loader
Join Free
Views: 65 DOM: 38 Updated: 09.07.24 Posted: 08.09.24 Status: Active

Summary

Price $3,750,000
Built/Renov 2006
Tenant LA Fitness
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 15,501
Lease Start 12-01-2022
#Units 800
Price/SF $241.92
Expiration 06-30-2035
Tenant Type Sport/Fitness
NOI $300,000
R. Term 10.9
Ownership Fee Simple
Rent/SF $19.35
Increases 15.0%/10/yrs
Pop 5Mi 282,347
Lot/AC 1.30
Options 3/5yrs/15%
AHHI 5Mi $88,176

Lease Highlights

  • LA Fitness has 10+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 15% rental escalations at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

LA Fitness is strategically located on Cicero Avenue, with access to 36,900 vehicles passing by daily. The property is conveniently situated less than 2 miles from I-294 (150,800 VPD) and is adjacent to the dominant Rivercrest Shopping Center, which attracts over 7.4 million visits annually. The immediate area features well-known national tenants, including OfficeMax, Burlington, Bath & Body...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: LA Fitness
  • Guarantor:Corp Rated
  • Company:Fitness International, LLC
  • # Units:800
  • Tenant S&P: B
  • Moody’s: B2
  • Stock:Private

About Tenant

Fitness International, LLC (dba LA Fitness) is one of the fastest-growing health club chains in the U.S. Founded in 1984 in Los Angeles, CA, today they operate under the brand names LA Fitness,...


...

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity