24 Hour Fitness - Dallas, TX
2300 Fort Worth Ave Dallas , TX 75211

24 Hour Fitness - Dallas, TX - retail for sale

Download offering memorandum:

Overview



JLL is pleased to offer for sale the fee-simple interest in a new construction, build-to-suit 24 Hour Fitness ideally located in the heart of Dallas, TX. Positioned along Fort Worth Avenue, 3.5 miles from downtown Dallas in Kessler Park, 24 Hour Fitness is located within a dense, infill, gentrifying area which has been a hotbed for upscale residential and multi-family/retail development. The Property had a notably strong opening in June and features a 15-year primary lease term with 10% escalations every five years. 24 Hour Fitness offers investors the opportunity to acquire a first to market, new generation health club, with limited competition and a long-term lease with irreplaceable real estate, neighboring Dallas’ urban core.

Investment highlights


  • Superior performance
  • Brand new 15-year net lease with 10% rental increases every 5 years
  • Urban, infill location 3.5 miles from downtown Dallas 
  • Leased to 24 Hour Fitness, one of the largest fitness chains in the US with over 430 locations
  • Only full service gym within a 4-mile radius
  • Newly constructed building with 20-year roof warranty
General
Property type Retail
Tenure type Sale/Purchase
Property address 2300 Fort Worth Ave, Dallas, TX 75211
Building size 37,000  ft2
Financial
Price $13,616,000
Cap rate 6.25%
Current NOI $851,000.00
Lease
Tenant's name 24 Hour Fitness
Guarantor 24 Hour Fitness
Lease type NNN
Annual rent $851,000.00
Lease expiration date 06/30/2034
Remaining term 14.6Yrs

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