LA Fitness at a 7.23% Cap with Outstanding Demographics
Complete the following form to download the offering memorandum:
- Price: $12,500,000
- Cap Rate: 7.23%
- NOI: $903,375
- Building Size: 45,000
- Corporate guaranteed by a strong national credit tenant
- Rent increases every 5 years
- Tenant responsible for taxes, insurance, CAM
- Landlord only responsible for roof and structure
SVN is proud to present for sale a corporate guaranteed LA Fitness located in Goodyear, Arizona. LA fitness is on a long-term lease of 15 years with 7 years remaining and 3 five-year options. The lease provides for rent increases every 5 years including during options.
LA Fitness is a privately held fitness chain with over 700 locations in the United States and Canada. As of March 2016, it had over 4.9 million members and revenues of $1.9 billion. It is one of the largest and fastest growing fitness chains in the country. The club in Goodyear features basketball, indoor cycling, kids club, sauna, spa, indoor pool, group fitness classes and personal training.
The property is located at the hard-corner intersection of South Cotton Lane and West Yuma Road. The property has several other pads with CVS, Frederico’s Mexican Food, and Bahama Bucks signed up as new tenants. The property is located in Goodyear, Arizona, a suburb of Phoenix on South Cotton Lane, 1.5 miles from a major interchange expansion of Interstate 10 and Loop 303 that was completed in 2014.