Click here to download a PDF of this Newsletter
Property: Decathlon Athletic Club, improved as a private social club that includes a 50-room motel, restaurant/bar facilities, and full athletic club with swimming pool and 6 tennis courts
Buyer: DAC Properties, LTP
Seller: Decathlon Athletic Club
Source: Buyer and Seller
Sale Date: December 28, 1995
Sale Price: $2,136,229 (includes FF&E)
Unit Price: $19.16/sq. ft.
Net Rentable Area: NA
Gross Building Area: 111,500 sq. ft., excluding the tennis bubble
Zoning: FD-1, Freeway Development District
Utilities: All available
Topography and Soil: Level, an underground trunk sewer line bisects north/south through the center of the property
Visibility and Access: Very good visibility and access
Age: 1968; additions in 1977, 1980-1981, and 1986-1987
Land Size: 388,566 sq.ft. (8.92 acres)
Remarks: The sale price at closing totaled $2,136,228.63. The purchase price included all real estate, personal property, as well as rights to any recovery of past property tax relief pending from a tax appeal initiated by the seller. As of this time, the personal property market value and quantification of anticipated property tax recoveries are not determined. The value of personal property and recovery of any past property taxes would have the effect of reducing the above purchase price.
