600 South 5th Avenue
Special Purpose | 17,760 SqFt
Marketing description
This offering is a complete transaction - real estate, operating business, equipment, and member base. The property features a turnkey racquet & fitness club with two connected buildings totaling 17,760 SF on 2.80 acres in Mayodan, NC.
The facility includes a 13,200 SF steel-frame, metal-clad pre-engineered building with 36' clear height housing two indoor tennis courts (convertible to multiple pickleball courts), strength training, and cardio areas. The 4,560 SF brick-clad masonry support building contains reception, office, men's and women's locker rooms with showers, restrooms, and additional indoor fitness/spin space.
Located within a designated federal Opportunity Zone, this irreplaceable specialty asset is the only indoor racquet facility in its trade area, with no comparable indoor tennis or pickleball facility within a 30-minute drive of Mayodan. The property is positioned in northern Rockingham County, approximately 26 miles north of Greensboro and 37 minutes from Piedmont Triad International Airport.
Investment highlights
- 36-ft clear-height indoor court building - cost-prohibitive to replicate at today's construction costs.
- Revenue up 37% from 2023–2025 as a growing operating business, not a static real-estate asset.
- No comparable indoor tennis or pickleball facility within a 30-minute drive of Mayodan.
- Courts reconfigure to 8–10 pickleball courts; pickleball revenue up 137% over three years.
- Federal Opportunity Zone designation delivers material tax incentives to investor-buyers.
- Real estate, operating business, equipment, and member base convey together for a seamless transition.
- The only indoor racquet facility in its trade area. A 36-ft clear-height structure forms a durable barrier to new competition.
- Three consecutive years of revenue growth, led by pickleball- the fastest-growing sport in the U.S., substantiate the demand thesis with real operating data.
- Owner-operators, fitness/racquet chains, and recreation groups can all underwrite the asset, supported by Opportunity Zone tax incentives.
- Reconfiguring courts to 8–10 pickleball courts offers a clear, executable path to higher court-fee and tournament revenue per square foot.
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