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Views: 110 DOM: 207 Updated: 09.07.24 Posted: 02.22.24 Status: Active

Summary

Price $11,667,857
Built/Renov 2005
Tenant LA Fitness
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 45,000
Lease Start 11-01-2020
#Units 800
Price/SF $259.29
Expiration 10-31-2035
Tenant Type Sport/Fitness
NOI $816,750
R. Term 11.1
Ownership Fee Simple
Rent/SF $18.15
Increases 10.0%/1/yrs
Pop 5Mi 263,512
Lot/AC 3.78
Options 3/5yrs/10%
AHHI 5Mi $107,521

Lease Highlights

  • LA Fitness recently extended its lease and has 11+ years remaining on the current term with 3 (5-year) options to extend
  • The lease features 10% rental escalations every 5 years throughout the initial term and in each option period
  • Income tax free state 
  • Corporate guaranteed lease

Location Description

LA Fitness is strategically located on Restaurant Row, with access to 31,654 vehicles passing by daily. The property enjoys close proximity to national and local retailers, including Ashley Furniture, At Home, H-E-B, Kohl’s, Panera Bread, Applebee’s, Lowe’s, and more. Additionally, it is adjacent to Lenox Katy Apartments, Park Falls Apartments, Radius West Apartments, and more. The 5-mile...

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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 : 17,738 116,435 276,686
2023 Total Population : 15,667 113,051 267,316
2023 Employed Civilian Pop : 8,435 59,502 139,092
2023 Total Businesses : 1,000 4,461 8,260
2023 Average Household Income : $ 98,668 $ 117,011 $ 115,704
2023 Total Consumer Spending : $ 500 M $ 3887 M $ 8934 M
2023 Median Age : 34 35 35
2023 Total Households : 5,852 38,790 90,184
2023 Pop Age 25+: Bachelor's Degree : 2,553 22,804 53,146
2023 Average Home Value : $ 269,158 $ 298,185 $ 299,273
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Katy Freeway Frontage Road N Westgreen Blvd 2021 34,969 0.14 mi
Foxlake Dr 2011 7,880 0.17 mi
Katy Freeway Frontage Road Cypress Run 2021 31,698 0.21 mi
Whiteback Dr PkRow 2011 2,150 0.29 mi
Park Row Ricefield Dr 2011 13,420 0.32 mi
Park Row Fry Rd 2011 15,250 0.34 mi
Foxlake Dr 2011 3,490 0.36 mi
Fry Rd PkRow 2014 52,582 0.38 mi
Greenhouse Road 2012 30,859 0.39 mi
Fry Rd PkRow 2009 44,177 0.44 mi

Listing Broker

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