The right operator, at the right address, at the right moment.
1000 Van Ness is the largest unanchored fitness opportunity in San Francisco's resurgent retail core. STNDRD brings nearly two decades of operating depth and a turnkey team to a building primed for daily foot traffic and disposable spend.
Apple Cinemas' 14-screen megaplex is projected to draw 4–5k daily visitors directly into the building, with month-over-month revenue growth of 17%.
Monthly Muni boardings on the 49 line — a Top-3 city ridership route — deliver a captive commuter funnel directly to the building entrance.
People within a 1-mile radius, 79,582 households at an average household income of $149,586 — premium-fitness paying density.
Global wellness tourism market — nearly one-fifth of all tourism spending. 53% of U.S. travelers prioritize exercise on the road, turning premium gyms into travel destinations.
A market on the way back.
- · Restaurant reservations +21% YoY, outperforming every major metro
- · After-hours activity recovered to 95% of pre-pandemic levels
- · Van Ness BRT delivered 35% faster travel and a 60% ridership surge
- · Super Bowl LX (Feb 2026) and FIFA World Cup 2026 land directly in the catchment
- · Formula-retail restrictions lifted on the corridor — national brands now welcome
35,537 square feet of restored grandeur.
Originally the historic Cadillac dealership, 1000 Van Ness has been restored into a mixed-use destination with a 34-foot grand lobby, a new café, Apple Cinemas as anchor, and 422 covered parking stalls — a rarity in the urban core.
Three floors. One coherent member journey.
The footprint splits cleanly into a discreet street-level arrival, a flagship training floor, and a dedicated recovery + wellness floor above — exactly the layout STNDRD has been refining since 2008.
Vestibule, reception & elevator/stair entry from Van Ness Ave — a discreet, branded street presence with direct lobby and elevator access to the gym floors above.
Primary training floor — strength & conditioning, cardio, free weights, functional turf, and group fitness studios. Hosts the bulk of member daily activity.
Recovery & wellness — pilates studio, contrast room (sauna + cold plunge), massage / IV treatment rooms, and member lounge.
Powered by Atlantis Strength. Designed to draw a crowd.
A landmark brand partnership with Atlantis Strength — the internationally renowned Canadian strength manufacturer with 40+ years of heritage — brings world-class equipment and a dedicated prototype showroom to 1000 Van Ness.
Years of strength-equipment innovation. Founded by Canadian bodybuilding champion Raymond Sansoucy in 1982 — now Canada's largest commercial strength manufacturer, recognized globally and partnered with Eleiko.
A dedicated Atlantis prototype showroom at 1000 Van Ness — where members experience new equipment before it reaches the global market. A true destination for athletes, influencers, and equipment enthusiasts.
Of American travelers say exercise is important while traveling (Expedia). Wellness tourism is now a $950B global market — nearly one-fifth of all tourism spending — and fitness-first travelers actively seek premium facilities.
The gym is now part of the itinerary.
- · Nearly 30% of adults 18–29 always or often plan holidays around fitness goals (The Gym Group)
- · 1 in 10 young travelers say gym access matters more than good weather when booking a trip
- · 47% say fitness influences holiday decisions more now than five years ago
- · Resort day-pass platforms now partner with 1,300+ luxury hotels — the model is proven and growing
- · Only 10% of Americans skip exercise entirely while traveling — the rest are looking for a facility
STNDRD is the right team for a flagship of this scale.
STNDRD is built on the operational backbone of Fitness Therapy — a Bay Area cornerstone since 2008 with thousands of members served, fifteen trainers on staff, and an active pipeline of premium satellite and flagship facilities.
Two decades of members served.
Founded in 2008, Fitness Therapy has run thousands of group classes and countless 1:1 sessions — from post-rehab recovery to elite performance. That track record is the operating muscle behind every STNDRD location.
A new standard for premium fitness.
STNDRD packages that rigor into a refined, frictionless experience designed for premium urban environments — memberships, training, wellness, and recovery under one operator, one brand, and one set of standards.
Ready Team
15 certified trainers and 3 massage therapists currently active across the network — Van Ness can open with day-one programming.
Standalone Flagship
1000 Van Ness operates as a fully self-contained STNDRD flagship — its own P&L, its own management team, its own membership base. No reliance on any sister site.
Pipeline
Peninsula site with full capital secured; 30,000 SF SF redevelopment in early discussion.
Operations Stack
Fluent in Mindbody, WellnessLiving, Zen Planner and custom-built apps — booking, billing, and member CRM live from day one.
Equipment Familiarity
Deep working knowledge of the full equipment suite plus preventative maintenance protocols to keep downtime minimal.
Reputation
Nearly two decades of landlord and member trust — a partner Lakeside can underwrite, not a first-time operator.
A premium-fitness catchment hiding in plain sight.
The Van Ness corridor pulls from Pacific Heights, Nob Hill, Russian Hill, Hayes Valley, and the Civic Center workforce — high-income households with a strong willingness to pay for premium wellness.
| Demographic | 0.3 mi | 0.5 mi | 1 mi |
|---|---|---|---|
| Population | 18,179 | 50,830 | 148,880 |
| Households | 10,245 | 27,912 | 79,582 |
| Avg HH Income | $109,110 | $106,457 | $149,586 |
| Avg House Value | $1.30M | $1.03M | $1.24M |
Source: AlphaMap demographics derived from the property marketing package. The 1-mile ring also captures the daytime workforce of the Civic Center, Cathedral Hill medical district, and California Pacific Medical Center campus — additional non-resident demand not reflected in the residential figures above.
Crowded floors, broken machines, and locker rooms you'd rather forget.
Within a 5-mile radius of 1000 Van Ness, the existing fitness landscape is dominated by high-volume, low-cost operators where price — not experience — is the only differentiator.
Lunk Alarm culture. Minimal free-weight selection. No recovery. No personal training ecosystem.
Literally next door at 1200 Van Ness. Sport-level facility with chronic overcrowding at peak hours and equipment wait times.
High turnover, class-pack upsells, and a floor plan built for throughput — not for focused training.
The only premium comp in the ring. Beautiful clubs, but no Atlantis partnership, no prototype showroom, and no standalone flagship scale.
Train, don't wait.
- · Capped membership — no overcrowded floors or equipment lines
- · Atlantis prototype showroom — first-access equipment the competition will not have for years
- · Dedicated recovery floor — contrast room, massage, IV therapy under one roof
- · Immaculate standards — full-time cleaning staff, premium finishes, locker rooms designed for comfort
- · Expert-led programming — 15 certified trainers, not hourly floor staff
Why Members Leave Big-Box for Boutique Premium
Equipment Availability
At high-volume gyms, peak-hour wait times for benches, racks, and machines are routine. STNDRD caps membership density so every station is available when you need it.
Cleanliness & Hygiene
Low-cost operators run lean on staffing. STNDRD employs a dedicated cleaning crew and sources premium finishes that stay pristine — because a luxury gym must look and smell like one.
Community & Coaching
Big-box members are anonymous. STNDRD members are known — greeted by name, coached by experts, and connected to a community that shows up for the same standard.
Four independents — the real underwriting reference set.
Operators STNDRD actually competes with and learns from. Each one stress-tests a different lever: tiered pricing (SCAC), premium single-tier ARPU (Evexia), capped-with-waitlist scarcity (CVMPOUND), and a premium wellness + fitness stack on a 12-month contract (Knot Springs). Together they bracket the price, scale, and demand assumptions behind the 650–750 member plan at $200–$250 blended. Equinox-grade equipment is not what drives member sales — programming, atmosphere, and community do.
Santa Cruz Athletic Club
Closest playbook match: gym floor + RedRoom HIIT + heated studio + AURA recovery (red light, cold plunge, HBOT) under one roof. Three tiers — Essential ($84/$106), Core ($174), Core+ ($248) — show how a premium California independent ladders members up the stack. Core+ at $248 lands almost exactly on STNDRD's Regular tier price.
santacruzathleticclub.com/memberships (live rate card, 2026).
Club Evexia
Bay Area peer at a higher ARPU than STNDRD's Regular tier — proves the $300+ price point clears in Marin without an initiation fee or a long contract. Validates the 'fitness + wellness + social' framing supports a premium monthly without the legacy big-box bundle.
clubevexia.com/membership (live, 2025).
CVMPOUND
Direct proof of the capped-membership + waitlist model STNDRD is using. An 11.5K SF independent has saturated demand at $160–$260/mo with recovery lounge + IV therapy. At STNDRD's 3× footprint and 1.4× ARPU, the same scarcity mechanic underwrites the 650-member base cap and the referral-gated stretch to 750.
cvmpound.com/pages/enrollment + /waitlist (live, 2026).
Knot Springs
Pacific Northwest 'wellness social club' blending members-only gym, group fitness, and a hydrotherapy oasis (hot pools, sauna, steam, cold plunge). All Access runs $400/mo on a 12-month contract with a $799 initiation — pricing that lands above STNDRD's Regular tier and proves the recovery + community + fitness stack clears at a premium even outside a wealthy coastal metro. Tiered flexibility (All Access, Wellness Circle, Visit Packs) is the closest analog to STNDRD's ladder strategy and validates the capped-membership + waitlist mechanic in a comparable independent.
knotsprings.com/regulars (live rate card, 2026).
3× CVMPOUND's footprint, comparable to SCAC and Evexia — the proven independent-flagship band in California.
Capped + referral-gated stretch — the same scarcity mechanic CVMPOUND is already running with a live waitlist at a much smaller footprint.
Sits between SCAC Core+ ($248) and Evexia ($349) — premium to the regional floor, accessible relative to true ultra-luxury.
Figures above are drawn from the operators' live published rate cards and public pages. Member counts and square-footage are best-available estimates and are presented as directional benchmarks for the underwriting case, not as audited operator financials.
Base cap 650, stretch to 750 — filled in thirds, priced in stages.
STNDRD is intentionally capped at 650 active members to protect the floor experience that defines the brand. Pre-sale velocity locks in the first third at the Legacy rate, the second third joins during ramp at Standard, and the final third pays the published Regular rate once the facility is stabilised. Beyond 650, the door opens to a curated stretch tier — every new member requires three recommendations from existing members, preserving culture as the community grows to 750.
- Full facility access
- 10% off services & retail
- Legacy-member events
- Full facility access
- 15% off wellness & retail
- Bring-a-guest twice / mo
- Full facility access
- 15% off wellness & retail
- Priority booking & amenities
- Full facility access
- 15% off wellness & retail
- Vetted by the community
Intentional — protects floor density and member experience.
+100 by referral only — 3 recommendations required.
At 650 full fill — memberships are the entire revenue line.
At 750 full fill — +$25,000 from the referral tier.
| Stage | Tier | Members | Price | MRR Contribution | % of Base MRR |
|---|---|---|---|---|---|
| Pre-Sale · Months -6 to 0 | Legacy | 217 | $199 | $43,183 | 30% |
| Ramp · Months 0 to 6 | Standard | 217 | $225 | $48,825 | 33% |
| Stabilised · Month 6+ | Regular | 216 | $250 | $54,000 | 37% |
| Total at base cap | 650 | $225 | $146,008 | 100% | |
| By referral only · Month 12+ | Stretch | 100 | $250 | $25,000 | — |
| Total at stretch cap | 750 | $228 | $171,008 | — | |
Pre-sale Legacy memberships open at lease signing and run through the 6-month build-out — securing ~$43K of MRR before doors open and validating the corridor's willingness to pay. Standard tier carries the ramp through stabilisation. Regular rate is the published price once the waitlist forms. The Stretch tier unlocks only after the base cap is reached and every applicant is endorsed by three existing members, ensuring the community scales without diluting its culture.
From pre-sale to stretch cap — month by month.
Pre-sale Legacy memberships open six months before doors. Standard tier carries the ramp through Month 6. Regular pricing fills the base cap by Month 12, and the referral-gated Stretch tier completes the community by Month 24.
| Milestone | Stage | Legacy | Standard | Regular | Stretch | Total | MRR |
|---|---|---|---|---|---|---|---|
| M-6 | Pre-sale opens at lease signing | 40 | — | — | — | 40 | $7,960 |
| M-3 | Pre-sale momentum | 120 | — | — | — | 120 | $23,880 |
| M0 | Doors open — Legacy capped | 217 | 60 | — | — | 277 | $56,683 |
| M3 | Standard tier ramps | 217 | 160 | — | — | 377 | $79,183 |
| M6 | Standard tier capped | 217 | 217 | 50 | — | 484 | $104,508 |
| M12 | Base cap of 650 filled | 217 | 217 | 216 | — | 650 | $146,008 |
| M18 | Stretch unlocks by referral | 217 | 217 | 216 | 50 | 700 | $158,508 |
| M24 | Stretch cap of 750 | 217 | 217 | 216 | 100 | 750 | $171,008 |
By M-3, 120 Legacy members at $199 validate the corridor before a dollar of build-out risk.
650 members at a blended ~$225/mo — the published underwriting case.
750 vetted members at $171,008/mo. Every Stretch entry requires three existing-member recommendations.
Independent pros. Built-in community. Recurring rental revenue.
Instead of selling personal-training packages, STNDRD houses independent trainers who already have a strong following. They rent floor time, bring their own clients, and become natural leaders on the gym floor — no overhead, no turnover, and no marketing spend required.
Full-time independent trainers renting dedicated floor time at the facility — each with an established book of business and a loyal client base.
Per-trainer monthly rental fee. Pure facility revenue with zero variable cost — a fixed, predictable line item that scales with occupancy.
Existing clients per trainer who are offered a discounted Legacy membership as long as they train with a resident pro.
Conservative conversion of trainer clients into STNDRD memberships at $199/mo — adding 45+ members at no direct acquisition cost.
Leaders on the floor without the overhead.
- · Personable professionals — trainers with strong followings bring energy, accountability, and a built-in culture that money can't buy
- · No PT packages required — the gym does not sell, schedule, or manage personal training; trainers handle their own books and keep their full session rates
- · Direct referrals — members who want training are introduced to available resident trainers with no strings, no markup, and no commission overhead
- · Low turnover — because trainers keep their revenue and control their schedules, they stay longer, stabilising rental income month after month
- · Passive member growth — a conservative 20% capture of each trainer's client book adds discounted memberships that require zero marketing spend to acquire
Facility Rent
15–20 trainers × $1,885/mo = $28,275–$37,700/mo in pure rental revenue with no variable cost attached.
Captured Memberships
At 20.0% capture, resident trainers contribute an additional 45+ members paying the discounted Legacy rate of $199/mo — expanding the community without expanding the marketing budget.
Trainer Retention
By letting trainers operate as independent businesses inside the facility, STNDRD removes the friction that drives turnover at commission-based clubs. Stable tenancy means stable revenue.
Drop-in revenue from a destination corridor that already moves thousands of people per day.
1000 Van Ness sits on one of San Francisco's highest foot-traffic blocks — Apple Cinemas alone moves 4,500 people through the building daily, layered on top of Polk Street tourism, hotel guests, and business travelers. Boutique premium facilities in comparable destination markets capture meaningful drop-in revenue without diluting the member experience.
Passes sold per day across scenarios. Anchored to boutique-premium urban benchmarks (Equinox, Life Time, Bay Club, hotel-partnered flagships) in destination markets.
Per-pass price. Boutique premium in travel markets ranges $40–$150 — STNDRD is positioned mid-range to maximise conversion of high-intent foot traffic.
Conservative to High-Impact. Variable cost is minimal — $6/pass for towel, app credentials, and supplies.
At 22 passes/day × $65/pass. Pure incremental revenue — the facility, staff, and overhead are already in place for members.
Why This Works Here
- · Captive foot traffic — 4,500 Apple Cinemas guests/day in the same building, plus Polk Street tourism and downtown business travelers
- · Hotel partnerships — boutique hotels along Van Ness and Nob Hill have no in-house premium fitness offering; STNDRD becomes the default recommendation
- · No member dilution — drop-in volume is intentionally capped relative to membership, and pricing is set above peer-club day rates to protect the member experience
- · Lead funnel — every day pass is a qualified prospect for full membership; conversion captured for free
- · Near-zero variable cost — fixed staffing covers passes; only towels and credentials scale with volume
- Urban boutique (NYC, LA, SF)$40–$75 · 8–20/day
- Hotel-adjacent / Vegas / Miami$75–$150 · 25–60/day
- Destination wellness (Aspen, Nashville)$60–$100 · 20–50/day
- STNDRD Van Ness (Moderate)$65 · 22/day
Source: IHRSA, ClubIntel premium-club benchmarks, and published rack rates from Equinox, Life Time, Bay Club, Wynn, Fontainebleau, and Remedy Place flagships.
The 5th floor earns its own line on the P&L.
Beyond the contrast room already inside the membership, a dedicated recovery + wellness program turns the upper floor into an ancillary revenue engine — member-priced, drop-in-friendly, and operated alongside (not on top of) the gym.
Outdoor Soaking Pool
Partially covered rooftop soak — the signature contrast moment after the cold plunge.
Zen Deck & Communal Foot Bath
Lush garden, foot-bath bar, and a fire pit — the social side of recovery.
Sensory Deprivation
Float pods and a camera-obscura room. Otherworldly recovery, sold by the session.
Tea House & Performance Space
Floor-seated tea ceremony, acroyoga, and intimate live programming.
Juice Bar & Healthy Café
Cold-pressed juice, matcha, and a bulk apothecary market — F&B that earns its square footage.
Reference mood board courtesy of the Knot Springs expansion program (Portland, OR) — adapted to the 5th-floor footprint at 1000 Van Ness.
Sum of all six wellness lines at moderate-scenario utilisation.
After variable costs, COGS, and practitioner revenue share. Before fixed overhead (already absorbed by gym ops).
Incremental to the membership pro-forma. Subject to the same landlord revenue-share waterfall.
Six lines. One operator. Zero new fixed overhead.
| Stream | Volume | Gross / mo | Net / mo |
|---|---|---|---|
Massage & Bodywork 4 treatment rooms · ~6 sessions/room/day @ blended $145 (60/90 min mix). 12% commission to therapists modeled in net. | ≈ 720 sessions / mo | $104,400 | $52,200 |
Sensory Deprivation Floats 2 float pods · 5 sessions/pod/day @ $80 — 90% utilisation peak hours, 50% off-peak. | ≈ 215 floats / mo | $17,200 | $12,900 |
Contrast Suite Day-Use Cold plunge, sauna, steam, outdoor soak — $45 single-visit pass for members' guests + drop-ins (members included). | ≈ 320 passes / mo | $14,400 | $12,200 |
IV & Recovery Add-Ons IV hydration, B12, NAD+, compression boots — partnership with a licensed clinician on revenue share. | ≈ 140 services / mo | $25,200 | $10,100 |
Juice Bar & Healthy Café Cold-pressed juice, smoothies, matcha, grab-and-go. ~$11 avg ticket, 35% blended COGS. | ≈ 4,500 tickets / mo | $49,500 | $22,000 |
Programmed Events Tea ceremonies, acroyoga, sound baths, breathwork in the performance space — $40 avg, 4 events/wk. | ≈ 65 attendees / wk | $10,400 | $6,200 |
| Total Wellness Program | $221,100 | $115,600 | |
Why It Earns Its Floor
- · Captive demand — every member walks past the recovery floor on the way out; conversion is built into the journey.
- · Premium pricing held — services are not bundled into the membership; they sit at market rates for SF wellness.
- · Variable-cost staffing — therapists, float attendants, and café are scheduled to booked utilisation; no idle payroll.
- · Drop-in halo — sensory deprivation, contrast suite, and the café pull non-members into the building — a second top-of-funnel beside the gym day pass.
- · Brand pull — Knot Springs, Remedy Place, and Othership have proven recovery is now its own destination category, not an amenity.
- 60-min massage (boutique)$135 – $185
- 60-min float session$75 – $99
- Contrast / hydrotherapy day-use$45 – $80
- IV hydration (Myers')$165 – $295
- Cold-pressed juice (16 oz)$10 – $14
- STNDRD Van Ness blendedMid-market premium
Source: published rate cards from Remedy Place SF, Reset by Therabody, Onsen, Archimedes Banya, and Bay Area independents.
Membership pricing, costs, and fixed overhead — fully disclosed.
Every number in the pro-forma derives from these inputs. Revenue comes from three lines — capped memberships, Trainers in Residence (facility rent plus a conservative capture of each trainer's existing client book at a discounted Legacy rate), and Day Passes from the Apple Cinemas / Polk Street foot-traffic corridor.
Membership Pricing
- Legacy (pre-sale, 217 members)$199 / mo
- Standard (ramp, 217 members)$225 / mo
- Regular (stabilised, 216 members)$250 / mo
- Stretch (referral, +100)$250 / mo
- Base cap · Stretch cap650 · 750
- Member variable cost$18 / member / mo
- Blended CAC (acquisition)$65 / new member
Fixed Monthly Costs
- Operations & management$59,800 / mo
- CAM (35,537 SF × $1/yr)$2,961 / mo
- Marketing / retention$8 / member / mo
- Landlord revenue share70 / 65 / 60% of Net Revenue
- ↳ STNDRD 30% <500 mbrs · 35% @ 500 · 40% @ 650 (growth incentive)
Operations covers GM, Asst GM, 4 front-desk shifts, member experience lead, cleaning, software stack, insurance allocation, supplies, security, and baseline utilities.
Three scenarios. Same model. Different fill assumptions.
Each scenario varies only the member count and blended ARPU across the ramp. Fixed costs and revenue share stay constant so you can read the upside of the membership-only model cleanly.
500 members · $218 blended ARPU
| Line | Volume | Gross / mo | Variable | Net Contribution |
|---|---|---|---|---|
| Memberships | — | $109,000 | $9,000 | $100,000 |
| Active members @ blended $218/mo | 500 members | $109,000 | $9,000 | $100,000 |
| Trainers in Residence | — | $37,230 | $810 | $36,420 |
| Resident trainers @ $1,885/mo facility rent | 15 trainers | $28,275 | $0 | $28,275 |
| Trainer-acquired members @ $199/mo (20% capture of 15-client books) | 45 members | $8,955 | $810 | $8,145 |
| Day Passes | — | $19,800 | $2,160 | $17,640 |
| Drop-in day passes @ $55/pass (12/day avg) | 360 passes/mo | $19,800 | $2,160 | $17,640 |
| Operations (fixed) | — | — | $59,800 | ($59,800) |
| Marketing | — | — | $4,000 | ($4,000) |
| CAM | — | — | $2,961 | ($2,961) |
| Net Revenue | $87,299 | |||
| Landlord share (65.0%) | $56,744 | |||
| STNDRD share (35.0%) | $30,555 |
650 members · $225 blended ARPU
| Line | Volume | Gross / mo | Variable | Net Contribution |
|---|---|---|---|---|
| Memberships | — | $146,250 | $11,700 | $134,550 |
| Active members @ blended $225/mo | 650 members | $146,250 | $11,700 | $134,550 |
| Trainers in Residence | — | $46,865 | $1,170 | $45,695 |
| Resident trainers @ $1,885/mo facility rent | 18 trainers | $33,930 | $0 | $33,930 |
| Trainer-acquired members @ $199/mo (20% capture of 18-client books) | 65 members | $12,935 | $1,170 | $11,765 |
| Day Passes | — | $42,900 | $3,960 | $38,940 |
| Drop-in day passes @ $65/pass (22/day avg) | 660 passes/mo | $42,900 | $3,960 | $38,940 |
| Operations (fixed) | — | — | $59,800 | ($59,800) |
| Marketing | — | — | $5,200 | ($5,200) |
| CAM | — | — | $2,961 | ($2,961) |
| Net Revenue | $151,224 | |||
| Landlord share (60.0%) | $90,734 | |||
| STNDRD share (40.0%) | $60,489 |
750 members · $228 blended ARPU
| Line | Volume | Gross / mo | Variable | Net Contribution |
|---|---|---|---|---|
| Memberships | — | $171,000 | $13,500 | $157,500 |
| Active members @ blended $228/mo | 750 members | $171,000 | $13,500 | $157,500 |
| Trainers in Residence | — | $53,620 | $1,440 | $52,180 |
| Resident trainers @ $1,885/mo facility rent | 20 trainers | $37,700 | $0 | $37,700 |
| Trainer-acquired members @ $199/mo (20% capture of 20-client books) | 80 members | $15,920 | $1,440 | $14,480 |
| Day Passes | — | $78,750 | $6,300 | $72,450 |
| Drop-in day passes @ $75/pass (35/day avg) | 1,050 passes/mo | $78,750 | $6,300 | $72,450 |
| Operations (fixed) | — | — | $59,800 | ($59,800) |
| Marketing | — | — | $6,000 | ($6,000) |
| CAM | — | — | $2,961 | ($2,961) |
| Net Revenue | $213,369 | |||
| Landlord share (60.0%) | $128,021 | |||
| STNDRD share (40.0%) | $85,347 |
The shape of upside.
Even the conservative case clears fixed costs and produces a meaningful annual landlord share. The moderate case — within reach in year two — is where the deal becomes a flagship economic story.
| Metric | Conservative | Moderate | High-Impact |
|---|---|---|---|
| Active members | 500 | 650 | 750 |
| Blended ARPU | $218 | $225 | $228 |
| Gross revenue / mo | $166,030 | $236,015 | $303,370 |
| Variable costs / mo | $11,970 | $16,830 | $21,240 |
| Ops + Marketing + CAM / mo | $66,761 | $67,961 | $68,761 |
| Net revenue / mo | $87,299 | $151,224 | $213,369 |
| Annual to Landlord | $680,929 | $1,088,810 | $1,536,254 |
| Annual to STNDRD | $366,654 | $725,873 | $1,024,169 |
| Revenue / SF / yr | $56 | $80 | $102 |
A revenue share that aligns landlord and operator.
The ownership group funds 100% of the build — construction, TI, and gym-ready shell — in exchange for a larger revenue share. No fixed base rent. The building wins when the facility wins, and STNDRD carries the day-to-day operational risk.
Revenue Share
- · Tiered split tied to membership growth — incentivises STNDRD to drive fill velocity:
- — < 500 members: 70% Lakeside / 30% STNDRD
- — ≥ 500 members: 65% Lakeside / 35% STNDRD
- — ≥ 650 members: 60% Lakeside / 40% STNDRD
- · Net Revenue = Gross Revenue − variable cost of services − fixed ops − marketing − CAM
- · Monthly reporting and quarterly true-up; full P&L transparency
- · CAM passed through at $1 /sf/yr on 35,537 SF
Term & Build-Out
- · 10-year term with two 5-year options
- · Ownership group funds 100% of construction and TI to deliver gym-ready shell
- · STNDRD funds FF&E, equipment, branding, and tech stack
- · Ramp window before revenue share begins — no rent obligation during pre-opening
- · Performance reset at month 18 if member count is below conservative case
A flagship lease that performs like a partnership.
STNDRD operates the 35,537 SF facility under a revenue share that protects Lakeside's downside and shares the upside. The moderate case clears nearly $1M/yr to the landlord — without putting a single dollar of rent risk on the building.
Next steps.
- 1. Walkthrough with STNDRD operations + Lakeside leasing team
- 2. LOI on revenue-share structure and TI scope
- 3. Detailed build-out scope and opening timeline (target 8–10 months post-LOI)
- 4. Pre-leasing campaign — legacy memberships open at lease signing