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24 Hour Fitness, Sacramento, CA

24 Hour Fitness

Price $11,152,000
Cap Rate 6.75%
NOI $752,746
Lease Term 14 Years Remaining
Lease Type Net, With Tenant Responsible For Taxes, Insurance, And Maintenance, Excluding Roof, Structure, And Parking Lot
Rental Increases 12% Rental Increase In 2028 And Every Five (5) Years Thereafter
Year Built 2008
Building Size 34,070 SF
Lot Size 3.02 Acres (131,695 SF)
Status Available
Lead Broker Information Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

LONG-TERM CORPORATE LEASE AT PROVEN LOCATION
» Long-term net lease with scheduled rental increases, providing a hedge against inflation
» Recent lease extension, demonstrating commitment to the location
» Corporate lease to well-known national tenant
» Strong operating history since 2008
» 24 Hour Fitness is the world’s 2nd largest fitness chain based on memberships, with more than 420 operating clubs across 13 states

HIGH-TRAFFIC LOCATION IN EXTREMELY DENSE RETAIL CORRIDOR
» 24 Hour Fitness is investing additional capital into the space to update equipment and overall membership experience
» Direct access to 28,380 vehicles per day via Florin Towne Centre’s signalized entrance on Stockton Boulevard, plus interparcel access from Florin Road (34,180 AADT) and 65th Street (18,728 AADT)
» Immediate access to Highway 99 (196,000 AADT)
» Prominently located in Florin Towne Centre, a power center anchored by Walmart Supercenter
» 2.3 million square feet of retail space within a one-mile radius of the property

CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Centrally located eight miles from downtown Sacramento, six miles from Sacramento Executive Airport, and close to large schools and densely populated residential neighborhoods
» Nearly 23,000 residents live within a one-mile radius of the property, and 385,039 people live within five miles, providing a large customer base
» Large daytime population in the area, with 128,497 daytime employees working within a five-mile radius



Property Description

The property is located at Florin Towne Centre’s signalized entrance on Stockton Boulevard, with excellent visibility and direct access to 28,380 vehicles per day. The property also enjoys interparcel access from Florin Road (34,180 AADT) and 65th Street (18,728 AADT), as well as immediate access to Highway 99 (196,000 AADT). The property is prominently located in Florin Towne Centre, a power center anchored by Walmart Supercenter and featuring strong national tenants such as PetSmart, Starbucks, Wells Fargo, Dollar Tree, McDonald’s, and more. Located within the main retail hub of one of south Sacramento’s busiest trade areas, the property is surrounded by 2.3 million square feet of retail space within a one-mile radius. Other notable retailers in the nearby area include Burlington, Home Depot, Walmart Neighborhood Market, FoodMaxx, Krispy Kreme, Midas, and Beck’s Furniture.

The property is centrally located eight miles from downtown Sacramento, six miles from Sacramento Executive Airport, and close to large schools and densely populated residential neighborhoods. Nearly 23,000 residents live within a one-mile radius of the property, and 385,039 people live within five miles, providing a large customer base. Additionally, the property is close to major employment centers and industrial regions, creating a large daytime population in the area, with 128,497 daytime employees working within a five-mile radius.

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