8438 Elk Grove Florin RdElk Grove, CA 95624

Property Details for 8438 Elk Grove Florin Rd

Year built

2023

Lot size

2.08 AC

Property type

Retail properties

Property subtype

Freestanding property

Description

This exceptional investment opportunity presents a fee-simple, 37,000-square-foot, freestanding LA Fitness health club in Elk Grove, California. Built in 2023, the property boasts a 13.2-year remaining lease term expiring March 29, 2038, with a strong 100% occupancy rate. The lease is a Net Lease (NNN) structure, providing significant operational simplicity for the owner. The property sits on a 2.08-acre lot within the Calvine Pointe Shopping Center, a high-traffic location at a busy intersection in South Sacramento County, experiencing over 68,900 vehicles daily. The strong tenant, LA Fitness (Fitness International, LLC), is a major player in the fitness industry with over 740 locations. The current Net Operating Income (NOI) is $786,250, yielding a 6.25% cap rate. Rent increases are structured at 8% or CPI every five years, ensuring consistent income growth and long-term stability. The property benefits from excellent demographics, with an average household income exceeding $116,085 within a one-mile radius and a population over 127,000 within three miles. The asking price is $12,580,000. The lease includes three five-year renewal options. This is a core-plus investment with a single tenant and a proven track record of success. The property's location within a thriving commercial hub, alongside high-profile retailers including a top-performing Kohl's, guarantees exceptional visibility and accessibility.

Location Insight

City

Elk Grove

County

Sacramento

State

California

Latitude

38.4507

Longitude

-121.373

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