenant City Sports Club | LA Fitness
Cap Rate 6.25%
Lease Type Double NN
Guarantor Corp Rated
Size/SF 37,000
Lease Start 03-01-2023
#Units 20
Price/SF $340.00
Expiration 03-29-2038
Tenant Type Sport/Fitness
NOI $786,250
R. Term 13.3
Ownership Fee Simple
Rent/SF $21.25
Increases 8.0%/5/yrs
Pop 5Mi 293,429
Lot/AC 2.08
Options 3/5yrs/8%
AHHI 5Mi $107,256

Lease Highlights

  • Brand new 2023 construction
  • New 15-year corporate-backed lease with 3 (5-year) options to extend
  • Rent increases of 8% or CPI every 5 years
  • Minimal landlord responsibilities
  • Tremendous foot traffic
  • Wealthy growing demographic base

Location Description

Positioned at the busiest retail intersection in Elk Grove and South Sacramento County, this property enjoys combined traffic counts of over 68,900 vehicles per day. Located within the Calvine Pointe Shopping Center and surrounded by high-profile retailers, it offers unparalleled visibility and accessibility within a dense commercial hub. With an average of more than 1,200 site visits per day...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: City Sports Club
  • Guarantor:Corp Rated
  • Company:Fitness International, LLC
  • # Units:20
  • Tenant S&P: B
  • Moody’s: B2
  • Stock:Private

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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