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Upscale Personal Training and Fitness Business
Asset and Lease Details
I. Assets:
A. The gym is well-equipped with free-weights, strength training machines, and cardio equipment. Included are treadmills, elliptical, recumbent, upright cycle, leg curl, leg press, leg extension, crossover cable, cable row, lat pull down, chin/dip station, multi-hip station, crunch machines, Smith machine, adjustable benches, flat benches, T-bar row and seated calf raise machines. Free weights go up to 150 lbs. plates go up to 45lbs. along with a complete set of bars and dumbbell racks. The owner estimates the equipment value at $150,000. The set of Globe dumbbells are owned personally by the seller and are not included in the sale price.
1. A complete FF&E list is available to a qualified buyer who has signed a confidentiality non-disclosure agreement with Business Ventures of Tampa Bay Inc.
II. Lease: The gym is located in a small strip shopping center on a major commercial street in an upscale suburban area and occupies approximately 2,800 sq. ft. Rent is $2,782 per month (including sales tax). The lease expires August 31, 2011, and has a two-year option to renew that expires on July 31, 2013. In addition the Lessee pays any increases in the rent each year from September 2008. The owner has paid a $1,000 security deposit plus the last month’s rent in advance. Similar expenses plus the first month’s rent will be expected from the new gym owner. The landlord is willing to offer longer lease terms to a new approved owner.
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