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Views: 23 DOM: 36 Updated: 12.13.24 Posted: 11.16.24 Status: Active

Summary

Price $12,855,000
Built/Renov 2022
Tenant LA Fitness
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 37,000
Lease Start 12-29-2022
#Units 800
Price/SF $347.43
Expiration 12-31-2037
Tenant Type Sport/Fitness
NOI $739,260
R. Term 13.0
Ownership Fee Simple
Rent/SF $19.98
Increases 0.0%/0/yrs
Pop 5Mi 176,188
Lot/AC 4.08
Options 3/5yrs
AHHI 5Mi $150,426

Lease Highlights

  • New 2022 construction
  • 15-year lease with 3 (5-year) renewal options
  • $1.50 per SF rental increases every 5 years
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

The newly constructed prototype design features Fitness International's modern 37,000-square-foot state-of-the-art facility on a 4.08-acre lot with abundant parking and high foot traffic. Strategically located at the high-traffic intersection of US 380 and FM 423, the site benefits from significant synergy within a dynamic retail hub anchored by major national brands like Kroger, Home Depot,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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...


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Listing Broker

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