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    8438 Elk Grove Florin Rd Elk Grove, CA 95624

    For Sale
    $12,580,000

    High-traffic, NNN-leased fitness center.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    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.

    Property Features for 8438 Elk Grove Florin Rd

    General Information

    Property type
    Individual retail properties
    Lot Size
    90,605 SF

    Building Details

    Year Built
    2023
    Buildings
    1

    HighLights

    • New long‑term lease with built‑in rent increases.
    • Excellent location at a high‑traffic Elk Grove retail intersection.
    • Strong demographics with affluent, growing population.
    • High pedestrian traffic.
    Property Profile Location Intelligence

    Current Use by Public Records

    City Sports Club Gym

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elk Grove
    County
    Sacramento
    State
    California
    Longitude
    -121.3732506
    Latitude
    38.4506885

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    FAQs

    What type of property is this?
    Individual retail property - High-traffic, NNN-leased fitness center.
    Where is this individual retail property located?
    The property is located at 8438 Elk Grove Florin Rd Elk Grove, CA.
    What is the asking price?
    The asking price for this property is $12,580,000.
    What are key features of this property?
    This property features: New long-term lease with built-in rent increases.; Excellent location at a high-traffic Elk Grove retail intersection.; Strong demographics with affluent, growing population.
    (858) 373-3206
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    8438 Elk Grove Florin Rd Elk Grove, CA 95624
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8438 Elk Grove Florin Rd Elk Grove, CA 95624
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