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Views: 10 DOM: 9 Updated: 09.09.24 Posted: 09.09.24 Status: Active

Summary

Price $22,475,000
Built/Renov 1977/2014
Tenant LA Fitness
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 50,441
Lease Start 07-01-2024
#Units 800
Price/SF $445.57
Expiration 06-30-2035
Tenant Type Sport/Fitness
NOI $1,123,848
R. Term 10.9
Ownership Fee Simple
Rent/SF $22.28
Increases 10.0%/1/yrs
Pop 5Mi 633,531
Lot/AC 2.87
Options 3/5yrs/10%
AHHI 5Mi $114,700

Lease Highlights

  • LA Fitness has 10+ years remaining on the current lease term with 2 (5-year) and 1 (4-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

LA Fitness is strategically located on Talbert Avenue, with access to 29,389 vehicles passing by daily. The property is conveniently situated just off Interstate 405, which sees 320,789 VPD, and is adjacent to Orange Coast Medical Center. It is also less than a mile from Fountain Valley Promenade. Nearby national tenants include Sam's Club, T.J. Maxx, Ralphs, Starbucks, Five Below, and more....

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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,...


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Listing Broker

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