Calabasas, CA - Calabasas Pickleball Club

Description:

SRS National Net Lease is pleased to offer the generational opportunity to acquire the enterprise and fee simple interest (land & building ownership) in the Calabasas Pickleball Club investment property. The offering includes 6+ acres in the highly sought-after city of Calabasas, California. The site borders the Hidden Hills community, the most exclusive gated residential area in Los Angeles County boasting an average home value exceeding $5M (per Zillow), and a long list of exceptionally wealthy and high-profile residents. The tenant receives a significant amount of consumer traffic and membership from the adjacent Hidden Hills community, the city of Calabasas, and its proximity to downtown Los Angeles. The surrounding trade area features over 183,800 residents and 111,200 employees within a 5-mile radius, and an average household income of $258,046 within 1-mile, providing a direct, affluent consumer base from which to draw.

Furthermore, the subject property is easily accessible via on/off ramps of the 101 Freeway (192,000 VPD), a heavily trafficked highway serving commuters along the western coastline. The area directly across the 101 Freeway features a strong retail corridor highlighted by a pair of top performing retail centers: The Commons at Calabasas and El Camino Shopping Center. The retail centers individually rank in the top 93rd percentile among shopping centers nationwide, amassing a combined 8.3M+ annual visits (per Placer.ai), featuring national/credit tenants such as Bristol Farms, Ralphs, and Barnes & Noble. The immediate area has significant barriers to entry given its location in one of the top markets within a highly competitive Southern California retail market. The offering features 16 newly built state-of-the-art pickleball courts, a clubhouse, common area, and equestrian land. The asset is ideal for both hands-on and passive investors as the oversized lot allows for further development, while other land use, such as residential redevelopment, is permissible given the site’s Rural Residential (RR) zoning.