27 Central Ave Killdeer, ND 58640

Property Details for 27 Central Ave

Year built

1962

Property size

2,488 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a thriving fitness center located at 27 Central Ave SE, Killdeer, ND 58640. The 2,488 square foot facility, built in 1962 and situated on a 7,000 square foot lot, is zoned for commercial use and features one story. The asking price is $160,000, representing a price per square foot of $64.31 and a compelling 13.04% cap rate with a Net Operating Income (NOI) of $20,860. The gym boasts a loyal membership base, currently at 63 members with a monthly fee of $40 (excluding month-to-month members). Financial records from January 1st to June 30th, 2024, show membership income of $17,137.10 and base expenses totaling $8,020.53 (including insurance, advertising, supplies, and property taxes). 2023 financial data is available upon request. The gym features a remodeled bathroom and shower area, a private office, a built-in security system, and an automatic door. Recently updated with two brand-new treadmills, the gym is fully equipped with a comprehensive range of machines and free weights. The building purchase can be considered separately from the business. This turnkey operation offers significant potential for future growth and is an ideal investment for an entrepreneur seeking a profitable and established business in a thriving community. The property is located in Dunn County, North Dakota.

Location Insight

City

Killdeer

County

Dunn

State

North Dakota

Longitude

-102.752

Latitude

47.37