10011 Broadway St | Pearland, TX 77584
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- LoopNet Team
10011 Broadway St
Pearland, TX 77584
24 Hour Fitness · Retail Property For Sale
Investment Highlights
- 10+ years remaining on corporate NN lease with 9% rental increases every 5 years starting January 1, 2028 (See rent roll for details)
- Non Recourse Debt Available to be Assumed – 10.2% Cash on Cash / 15% Total Return
- 24 Hour Fitness 2019 revenue (pre-COVID) – $1.471B
- Above market 22.7% rental increase on January 1, 2024
- Lease is fully guaranteed by tenant’s parent company – 24 Hour Fitness Worldwide, Inc.
- Affluent residential demographics – average household income of $129,271 within a 3-mile radius of the subject property
Property Facts
Property Type
Retail
Property Subtype
Health Club
Building Size
39,856 SF
Building Class
B
Year Built/Renovated
2006/2012
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
5.65 AC
Zoning
C - Commercial
Parking
350 Spaces (8.78 Spaces per 1,000 SF Leased)
Frontage
844’ on Miller Ranch Rd
Amenities
- Monument Signage
Property Taxes
| Parcel Number | 7033-0001-000 | Improvements Assessment | $8,568,220 |
| Land Assessment | $1,331,780 | Total Assessment | $9,900,000 |
Property Taxes
Parcel Number
7033-0001-000
Land Assessment
$1,331,780
Improvements Assessment
$8,568,220
Total Assessment
$9,900,000
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