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Fitness Center

LA Fitness | 16 Year Lease | Below Market Rent | 30 Miles Outside NYC

30 Sylvan Way, Parsippany-Troy Hills, NJ 07054

Listing Price: $9,327,500

Cap Rate
6.00%
Tenant Name
LA Fitness
Years Remaining On Lease
14.6
Guarantor
Corporate Guarantee
Rentable SF
39,975
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$14.00

Investment Overview

The NNN Fitness Group of Marcus and Millichap is pleased to bring to market this freestanding LA Fitness located in Parsippany-Troy Hills, NJ. The offering is inclusive of a rare 16 year lease with Fitness International, LLC with 10% increases every five years. LA Fitness is shadow-anchored by Wegman’s and Panera Bread and is located only 25 miles West of New York City. The property benefits from excellent exposure to a combined 218,975 vehicles per day along Route 10 and Route 287. The property boasts a population of 57,113 within three miles and an average household income exceeding $144,486.

Investment Highlights

  • Brand New | Corporate Long Term Lease
  • Vibrant Rapidly Developing Retail Corridor
  • Dense Residential Population
  • Top Performing Health Club Chain
  • Low Rent & Captive Membership Base
  • High Visibility & Excellent Access

Broker of Record

  • John Horowitz

    First Vice President/ Division Manager

    (201) 742-6100

    License(s) NJ: 2192359

    New Jersey

Financing By

Fitness Center

LA Fitness | 16 Year Lease | Below Market Rent | 30 Miles Outside NYC

Listing Price: $9,327,500

Cap Rate
6.00%
Tenant Name
LA Fitness
Years Remaining On Lease
14.6
Guarantor
Corporate Guarantee
Rentable SF
39,975
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$14.00

Investment Highlights

  • Brand New | Corporate Long Term Lease
  • Vibrant Rapidly Developing Retail Corridor
  • Dense Residential Population
  • Top Performing Health Club Chain
  • Low Rent & Captive Membership Base
  • High Visibility & Excellent Access

Investment Overview

The NNN Fitness Group of Marcus and Millichap is pleased to bring to market this freestanding LA Fitness located in Parsippany-Troy Hills, NJ. The offering is inclusive of a rare 16 year lease with Fitness International, LLC with 10% increases every five years. LA Fitness is shadow-anchored by Wegman’s and Panera Bread and is located only 25 miles West of New York City. The property benefits from excellent exposure to a combined 218,975 vehicles per day along Route 10 and Route 287. The property boasts a population of 57,113 within three miles and an average household income exceeding $144,486.

Broker of Record

  • John Horowitz

    First Vice President/ Division Manager

    (201) 742-6100

    License(s): NJ: 2192359

    New Jersey

Financing By

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