Esporta Fitness

6585 East Broad Street, Columbus, OH 43213

$9,752,787

Cap Rate 7.75%

Views: 212 DOM: 534 Updated: 08.27.24 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 142
Price/SF $216.73	Expiration 06-30-2033	Tenant Type Sport/Fitness
NOI $755,841	R. Term 8.3	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 surrounded by various amenities including Smoothie King, Wingstop, Sunny Street Café, Mount Carmel Urgent Care, East Columbus Oral Surgery Specialists, and more. Adjacent to the property are the Villas at Broadmere condominiums and the Rosebrook Village Apartments, ensuring a built-in customer base. The surrounding area features many national retailers such as Menards, Kroger, Target, Meijer, Hobby Lobby, and more. Esporta Fitness is positioned within one of Columbus' primary retail and commercial corridors, with a significant presence of retail, office, industrial, and 15,130 multifamily units within a 3-mile radius. Mount Carmel East hospital, a prominent healthcare facility, is also located in the corridor. Additionally, a 77-acre site along Taylor Station Road, just 1 mile west of the property, has been approved for mixed-use development, including a 260-unit apartment building, offices, and light industrial space. John Glenn International, Ohio's second largest and busiest airport, is conveniently located roughly 7 miles northwest of the site. The 5-mile trade area is supported by 228,116 residents earning an annual average household income of $88,795. Columbus is the state capital of Ohio and the 14th largest city in the United States, with a metropolitan area population of over 2 million people. It is one of the fastest growing cities in America, with an 11% growth rate from 2011-2021. The city is known for its vibrant downtown, historic neighborhoods, arts and sporting districts, and affordable quality of life. Columbus is located approximately 107 miles from Cincinnati, Ohio.

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Key Features

High traffic 50M+ VPD
Dense retail corridor
Strategically located
Freeway close
Top 100 MSA
Strong demographics
Recently extended lease
Favorable NN+ lease
Corporate Guarantee
Credit rated company

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Links

Esporta Fitness Wikipedia Esporta Fitness Wikipedia Columbus, Ohio Zip Code 43213 Broker Site Page

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Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Esporta Fitness
Guarantor:Corp Rated
Company:Fitness International, LLC
# Units:142
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,...

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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

Chris Bosworth

CBRE: NLPG Atlanta

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133 Listings
23300 Views
77 Sold

Brian Pfohl

CBRE: NLPG Atlanta

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132 Listings
22619 Views
74 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

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135 Listings
23462 Views
76 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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