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Fitness Center

24 Hour Fitness

329 Town Pl, Fairview, TX 75069

Listing Price: $12,818,900

Cap Rate
6.35%
Tenant Name
24 Hour Fitness
Years Remaining On Lease
13.3
Gross SF
37,000
Guarantor
Corporate Guarantee
Rentable SF
37,000
Price/Gross SF
$346.46
Lease Type
Double Net
Rent Per Square Feet
$22.00

Investment Overview

Marcus & Millichap is pleased to present this rare opportunity to purchase a brand new, fee-simple 24 Hour Fitness Super-Sport located in Fairview, which is located within the Dallas–Fort Worth metroplex. The offering is a 37,000-square-foot state-of-the-art facility positioned just off NEC Highway 75 and Stacy Road, with over 188,700+ combined traffic counts. The property is located within the Fairview Town Center, an expansive shopping center that is the shopping, dining and entertainment destination for Fairview, Allen, and McKinney, Texas. The shopping center features Whole Foods , Dillard’s, JCPenney, Macy’s, iPic Theaters, Bowlero and more. 24 Hour Fitness executed a brand new 15-year NN lease in 2019 with (3) five-year options, with 10% increases every 5 years, including option periods. The Dallas-Fort Worth metroplex is the largest metro area in Texas and the fourth largest in the United States. The Metroplex is home to more than 6.3 million residents and has one of the nation’s strongest job markets. The Metroplex led the nation in population growth over the last decade, adding approximately 1.3 million residents. The Dallas-Fort Worth metroplex added approximately 126,037 residents from July 2010 to July 2011 and continues to be one of the fastest-growing metropolitan locations in the United States.

Investment Highlights

  • Long-Term Corporate Lease with 10% Rental Escalations Every Five Years
  • Irreplaceable Location in Fairview Town Center, a 1-Million-Square-Foot Class A Shopping Center
  • Outstanding Demographics - More than 223,431 Residents Within a Five-Mile Radius
  • NEC Highway 75 and Surrounding Roads have Approximately 188,700+ Vehicles per Day

Exclusively Listed By

Listing Price: $12,818,900

Cap Rate
6.35%
Tenant Name
24 Hour Fitness
Years Remaining On Lease
13.3
Gross SF
37,000
Guarantor
Corporate Guarantee
Rentable SF
37,000
Price/Gross SF
$346.46
Lease Type
Double Net
Rent Per Square Feet
$22.00

Investment Highlights

  • Long-Term Corporate Lease with 10% Rental Escalations Every Five Years
  • Irreplaceable Location in Fairview Town Center, a 1-Million-Square-Foot Class A Shopping Center
  • Outstanding Demographics - More than 223,431 Residents Within a Five-Mile Radius
  • NEC Highway 75 and Surrounding Roads have Approximately 188,700+ Vehicles per Day

Investment Overview

Marcus & Millichap is pleased to present this rare opportunity to purchase a brand new, fee-simple 24 Hour Fitness Super-Sport located in Fairview, which is located within the Dallas–Fort Worth metroplex. The offering is a 37,000-square-foot state-of-the-art facility positioned just off NEC Highway 75 and Stacy Road, with over 188,700+ combined traffic counts. The property is located within the Fairview Town Center, an expansive shopping center that is the shopping, dining and entertainment destination for Fairview, Allen, and McKinney, Texas. The shopping center features Whole Foods , Dillard’s, JCPenney, Macy’s, iPic Theaters, Bowlero and more. 24 Hour Fitness executed a brand new 15-year NN lease in 2019 with (3) five-year options, with 10% increases every 5 years, including option periods. The Dallas-Fort Worth metroplex is the largest metro area in Texas and the fourth largest in the United States. The Metroplex is home to more than 6.3 million residents and has one of the nation’s strongest job markets. The Metroplex led the nation in population growth over the last decade, adding approximately 1.3 million residents. The Dallas-Fort Worth metroplex added approximately 126,037 residents from July 2010 to July 2011 and continues to be one of the fastest-growing metropolitan locations in the United States.

Exclusively Listed By

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