Fitness Center In Gilroy For Sale

Business description

If you are a personal fitness trainer or would like to be paid to stay fit this is the business for
you!!! Note the seller owns the building and will write a new lease for the buyer. A projected base rent of $3,850 and $1,650 NNN per month are acceptable to the owner for the 7,000 sq. ft. facility but the length of the lease, option and annual increases will have to be negotiated. The seller's cash flow has been adjusted to reflect the projected new rent. The seller will not pay a leasing commission. The business was established Jan 2005 and has shown a steady growth since inception. Today the business reports a year round average of apx. 400 members with a peak of 500 during the Xmas season with members paying $17.00 / 19.00 per month plus half the members are assessed a onetime annual maintenance fee of $19.00 in June and the other half are assessed in December. Additional sources of income are from 3 trainers who pay to use the gym with their clients, boxing classes @ $700 per month and hourly rental for the cardio room. The business achieved annual gross revenues of $236,505 in 2011 with a net benefit to the owner of $63,244 for the year. Seller financing is available!!!

Property information

Real Estate:

Lease

Lease terms:

The seller for the business owns the building and will write a new lease for the buyer. The base rent for the 7,000 sq. ft. space will be $3,850 plus $1,650 in NNN charges for a projected rent of .78 cents per sq. ft. Those rates are acceptable to the owner but the length of the lease, option and annual increases will have be negotiated.

Leasehold rent:

$9 per sq ft per annum

Location:

Gilroy CA south of San Jose, CA

Premises details:

The seller for the business owns the building and will write a new lease for the buyer. The base rent for the 7,000 sq. ft. space will be $3,850 plus $1,650 in NNN charges for a projected rent of .78 cents per sq. ft. Those rates are acceptable to the owner but the length of the lease, option and annual increases will have be negotiated.

Size in square feet:

7,000

Business Operation

Reasons for selling:

The seller owns the building and would rather be the landlord.

Trading hours:

Mon - Thurs 5:30 - 10:00 Fri 5:30 - 8:00 Sat 8:00 - 1:00 Sun 9:00 - 1:00

Employees:

3 PT

Years established:

6

Other information

Support & training:

2 weeks for 40 hrs each week

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Seller will carry a 60,000 note for a qualified buyer for 60 months @ 6.5%

Furniture / Fixtures value:

$25,000 (included in the asking price)

Inventory / Stock value:

$1,000 (included in the asking price)