Property Listing No Longer Available for Sale

7955 Broadview Road, Broadview Heights, OH

Retail for Sale - $5,600,000


Property Info

CIMLS#12123
Location
  7955 Broadview Road
  Broadview Heights OH 44147
UpdatedJuly 7th, 2006
TypeRetail
Price$5,600,000

Property Description

Marcus & Millichap is pleased to present this Bally Total Fitness for sale. The property is in a superb location in Broadview Heights Ohio, which is located within the Cleveland metro area. The current lease has close to 7 years remaining and is an absolute net lease with no owner expenses. This investment offers the opportunity for an investor to purchase a top retail location with an established operator in place. As the health fitness trend continues to grow in the United States, Bally's is well positioned for further growth and has a strong market share in this segment. Bally Total Fitness is the largest and only nationwide commercial operator of fitness centers with over 400 club locations in the USA, Canada, the Caribbean, Mexico, Korea, and China. Today, the membership is over 4 million members and growing as plans for new clubs continues.


Financials

Listed at a 7.08% Cap Rate with a base rent of $396,251. Debt service listed at $340,304 leaving $55,947 Net Cash Flow After Debt Service.