Profitable Functional Fitness Gym in NYC - Absentee Owner

Manhattan, NY (New York County)

Profitable Functional Fitness Gym in NYC - Absentee Owner
Contact Seller

Asking Price: $232,000

Cash Flow: N/A

Gross Revenue: $552,470

EBITDA: N/A

FF&E: $73,000

Inventory: $50,000

Rent: $8,900 /Month

Established: 2014

Profitable Functional Fitness Gym in NYC - Absentee Owner

Save Print Share Valuation Report

Business Description

Profitable Functional Fitness Gym in NYC - Absentee Owner

Legally steal this profitable CrossFit gym for sale in NYC. The owner has moved out of state and wants to sell. Take this opportunity to get a highly profitable gym full of members for less than the price of starting one of your own. Priced to move quickly, so take advantage of this while it's still available.

The lease :

This space is the perfect space for a CrossFit-- you can make as much noise as you want, whenever you want. There hasn't been a single noise complaint since the gym opened. There have been multiple lawsuits over noise in NYC and finding a space where you can drop weights is incredibly difficult.

We have an assignable 10-year lease with 6 years left. The space has 4,000k+ square feet and 3,200 usable square feet after you take out the loss factor. Our current base rent is about $8900 w/ 3% annual escalations. I haven't found anything close to this price in the last year. I viewed a comparable space and the base rent was $13,000. It had lower ceilings and a load bearing wall going down the center of it. If you been looking around for gym space in the city, you can appreciate what a good deal this is.

Compared similar spaces on the market now, you'll be saving about $400,000 over the remainder of the lease.

Right now staff consists of a GM, 1 full-time coach and a few part-time coaches and front desk staff. All of them are well trained.

The other intangibles that are valuable: we have some of the best Google, Yelp, and Facebook out of any gym in NYC.

As of today, the gym has over 200 members, and you could probably push the membership to 300 by adding more class times.

This is a great opportunity for a well trained owner/operator that understands the NYC market.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
4,000
Lease Expiration:
N/A
Employees:
7
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Facilities & Assets -$73k of top-of-the-line equipment -$50k for Physical Culture Establishment - permit that is required for all gyms in NYC. This permit is very difficult to get and can take up to 24 months. If you were starting a gym on your own, you'd be paying rent during that time. -$60k in build out which includes full showers
Competition:
This space is the perfect space for a CrossFit-- you can make as much noise as you want, whenever you want. There hasn't been a single noise complaint since the gym opened. There have been multiple lawsuits over noise in NYC and finding a space where you can drop weights is incredibly difficult. Compared similar spaces on the market now, you'll be saving about $400,000 over the remainder of the lease.
Growth & Expansion:
Growth / Expansion Pros Opportunity to expand by increasing class schedule, offering more private and semi-private training, and offering more retail.
Financing:
No Seller Financing
Support & Training:
Support & Training Current owner will stay on for two weeks to help train new owners.
Reason for Selling:
The owner has moved out of state and wants to sell.
Contact Seller

Business Location


Contact the Seller

Contact Seller Loading

Business Listed By:
John Franklin

Show Phone Number

Listing Statistics

Saved This Listing:
Unlock
Days Active On Site:
Unlock
Appeared in Search:
Unlock
Listing Detail Views:
Unlock


Ad#:1589801 Report an issue with this listing

The information in this listing has been provided by the business seller or representative stated above. BizBuySell has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness.
Read BizBuySell's Terms of Use before responding to any ad.


Similar Listings


Great Skin Spa & Skin Care

Franchise Opportunity
Capital Required: $242,000