Net Lease 24 Hour Fitness Property Profile and Cap Rates Date February 9, 2020
Net Lease 24 Hour Fitness Typical Property and Lease Terms
| Price Range: | 5 mm - 13 mm |
| Cap Rate: | 7.0% |
| Net Income: | $ 800,000 |
| Price Per foot: | $ 300 PSF |
| Building Size: | 35,000-60,000 SF |
| Lot Size: | 4-7 Acres |
| Escalations: | 10% every 5 Years |
| Lease Term: | 15 Years |
| Lease Type: | NNN |
| Credit Rating: | B (S&P) |
Tenant Company Information
24 Hour Fitness is a privately owned and operated fitness center chain headquartered in San Ramon, California. It is the second largest fitness chain in the United States based on revenue after LA Fitness,[3] and the fourth in number of clubs (behind LA Fitness, Anytime Fitness & Gold’s Gym),[4] operating 420 clubs in only 13 U.S. states with four million clients to LA Fitness’s 725 clubs in 30 states. The company was founded by Mark S. Mastrov and owned by AEA Investors. The company filed for bankruptcy in June 2020.