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Views: 65 DOM: 48 Updated: 07.30.24 Posted: 07.30.24 Status: Active

Summary

Price $11,115,000
Built/Renov 2020
Tenant Esporta Fitness
Cap Rate 6.50%
Lease Type Double NN
Guarantor Corp Rated
Size/SF 34,000
Lease Start 01-09-2020
#Units 142
Price/SF $326.91
Expiration 07-31-2035
Tenant Type Sport/Fitness
NOI $722,500
R. Term 10.10
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 11 years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features $1.50/PSF rental escalations 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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Listing Broker

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