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Views: 65 DOM: 213 Updated: 04.22.24 Posted: 10.17.23 Status: Active

Summary

Price $9,752,787
Built/Renov 2015
Tenant Esporta Fitness
Cap Rate 7.75%
Lease Type NN+
Guarantor Corp Rated
Size/SF 45,000
Lease Start 06-18-2015
#Units 132
Price/SF $216.73
Expiration 06-30-2033
Tenant Type Sport/Fitness
NOI $755,841
R. Term 9.1
Ownership Fee Simple
Rent/SF $16.80
Increases 10.0%/3/yrs
Pop 5Mi 228,116
Lot/AC 3.49
Options 3/5yrs/10%
AHHI 5Mi $88,795

Lease Highlights

  • Esporta Fitness’ net lease was extended through 2033 and now features 9+ years of term remaining with rent increases (lesser of CPI or 10%) in 2025 and in each of the 3 (5-year) renewal options
  • By visits, Esporta Fitness ranks among the top 17% of fitness centers within a 15-mile radius, the top 24% throughout Ohio, and the top 26% nationwide, according to Placer.ai.
  • Favorable NN+ lease with landlord responsible for roof & structure
  • Corporate guaranteed lease

Location Description

Esporta Fitness is situated on East Broad Street, benefiting from a high traffic volume of 56,311 vehicles. It is conveniently located near the intersection of Reynoldsburg and New Albany Road, which sees approximately 10,359 VPD. The property is also 1.2 miles east of Interstate 270, which has a traffic volume of 113,024 VPD.The Eastglen Exchange development, where the property is located, is...

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Maps

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  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Esporta Fitness
  • Guarantor:Corp Rated
  • Company:Fitness International, LLC
  • # Units:132
  • Tenant S&P: B-
  • Moody’s: B3
  • Stock:Private

About Tenant

Esporta Fitness is a brand new fitness model operating under the LA Fitness umbrella of clubs. Members have access to the spa, pool and private lockers, depending on their membership package, and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 10,574 93,552 230,011
2023 Total Population : 10,689 93,122 227,323
2023 Employed Civilian Pop : 5,846 48,189 116,660
2023 Total Businesses : 487 2,803 6,290
2023 Average Household Income : $ 89,676 $ 87,883 $ 88,856
2023 Total Consumer Spending : $ 337 M $ 2833 M $ 6803 M
2023 Median Age : 38 38 37
2023 Total Households : 4,346 37,169 88,236
2023 Pop Age 25+: Bachelor's Degree : 2,060 14,814 33,272
2023 Average Home Value : $ 241,080 $ 261,494 $ 265,101
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Shadymere Ln E Broad St 2010 355 0.13 mi
East Broad Street Chris Perry Ln 2021 49,291 0.14 mi
E Broad St Shadymere Ln 2010 47,379 0.15 mi
E Broad St Chris Perry Ln 2010 48,170 0.16 mi
E Broad St Rosehill Rd 2010 34,842 0.23 mi
Outerbelt St E Broad St 2007 2,220 0.24 mi
E Broad St Rosehill Rd 2010 52,070 0.25 mi
E Broad St Outerbelt St 2014 44,998 0.25 mi
Rosehill Rd E Broad St 2010 6,446 0.25 mi
E Broad St Outerbelt St 2011 3,913 0.28 mi

Listing Broker

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