24 Hour Fitness

6500 Old Denton Road, Fort Worth, TX 76131

$9,316,640

Cap Rate 7.50%

Views: 71 Updated: 05.21.24 Posted: 11.28.23 Status: Inactive

Summary

Price $9,316,640	Built/Renov 2007	Tenant 24 Hour Fitness
Cap Rate 7.50%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 36,000	Lease Start 04-01-2022	#Units 287
Price/SF $258.80	Expiration 03-31-2032	Tenant Type Sport/Fitness
NOI $698,748	R. Term 7.4	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

Mark Thiel

Marcus & Millichap

Contact

Lease Highlights

24 Hour Fitness has 8+ 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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Key Features

Build to suit
Dense retail corridor
Near major nationals
Freeway close
Top 100 MSA
Strong demographics
Income tax free state
24 hour store
Corporate Guarantee
Publicly traded company

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Links

24 Hour Fitness Wikipedia 24 Hour Fitness Wikipedia Fort Worth, Texas Zip Code 76131 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: 24 Hour Fitness
Guarantor:Corp T and Rated
Company:Rithm Capital Corp
# Units:287
Tenant S&P: CCC-
Stock: NYSE: RITM

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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