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Views: 110 Updated: 10.14.24 Posted: 02.16.24 Status: Inactive 10.09.24

Summary

Price $15,717,000
Built/Renov 2023
Tenant LA Fitness
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp Rated
Size/SF 41,000
Lease Start 09-01-2023
#Units 800
Price/SF $383.34
Expiration 08-31-2038
Tenant Type Sport/Fitness
NOI $943,000
R. Term 13.9
Ownership Fee Simple
Rent/SF $23.00
Increases 0.0%/4/yrs
Pop 5Mi 462,777
Lot/AC 4.94
Options 4/5yrs
AHHI 5Mi $113,495

Lease Highlights

  • New 2023 construction
  • LA Fitness has 13+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features rental increases by the lessor of CPI or $2.00/PSF every 5 years throughout the initial term and each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

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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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 15,710 147,144 471,467
2023 Total Population : 13,863 145,597 466,735
2023 Employed Civilian Pop : 7,190 74,421 237,123
2023 Total Businesses : 594 4,350 13,762
2023 Average Household Income : $ 102,811 $ 107,434 $ 115,965
2023 Total Consumer Spending : $ 436 M $ 4784 M $ 16265 M
2023 Median Age : 39 40 39
2023 Total Households : 4,984 52,484 165,333
2023 Pop Age 25+: Bachelor's Degree : 1,693 21,265 69,489
2023 Average Home Value : $ 444,075 $ 419,060 $ 481,864
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Pleasant Street 2017 7,735 0.19 mi
East Edgar Road Smith St 2017 62,489 0.24 mi
W Edgar Rd Edward St 2013 54,154 0.35 mi
W Edgar Rd S Stiles St 2013 54,154 0.43 mi
West Linden Avenue 2018 6,878 0.47 mi
S Stiles St W Munsell Ave 2013 8,405 0.53 mi
W Edgar Rd E Lincoln Ave 2013 64,613 0.56 mi
Lower Rd Range Rd 2015 6,217 0.56 mi
S Stiles St W 16th St 2017 6,844 0.57 mi
W Elizabeth Ave Lindegar St 2010 10,552 0.62 mi

Listing Broker

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