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18730 Amar Rd

Walnut, CA 91789

$16,528,000

Health Club For Sale  •  42,282 Sq Ft

Property Details

  • Property Type Health Club
  • Total Building Size 42,282 Sq Ft
  • Lot Size 4 ac
  • Building Class C
  • Year Built 1983
  • Cap Rate 5.50 %
  • Tenancy Single
  • Zoning WAC3
36 Transit Score
42 Walk Score

Description

The Savills Studley Retail Investment Team is pleased to present investors the opportunity to acquire a trophy single tenant NNN asset located in a very dense and affluent submarket in Southern California. The subject property consists of a 42,282 square foot 24 Hour Fitness located on 3.74 acres at the southeast corner of Amar Road and Nogales Street in the City of Walnut. 24 Hour Fitness enjoys a competitive advantage as the nearest full service gym is located over 4.5 miles away. The building was completely redeveloped in 2017 ensuring no immediate deferred maintenance. 24 Hour Fitness entered into a lease with a primary term of fifteen (15) years that commenced 7/15/17.

The property is located in the heart of an extremely dense and affluent submarket with 158,794 residents with average household incomes in excess of $92,595 per year within three (3) miles of the property. 24 Hour Fitness has enjoyed strong new membership sales since the opening of this location.

The City of Walnut is known for being a very strong submarket for retail and industrious type real estate, with the City of Industry bordering the southwest, Covina and Glendora to the north, Pomona to the east, and the South San Jose Hills to the south. The area offers exceptional demographic characteristics with a daytime population of approximately 151,598 employees, and a residential population in excess of 417,939 within a 5 mile radius.

Highlights

24 Hour Fitness is the world’s largest (by memberships) privately owned and operated fitness center chain with 400 clubs in 13 states.
New 15 year lease, with three (3) five (5) year options to extend; 10% increase every 5 years.
No existing financing allows an investor to pay all cash or source new debt in today’s historically low interest rate environment.

Property Flyers

Cap Rate: 5.50 %

Major Tenants

Tenant SF Occupied Lease End Date
24 Hour Fitness

Public Transportation

Commuter RailDriveWalkDistance
Industry Commuter Rail (Riverside Line) 12 min - 4.7 mi
Covina Commuter Rail (San Bernardino Line) 17 min - 7.0 mi
AirportDriveWalkDistance
Ontario International Airport 30 min - 22.6 mi
John Wayne Airport 35 min - 31.4 mi
Long Beach-Daugherty Field Airport 41 min - 35.2 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 188
Type: Surface
Included in Rent: Yes
Kyle Miller 213-298-3597 Newmark Knight Frank
Kyle Miller 213-298-3597 Newmark Knight Frank