LA Fitness

745 Arden Lane, Rock Hill, SC 29732

$8,320,258

Cap Rate 7.75%

Views: 85 DOM: 577 Updated: 08.27.24 Posted: 02.17.23 Status: Active

Summary

Price $8,320,258	Built/Renov 2015	Tenant LA Fitness
Cap Rate 7.75%	Lease Type Abs NNN	Guarantor Corp Rated
Size/SF 38,000	Lease Start 02-27-2016	#Units 716
Price/SF $218.95	Expiration 02-28-2034	Tenant Type Sport/Fitness
NOI $644,820	R. Term 9.5	Ownership Fee Simple
Rent/SF $16.97	Increases 10.0%/5/yrs	Pop 5Mi 101,905
Lot/AC 5.23	Options 3/5yrs/10%	AHHI 5Mi $88,120

Lease Highlights

LA Fitness has been operating at this location since 2015
By visits, this LA Fitness location ranks among the top 16% of all fitness centers locally (15-miles), the top 23% in South Carolina and top 31% nationwide, per Placer.ai.
The tenant has over 10 years remaining on its current lease term with 3 (5-year) options to extend
Lease features 10% rent increases every 5 years throughout the initial term and each option
Absolute NNN lease zero landlord responsibilities
Corporate guarantee by Fitness International LLC

Location Description

LA Fitness is strategically located along Arden Lane, right off Herlong Avenue, which sees over 23,400 VPD and is less than 4 miles away from Interstate 77 which averages 114,400 VPD. The asset anchors Millwood Shopping Center (184,000 SF) with tenants including Chico’s, Alta, Talbots, Smoothies King, McAlister’s Deli, Hibachi Express, Poke Bowlz and over 44,000 SF of medical office space. The...

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Key Features

Major thoroughfare
Strategically located
Hospital close
Strong tenant synergy
Dense 100M+ pop 5 mi
Affluent suburb location
Recently extended lease
Limited competition
Corporate Guarantee

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Links

LA Fitness Wikipedia LA Fitness Wikipedia Rock Hill, South Carolina Zip Code 29732 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Fitness International, LLC
Guarantor:Corp Rated
Company:Fitness International LLC
# Units:716
Tenant S&P: B-
Moody’s: B3
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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,065	59,534	109,304
2023 Total Population :	8,833	56,109	102,686
2023 Employed Civilian Pop :	4,450	26,971	50,500
2023 Total Businesses :	480	2,225	3,503
2023 Average Household Income :	$ 85,224	$ 83,622	$ 88,569
2023 Total Consumer Spending :	$ 289 M	$ 1647 M	$ 3179 M
2023 Median Age :	41	37	37
2023 Total Households :	3,927	22,678	41,333
2023 Pop Age 25+: Bachelor's Degree :	2,219	9,118	16,818
2023 Average Home Value :	$ 330,938	$ 290,943	$ 303,169

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Herlong Avenue	Chanting Bird Dr	2021	19,900	0.20 mi
South Herlong Avenue	Constitution Blvd	2021	23,400	0.39 mi
Ebenezer Rd	Bailey Ave	2012	7,300	0.71 mi
Ebenezer Road	Fredrick St	2021	10,900	0.79 mi
India Hook Road	Shadowbrook Dr	2021	7,600	0.82 mi
Constitution Boulevard	Hancock Union Ln	2021	10,400	0.85 mi
Constitution Blvd	Hancock Union Ln	2017	11,200	0.88 mi
Ebenezer Road	Twin Lakes Rd	2021	10,100	0.90 mi
Twin Lakes Road	Coventry Ln	2021	4,700	0.93 mi
Charlotte Avenue	Glendale Dr	2021	2,700	0.99 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

128 Listings
12620 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

128 Listings
12789 Views
60 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

130 Listings
12822 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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