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24 Hour Fitness 1131 W Arbrook Blvd 51,637 SF Retail Building Arlington, TX 76015 For Sale
Investment Highlights
- The current 24 Hour Fitness is sitting at a significantly below market rent at $12 Rent PSF. Current Market rents are between $18-$22 Rent PSF.
- The zoning also allows for a Hotel and Convention Center.
- The Parks Mall at Arlington ranks as one of the most visited Malls in the country (7.9 Million visits per year).
- The 24-hour fitness sits on a large 5.7 AC and is zoned CC (Community Commercial), Which allows for most retail uses.
- The 24-hour fitness sits across from the Arlington Mall and many other tenants nearby, including Target, Macy’s, Costco, Lowe’s, Burlington, etc
Executive Summary
The 24-hour has 1.5 years of term left with rent bumps every 6 months till the end of the lease, allowing the new owner to either find a tenant to backfill the space or go through the process of Re-zoning the site for the desired use.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
51,637 SF
Building Class
B
Year Built
1995
Tenancy
Single
Building Height
2 Stories
Building FAR
0.21
Lot Size
5.73 AC
Frontage
393’ on W Arbrook Blvd
Amenities
- Dedicated Turn Lane
Walk Score®
Very Walkable (79)
Nearby Major Retailers
Property Taxes
| Parcel Number | 06832628 | Improvements Assessment | $5,751,986 |
| Land Assessment | $1,498,014 | Total Assessment | $7,250,000 |
Property Taxes
Parcel Number
06832628
Land Assessment
$1,498,014
Improvements Assessment
$5,751,986
Total Assessment
$7,250,000
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24 Hour Fitness | 1131 W Arbrook Blvd
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