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24 Hour Fitness

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24 Hour Fitness

1000 E. Broad St.

Falls Church, Virginia 22042

Price:
$21,605,846
Cap Rate:
6.50%
NOI:
$1,404,380
Rentable SQFT:
48,636
Year Built:
2012
Lot Size:
3.087
Lease Type:
Absolute Net
Type of Ownership:
Fee Simple
Status:
Under Contract

Investment Highlights

NATIONAL TENANT REVITALIZED 
24 Hour Fitness has emerged from bankruptcy with greater financial strength with an optimized cost structure and leaner balance sheet after eliminating $1.2 billion in debt and retaining the highest performing, best located gyms.

INFILL WASHINGTON DC MSA
With a population of more than 207,000 within a 3 mile radius and average HH income of over $161,000, Falls Church has the lowest poverty level of any city or county in the nation.

RECENT 15 YEAR EXTENSION
With a successful track record since 2012 and high barrier-to-entry location with limited competition, 24 Hour Fitness recently executed an early 15 year lease extension, demonstrating their long term commitment to the site.

MAJOR BUILDING UPGRADES
Repaired Masonry, Foundation Waterproofing, New Drainage to Roof/Structure/Sidewalks, New Roof Membrane, New Landscaping, New Concrete / Paver Sidewalks, New Asphalt Parking Lot and Restriping.

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    The information contained on this website is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from NNN Fitness and distribution to any other person or entity without the express written consent of NNN Fitness is strictly prohibited. This website provides summary, unverified information to prospective purchasers, and has been prepared to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. NNN Fitness has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. NNN Fitness has not made any investigation, and makes no representation or warranty, that the information on this website has not changed since it was originally prepared and posted. The information contained on this website has been obtained from sources we believe to be reliable; however, NNN Fitness has not verified, and will not verify, any of the information contained herein, nor has NNN Fitness conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

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