Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of 24 Hour Fitness, a 26,376-square foot net-leased property located in Henderson, NV. The asset sold for $4,515,000.
Dustin R. Alvino and Darren J. Alvino, investment specialists in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a private investor. ‘The strength of the health club industry made the deal attractive,” said Darren Alvino. Adding that, “multiple revenue streams, a prepaying customer base that provides annuity-like income and an overall membership count that has doubled in size over the last ten years are all factors that contribute to the tenant’s success, which in turn provided the security this property investor wanted.”
This 24 Hour Fitness is located at 2893 N Green Valley Pkwy in Henderson, NV. The property itself consisted of approximately 26,376 square feet of leasable space situated on a total of 3.07 acres of land across both parcels.