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19550 Restaurant RowHouston, TX 77084
LA Fitness, Houston MSA
Asset ClassRetail
MSAHouston
Square Feet: 45,000Lease-Term Remaining: 15 YearsAccess Data Room
LA Fitness | S&P 'B' Stable | Recent Extension | Healthy Rent & Price Point | Houston, TX
overview of deal

Overview

The NNN Fitness Group of Marcus and Millichap is pleased to offer this rare opportunity to purchase a freestanding 45,000 SF LA Fitness in Houston, TX. LA Fitness executed a new 15-year extension in 2020 demonstrating their long-term success and commitment to this location. Situated only 23 miles east of Houston this property boasts a 5-mile population of 263,512, with an average household income of $107,521. The property benefits from its proximity to adjacent national and local retailers including Ashley Furniture, At Home, H-E-B, Kohl’s, Panera Bread, Massage Envy, Applebee’s, Lowe’s, Home Depot, Hobby Lobby, The Vitamin Shoppe, and many more.

 

Tim Speck

Broker of Record

5001 Spring Valley Rd., Ste. 100W

Dallas, Texas 75244

P: (972) 755-5200

Lic #: 9002994

Tim.speck@marcusmillichap.com

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Investment Highlights

  • Recent 15-Year Extension
  • Low Rent & Price Per/SF
  • Top Performing Health Club Chain
  • S&P Upgrade “B/Stable” Rating
  • Excellent Demographics

Investment Overview

Deal Points
Price
$11,667,857
Cap Rate
7.00%
NOI
$816,750
GLA
45,000 SF
Year Built
2005
Lot Size
3.78 AC
Lease Type
NNN
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19550 Restaurant RowHouston, TX 77084

Investment Contacts

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Listing provided by Revere CRE