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Views: 117 DOM: 145 Updated: 11.05.24 Posted: 07.30.24 Status: Active

Summary

Price $10,947,000
Built/Renov 2020
Tenant Esporta Fitness
Cap Rate 6.60%
Lease Type Double NN
Guarantor Corp Rated
Size/SF 34,000
Lease Start 01-09-2020
#Units 142
Price/SF $321.97
Expiration 07-31-2035
Tenant Type Sport/Fitness
NOI $722,500
R. Term 10.7
Ownership Fee Simple
Rent/SF $21.25
Increases 0.0%/0/yrs
Pop 5Mi 207,118
Lot/AC 6.73
Options 3/5yrs
AHHI 5Mi $111,139

Lease Highlights

  • Esporta Fitness has 10+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features $1.50/PSF rental increases every 5 years throughout the initial term and option periods
  • Next rental increase is estimated to begin 8/1/2025
  • Limited landlord responsibilities 
  • Corporate guaranteed lease

Location Description

Esporta Fitness is strategically located at the signalized, hard-corner intersection of U.S. Highway 17-92 and State Highway 434, a major retail thoroughfare with access to a substantial combined daily traffic count of 108,400 vehicles. The property is surrounded by well-known national tenants, including Target, Home Depot, Subway, Advance Auto Parts, Lowe’s, Wawa, and more. Additionally, it...

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Maps

  • 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: B2
  • 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
2029 Total Population : 12,676 73,198 208,995
2024 Total Population : 12,186 72,772 207,118
2024 Employed Civilian Pop : 7,102 41,434 119,759
2024 Total Businesses : 678 4,317 12,127
2024 Average Household Income : $ 79,495 $ 101,801 $ 111,139
2024 Total Consumer Spending : $ 365 M $ 2539 M $ 8257 M
2024 Median Age : 40 41 41
2024 Total Households : 5,196 28,547 85,200
2024 Pop Age 25+: Bachelor's Degree : 1,962 13,462 43,259
2024 Average Home Value : $ 333,339 $ 403,835 $ 448,378
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E State Rd 434 East St 2009 30,000 0.10 mi
US Hwy 17 E Church Ave 2009 36,500 0.22 mi
E State Rd 434 Oxford St 2012 28,758 0.23 mi
S Hwy 17/92 E Wildmere Ave 2012 48,500 0.27 mi
Orington Payne P 2022 30,000 0.33 mi
State Rd 434 W Sunshadow Dr 2010 34,500 0.37 mi
Laura St 2022 55,500 0.44 mi
S Hwy 17/92 Laura St 2012 40,976 0.46 mi
State Rd 434 W Timberlane Trl 2012 32,660 0.50 mi
S Grant St 2022 21,000 0.51 mi

Listing Broker

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