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Fitness Center

24 Hour Fitness | Densely Populated & Affluent Fort Worth Suburb | Recent Lease Extension

6500 Old Denton Rd, Fort Worth, TX 76131

Listing Price: $9,316,640

Cap Rate
7.50%
Tenant Name
24 Hour Fitness
Years Remaining On Lease
10.8
Gross SF
36,000
Guarantor
Corporate Guarantee
Rentable SF
36,000
Price/Gross SF
$258.80
Lease Type
Double Net
Rent Per Square Feet
$19.41

Investment Overview

Fort Worth is the fifth-largest city in the U.S. state of Texas and the 13th-largest city in the United States. It is the county seat of Tarrant County, covering nearly 350 square miles into three other counties: Denton, Parker, and Wise. According to the 2019 census estimates, Fort Worth’s population was 909,585. Fort Worth is the second-largest city in the Dallas–Fort Worth–Arlington metropolitan area, which is the fourth-most populous metropolitan area in the United States. Fort Worth has become one of the fastest-growing cities in the United States in recent years, particularly in the 21st century, and has more than doubled its population since 2000. Fort Worth is home to the Van Cliburn International Piano Competition and several world-class museums designed by internationally known contemporary architects. The Kimbell Art Museum, considered to have one of the best art collections in Texas, is housed in what is widely regarded as one of the outstanding architectural achievements of the modern era. The museum was designed by American architect Louis Kahn, with an addition designed by world-renowned Italian architect Renzo Piano opening November 2013. Also of note is the Modern Art Museum of Fort Worth, designed by Tadao Ando. The Amon Carter Museum of American Art, designed by Philip Johnson, houses one of the world’s most extensive collections of American art.

Investment Highlights

  • 2-Story Building with Numerous Amenities Including a Basketball Court, Swimming Pool, Locker Rooms, and More.
  • Positioned Along Area's Major Traffic & Retail Corridor - Features Easy Access and Excellent Visibility w/ Daily Traffic Counts Exceeding 20k Vehicles. Immediate Access to/from I-35 (90k+ VPD).
  • Long Term Corporate Backed Lease Featuring a 7.50% Rental Increase in 2027, over 50% Increase in the First Option Followed by 12% at Each Remaining Option.
  • 13+ Year Historical Occupancy and Recent 5-Year Lease Extension Demonstrates Strong Commitment to the Location.
  • Immediate Area Experiencing Major Growth: Near Several Large Housing/Retail Development Under Construction. Fort Worth has become one of the Fastest-Growing Major Cities in the United States.
  • In Close Proximity to Numerous National Retailers Including Kroger, The Home Depot, CVS Pharmacy, Walgreens and many more.
  • Densely Populated Affluent Area: Features an Average Household Income of $91k+ within a 3-Mile Radius and over 278k People Residing within a 5-Mile Radius.
  • Minutes from Fort Worth Meacham International Airport - The Airport has a Significant Impact on the Local Economy, bringing in more than $164M in Economic Activity.

Exclusively Listed By

Fitness Center

24 Hour Fitness | Densely Populated & Affluent Fort Worth Suburb | Recent Lease Extension

Listing Price: $9,316,640

Cap Rate
7.50%
Tenant Name
24 Hour Fitness
Years Remaining On Lease
10.8
Gross SF
36,000
Guarantor
Corporate Guarantee
Rentable SF
36,000
Price/Gross SF
$258.80
Lease Type
Double Net
Rent Per Square Feet
$19.41

Investment Highlights

  • 2-Story Building with Numerous Amenities Including a Basketball Court, Swimming Pool, Locker Rooms, and More.
  • Positioned Along Area's Major Traffic & Retail Corridor - Features Easy Access and Excellent Visibility w/ Daily Traffic Counts Exceeding 20k Vehicles. Immediate Access to/from I-35 (90k+ VPD).
  • Long Term Corporate Backed Lease Featuring a 7.50% Rental Increase in 2027, over 50% Increase in the First Option Followed by 12% at Each Remaining Option.
  • 13+ Year Historical Occupancy and Recent 5-Year Lease Extension Demonstrates Strong Commitment to the Location.
  • Immediate Area Experiencing Major Growth: Near Several Large Housing/Retail Development Under Construction. Fort Worth has become one of the Fastest-Growing Major Cities in the United States.
  • In Close Proximity to Numerous National Retailers Including Kroger, The Home Depot, CVS Pharmacy, Walgreens and many more.
  • Densely Populated Affluent Area: Features an Average Household Income of $91k+ within a 3-Mile Radius and over 278k People Residing within a 5-Mile Radius.
  • Minutes from Fort Worth Meacham International Airport - The Airport has a Significant Impact on the Local Economy, bringing in more than $164M in Economic Activity.

Investment Overview

Fort Worth is the fifth-largest city in the U.S. state of Texas and the 13th-largest city in the United States. It is the county seat of Tarrant County, covering nearly 350 square miles into three other counties: Denton, Parker, and Wise. According to the 2019 census estimates, Fort Worth’s population was 909,585. Fort Worth is the second-largest city in the Dallas–Fort Worth–Arlington metropolitan area, which is the fourth-most populous metropolitan area in the United States. Fort Worth has become one of the fastest-growing cities in the United States in recent years, particularly in the 21st century, and has more than doubled its population since 2000. Fort Worth is home to the Van Cliburn International Piano Competition and several world-class museums designed by internationally known contemporary architects. The Kimbell Art Museum, considered to have one of the best art collections in Texas, is housed in what is widely regarded as one of the outstanding architectural achievements of the modern era. The museum was designed by American architect Louis Kahn, with an addition designed by world-renowned Italian architect Renzo Piano opening November 2013. Also of note is the Modern Art Museum of Fort Worth, designed by Tadao Ando. The Amon Carter Museum of American Art, designed by Philip Johnson, houses one of the world’s most extensive collections of American art.

Exclusively Listed By

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