City Sports Club | LA Fitness

8438 Elk Grove Florin Road, Elk Grove, CA 95624

$12,285,000

Cap Rate 6.40%

Views: 298 DOM: 128 Updated: 08.14.24 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 13.6	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

Andrew Bogardus

Cushman & Wakefield

Contact

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...

...

Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Long 10+ yr lease
Favorable NN+ lease
Corporate Guarantee
Credit rated company

...

Links

City Sports Club Wikipedia LA Fitness Wikipedia Elk Grove, California Zip Code 95624 Broker Site Page

Maps

Local Information

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...

...

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

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT