x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Contact Us

x

Phone: 916-403-1812

Email: McKenney.Houck@cushwake.com

Or contact us using the form below.


24 Hour Fitness, Roseville, CA

24 Hour Fitness, Roseville, CA


Investment Summary

Price $14,437,000
Cap Rate 6.50%
NOI $938,350
Lease Term 20 years
Lease Type Net, with tenant responsible for taxes, insurance, and maintenance, excluding roof, structure, and parking lot
Rental Increases 10% rental increase in initial term and option periods
Year Built 2023
Building Size 38,300 SF
Lot Size 3.72 Acres (162,043 SF)
Status Available
Lead Brokers Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

NEW 20-YEAR CORPORATE LEASE TO NATIONAL TENANT
» 20-year corporate net lease, with 10% scheduled rental increases in initial term and option periods, providing a hedge against inflation
» 24 Hour Fitness has 35 years as an industry leader, operating nearly 300 fitness clubs in 11 states nationwide
» New, high-quality 2023 construction

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, AFFLUENT, AND RAPIDLY GROWING CALIFORNIA CORRIDOR
» Located near the signalized intersection of Blue Oaks Boulevard (59,816 AADT) and Woodcreek Oaks Boulevard (20,060 AADT), with cross access from Roseville Parkway
» Beneficial proximity to California thoroughfares, including State Route 65/Roseville Bypass (102,400 AADT) and Interstate 80 (192,100 AADT)
» Population of 187,881 within a five-mile radius, providing a consistent customer base for the site
» Average annual household income of $159,013 within one mile of the location
» Projected 12 percent average annual household income increase within one mile of the site in the next five years, poising 24 Hour Fitness and Roseville for concurrent growth

STRATEGIC INFILL LOCATION WITHIN CAMPUS OAKS TOWN CENTER WITH HIGH-VISIBILITY
» Located within Campus Oaks Town Center, a new 38-acre retail development anchored by Nugget Markets includes Panda Express, Del Taco, Starbucks, Jamba Juice, MOD Pizza, Supercuts, and many more
» Within five miles of nine major shopping centers (combined 4.4 million SF of retail space and 498 stores), promoting crossover shopping to the location
» Minutes from the Fiddyment Farm master-planned community (±5,195 new homes)
» Surrounded by a multitude of offices and distribution centers such as Sutter, Cokeva, PRIDE Industries, and the Hewlett Packard campus
» Beneficial proximity to the Roseville Parkway extension project, which is expected to increase the average daily traffic count near the parcel intersection to 89,500 AADT

Property Description

» The property is located within Campus Oaks Town Center, a new 38-acre retail development anchored by Nugget Markets and includes national tenants such as Panda Express, Del Taco, Starbucks, Jamba Juice, MOD Pizza, Supercuts, and many more
» 24 Hour Fitness is located near the signalized four-way intersection of Blue Oaks Boulevard and Woodcreek Oaks Boulevard (79,876 AADT)
» The location benefits from its proximity to California thoroughfares, including State Route 65/Roseville Bypass (102,400 AADT) and Interstate 80 (192,100 AADT)
» Visibility to the property is increased by the site’s centralized location in a densely populated and growing retail corridor. 187,881 residents live within a five-mile radius of the location, establishing a consistent customer base for the site
» The property also resides in an affluent area, with an average annual household income of $159,013 within one mile of the site. The property is located in an area that is experiencing rapid growth, with a projected 12% average annual household income increase by 2026, poising 24 Hour Fitness and Roseville for concurrent growth
» The site also resides within five miles of nine major shopping centers (combined 4.4 million SF of retail space and 498 stores), promoting crossover shopping to the location
» The property is in a strategic location just minutes from the Fiddyment Farm master-planned community, which upon completion will feature ±5,195 new homes. Additionally, the location is surrounded by numerous offices and distribution centers such as Sutter, Cokeva, PRIDE Industries, and the Hewlett Packard campus
» The site maintains proximity to the ongoing Roseville Parkway extension project, which is expected to increase the average daily traffic count near the parcel intersection to 89,500 ADDT

Download OM Form

x
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link