loader
Join Free
Views: 130 DOM: 104 Updated: 10.20.24 Posted: 08.09.24 Status: Contract 10.20.24

Summary

Price $3,750,000
Built/Renov 1980
Tenant LA Fitness
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 23,803
Lease Start 12-01-2022
#Units 800
Price/SF $157.54
Expiration 12-31-2034
Tenant Type Sport/Fitness
NOI $300,000
R. Term 10.1
Ownership Fee Simple
Rent/SF $12.60
Increases 15.0%/9/yrs
Pop 5Mi 144,755
Lot/AC 2.20
Options 3/5yrs/15%
AHHI 5Mi $90,399

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 Lincoln Mall Drive, with access to 17,500 vehicles passing by daily. The property is conveniently adjacent to Market Square Crossing, a prime mixed-use redevelopment in one of the southern suburbs' most vibrant villages, which includes a proposed 613 residential units. Additionally, it is situated off I-57 (54,500 VPD) and is only 30 minutes from downtown...

...

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,...


...

Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 4,013 50,794 141,056
2024 Total Population : 4,161 51,743 144,121
2024 Employed Civilian Pop : 1,863 24,853 68,853
2024 Total Businesses : 368 1,472 3,615
2024 Average Household Income : $ 95,598 $ 98,333 $ 104,186
2024 Total Consumer Spending : $ 139 M $ 1747 M $ 5047 M
2024 Median Age : 44 43 41
2024 Total Households : 1,661 20,193 55,126
2024 Pop Age 25+: Bachelor's Degree : 644 7,755 21,709
2024 Average Home Value : $ 300,172 $ 235,012 $ 259,204
*ESRI data is presented for informational purposes only

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