501 County Farm RdWheaton, IL 60187

For Sale
$11,988,363

High-performing gym; strong lease; 8.25% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a fee-simple ownership of a 65,936-square-foot VASA Fitness facility situated on a 7-acre lot at 501 S County Farm Road, Wheaton, IL 60187. The property boasts a brand-new, 14.6-year net lease (commencing March 31, 2024 and expiring October 31, 2038) with a corporate guarantee from VASA Fitness, a rapidly expanding fitness leader. The current annual net operating income (NOI) stands at $989,040, yielding an attractive 8.25% cap rate. Built in 1980 and completely renovated in 2024, the property benefits from a strategic location shadow-anchored by Target and within a 30-minute radius of Chicago. The affluent community surrounding the gym boasts an average household income exceeding $139,600. The lease includes a $1.00 per square foot rental increase every five years, ensuring consistent income growth. This is a 100% occupied, single-tenant property offering significant long-term value and stability in a prime location. The asking price is $11,988,363, translating to a price per square foot of $181.82. Detailed financial information is available upon request.

Highlights

  • Brand new 15-year net lease with VASA Fitness, a rapidly growing fitness leader.
  • 2024-built, 65,936 square foot fitness center.
  • $1.00/SF rental increases every 5 years.
  • Shadow-anchored by Target, 30 minutes from Chicago.
  • High-performing location.
  • Located in an affluent community with average household income over $139,600.

Property Details for 501 County Farm Rd

Property type
Other retail properties, Retail properties
Square Feet
65,936 SF
Year Built/Renovated
1980/2024
Lot Size (sq. ft)
304,920 SF

Location Insight

City
Wheaton
County
DuPage
State
Illinois
Latitude
41.8607479
Longitude
-88.1402713
501 County Farm Rd, Wheaton, Illinois

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501 County Farm Rd
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