501 County Farm RdWheaton, IL 60187

Property Details for 501 County Farm Rd

Year built

2000

Lot size

6.97 AC

Property size (Sq ft)

64,384 SF

Zone code

C

Property type

Sports & entertainment properties

APN

05-18-440-005

APU

518440005

Description

This exceptional investment opportunity presents a fee-simple ownership of a 65,936-square-foot VASA Fitness facility situated on a 7-acre lot at 501 S County Farm Road, Wheaton, IL 60187. The property boasts a brand-new, 14.6-year net lease (commencing March 31, 2024 and expiring October 31, 2038) with a corporate guarantee from VASA Fitness, a rapidly expanding fitness leader. The current annual net operating income (NOI) stands at $989,040, yielding an attractive 8.25% cap rate. Built in 1980 and completely renovated in 2024, the property benefits from a strategic location shadow-anchored by Target and within a 30-minute radius of Chicago. The affluent community surrounding the gym boasts an average household income exceeding $139,600. The lease includes a $1.00 per square foot rental increase every five years, ensuring consistent income growth. This is a 100% occupied, single-tenant property offering significant long-term value and stability in a prime location. The asking price is $11,988,363, translating to a price per square foot of $181.82. Detailed financial information is available upon request.

• Alternative Use

  Use

  Valuation

  Residential

  $13,306,492

  Hospitality

  $12,188,675

  Educational

  $10,140,835

  Medical

  $10,489,593

  Retail

  $15,774,632

Location Insight

City

Wheaton

County

Dupage

State

Illinois

Latitude

41.8604

Longitude

-88.1401

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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