Key Assets

Health and Fitness Clubs — Turn Key

Suburban Milwaukee – Combined 2013 EBITDA = $6.1 Million

BID DEADLINE OF SEPTEMBER 22 

Our firm has been engaged to sell 4 complete health and fitness facilities in suburban Milwaukee, Wisconsin to the highest and best bidder(s), either individually or in any combination.   These are going concern operations that include real estate and equipment. An accelerated sale process in underway in the US Bankruptcy Court for the Eastern District of Wisconsin with an anticipated auction date of September 29.

 

SOUTHWEST FACILITY

Address:  11311 W Howard AV Greenfield, WI  53228

Built:                      1986

Acres:                     12.87

Square Feet:         74,175

EBITDA:                  $1,275,617

Retention:            57.3%

Membership as of 6/8/2014: 5,948

Highlights:            

Provides a full range of programs including health and wellness, youth sports, aquatics, day camp and youth programs.  It is an important destination for kids and families from Milwaukee, Franklin, Greendale, Greenfield, Hales Corners, New Berlin and other surrounding communities. Lap pool, whirlpool, (2) multiple gymnasiums, locker rooms, member engagement room, child watch area, member lounge, community meeting room, a large cardio and strength workout area, group exercise studios, classrooms, and an indoor running/walking track.

Broker’s Opinion of Value:  $4.47 million                       Minimum Bid:  $1.35 million

 

TRI COUNTY FACILITY

Address: N84 W17501 Menomonee AVE, Menomonee Falls, WI  53052

Built:                      1982

Acres:                     21.32

Square Feet:         68,900

EBITDA:                  $1,614,064

Retention:            66.6%

Membership as of 6/8/2014: 5,862

Highlights:            

Conveniently located, the Tri-County location serves kids and families in Menomonee Falls, Germantown, Sussex and the other northwest suburbs of Milwaukee with a full range of programs, including health and wellness, youth sports, aquatics, day camp and youth programs. Adventure pool, lap pool, whirlpool, gymnasium, locker rooms, member engagement room, child watch area, member lounge, community meeting rooms, racquetball/handball courts, classrooms and a large cardio and strength workout area and group exercise studios.    

Broker’s Opinion of Value:  $ 3.25 million                      Minimum Bid:  $1.35 million

 

WEST SUBURBAN FACILITY

Address: 2420 N 124th ST, Wauwatosa, WI  53226

Built:                      1971

Acres:                     8.59

Square Feet:         84,800

EBITDA:                  $2,135,368

Retention:            59.5%

Membership as of 6/8/2014:  7,685

Highlights:            

For over 30 years, the West Suburban location has been a fixture in the Wauwatosa com­munity.  Generations of families have taken part in a full range of programs including health and wellness, youth sports, aquatics, day camp and youth programs. Lap pool, whirlpool, gymnasium, locker rooms, member engagement room, child watch area, member lounge, community meeting room, classrooms, a large cardio and strength workout area, racquetball/handball courts, group exercise studios and an indoor running/walking track.

Broker’s Opinion of Value:  $ 3.07 million                      Minimum Bid:  $1.35 million

 

FEITH FAMILY OZAUKEE FACILITY

Address: 465 Northwoods Road Port Washington, WI 53074

Built:                      1999

Acres:                     21.5

Square Feet:         50,000

EBITDA:                  $557,260

Retention:            70.1%

Membership as of 6/8/2014:  3,513

Highlights:            

The Feith Family Ozaukee facility brings programs and services to Port Washington, Saukville, Grafton, Cedarburg and surrounding communities.  This facility is a great place for families, with a gymnasium, adventure pool and family prime time center.  Lap pool, whirlpool, gymnasium, locker rooms, strength training equipment, basketball courts, volleyball court, family center, athletic fields and outdoor running/walking track.

Broker’s Opinion of Value:  $ 3.75 million                      Minimum Bid:  $2.10 million

 

This is a tremendous opportunity to buy turnkey fitness businesses complete with all equipment, currently generating substantial positive cash flow. These suburban locations are currently owned by the YMCA of Metropolitan Milwaukee, and are being sold as a plan to focus on their inner city facilities and youth programs.