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!!!

BTI 7815 Farley Gouner CA R/E Lic by clicking on the contact seller button below.

Property information

Real Estate:

Lease

Lease terms:

to be negotiated

Leasehold rent:

$9 per sq ft per annum

Location:

main street south county city Gilroy

Premises details:

7,000 w/a potential rent for a buyer @ $3,850 base rent and $1,650 NNN - seller owns building
and will negotiate re: length of lease and option

Size in square feet:

7,000

Business Operation

Reasons for selling:

The business owner also owns the building and would rather be a landlord.

Trading hours:

Mon-Sunday

Employees:

3 PT

Years established:

6

Other information

Support & training:

two weeks at 40 hours per week

Financing available:

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

Furniture / Fixtures value:

$25,000 (included in the asking price)

Inventory / Stock value:

$1,000 (included in the asking price)