Esporta Fitness | 11yrs Remaining Corp NN
34,000 SF | 4-Star Retail Building | Longwood, FL 32750 | $11,115,000 ($327/SF) | 6.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $11,115,000
- Property Type
-
Retail, Health Care
- Square Feet
- 34,000 SF
- Price / Square Foot
- $327
Listing Contacts
Patrick Luther
Verified Profile
Matthew Mousavi
Verified Profile
- Property Info
Property Overview
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, corporate guaranteed, Esporta Fitness (LA Fitness) investment property located in Longwood, Florida. The tenant, Fitness International, LLC, has 11-years remaining on its lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features $1.50 PSF rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, minimal-management investment opportunity for a passive investor. Founded in 1984, LA Fitness is one of the largest health club brands in the country with 700+ locations, many of which have been converted into Esporta clubs, an affordable alternative catering to larger potential consumer bases.
Property Details
- Class
- B
- Year Built
- 2020
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 293,159 SF
Highlights
- 11 Years Remaining | Options To Extend | Scheduled Increases | Corporate Guaranteed | Well Known & Established Tenant
- NN | Fee Simple Ownership | Limited Landlord Responsibilities
- Retail Corridor | National/Credit Tenants | Direct Consumer Base |Near Heavily Trafficked Intersection (108,400 VPD)
- Strong Demographics In 5-Mile Trade Area
Nearby Properties
Similar Properties
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