Health Clubs
MUV Fitness – Spokane Valley
Health Clubs Offerings
MUV Fitness – Spokane Valley
14927 E Sprague Ave
Spokane Valley, WA 99216
- Price:
- $8,525,000
- Cap Rate:
- 7.50%
- NOI:
- $639,375
- Rentable SQFT:
- 41,690 SF
- Year Built:
- 2004
- Lot Size:
- 4.67 Acres
- Lease Type:
- NNN*
- Type of Ownership:
- Fee Simple
- Status:
- Under Contract
Investment Highlights
- Brand New 15 Year Lease
- 10% Increases Every 5 Years
- Experienced Operator & Successful Track Record
The NNN Fitness group of Marcus & Millichap is pleased to present this rare opportunity to purchase a MÜV Fitness with a new 15 year lease and 10% increases every 5 years located in Spokane Valley, WA. The offering is a 41,690-square-foot facility positioned on 4.67 acres off the I-90 freeway and Sprague Avenue. This location offers not only state-of-the-art exercise equipment but also a basketball court, racquetball court, jacuzzi and pool, tanning, sauna, childcare, and cycling and group exercise classes. MÜV’s group exercise program offers the widest spectrum of classes ranging from the peacefulness of yoga to the intensity of boot camps. All classes can be taken by beginners and veterans alike. They also have specific training services for individual personal training, small group classes, endurance building classes, strength training, and cardiovascular-focused classes.
The incorporated area of Spokane Valley encompasses approximately 38.5 square miles of land area, with room for residential, commercial and industrial expansion. Within the incorporated city limits, there are about 438 miles of roadway. It has an extensive retail tax base had an estimated taxable retail sales of $567 million in 2018. The city is home to several major auto dealerships and the Spokane Valley Mall, which includes over 700,000 square feet of gross leaseable floor area and is only 1.7 miles from the property. Other nearby local and national retailers include WalMart, Target, Fedex, Ross, Kohl’s, Fred Meyer, and Safeway.
*Tenant maintains Parking Lot, Landlord Responsible for Roof & Structure
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