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Views: 207 DOM: 89 Updated: 09.07.24 Posted: 06.10.24 Status: Active 06.10.24

Summary

Price $8,734,350
Built/Renov 2007
Tenant 24 Hour Fitness
Cap Rate 8.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 36,000
Lease Start 04-01-2022
#Units 287
Price/SF $242.62
Expiration 03-31-2032
Tenant Type Sport/Fitness
NOI $698,748
R. Term 7.6
Ownership Fee Simple
Rent/SF $19.41
Increases 7.5%/4/yrs
Pop 5Mi 286,709
Lot/AC 4.76
Options 4/5yrs/15%
AHHI 5Mi $93,146

Lease Highlights

  • 24 Hour Fitness has 7+ years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features 7.5% increase every 5 years throughout the initial term and 15% at the start of each option
  • This property ranks as the #1 24 Hour Fitness location within 15 miles according to Placer.ai
  • Corporate guaranteed lease

Location Description

24 Hour Fitness is strategically located on Old Denton Road, with access to 6,132 vehicles passing by daily. Positioned near Interstate-35, a prime location boasting over 143,000 vehicles per day. The immediate trade area is surrounded by national tenants such as Chick-fil-A, Smoothie Kong, FedEx, Starbucks, 7-Eleven, and more. Notably, this location holds the #1 rank among 24 Hour Fitness...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

24-Hour Fitness is a privately owned and operated fitness center chain, and the second-largest fitness chain in the United States based on revenue. Members are offered aerobic, cardiovascular,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 17,114 100,369 308,019
2023 Total Population : 16,626 99,074 299,685
2023 Employed Civilian Pop : 9,429 52,904 153,740
2023 Total Businesses : 314 2,429 7,024
2023 Average Household Income : $ 96,177 $ 99,972 $ 102,040
2023 Total Consumer Spending : $ 568 M $ 3051 M $ 9027 M
2023 Median Age : 32 33 33
2023 Total Households : 6,742 35,132 102,115
2023 Pop Age 25+: Bachelor's Degree : 2,812 15,784 45,819
2023 Average Home Value : $ 295,877 $ 282,058 $ 282,231
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Fwy Sandshell Dr 2009 10,410 0.24 mi
North Fwy Fossil Bluff Dr 2004 4,473 0.26 mi
North Fwy Sandshell Dr 2004 9,450 0.29 mi
North Fwy Fossil Bluff Dr 2004 5,893 0.29 mi
N Freeway Svc Rd E North Fwy 2004 6,361 0.36 mi
I- 35 W Western Center Blvd 2004 8,946 0.37 mi
Western Center Blvd St Andrews Ln 2009 29,520 0.40 mi
Western Center Blvd Station WayDr 2004 21,910 0.42 mi
Friendsway Dr Western Center Blvd 2008 677 0.46 mi
Sandshell Blvd Sadie Trl 2008 2,157 0.56 mi

Listing Broker

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