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Fitness Center

LA Fitness | Rare 20yr NNN | Sale-Leaseback

905 Route 1, Edison, NJ 08817

Listing Price: $17,000,000

Cap Rate
5.00%
Tenant Name
LA Fitness
Years Remaining On Lease
19.9
Guarantor
Corporate Guarantee
Rentable SF
41,000
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.73

Investment Overview

Marcus and Millichap is pleased to bring to market this extremely rare, freestanding brand-new prototype LA Fitness Sale-Leaseback, just 34 miles outside Manhattan in Edison, NJ. The property boasts a population of 285,667 within three miles and an average household income exceeding $115,623. This state-of-the-art facility will feature all of the newest trademark health club amenities along with a brand new 20 Year NNN lease to be signed at the Close of Escrow with structured 10% increases every five years. The property benefits from excellent exposure to a combined 84,239 vehicles per day along US Route-1 and Old Post Rd and sits in front of Sam’s Club and adjacent to a brand new Top Golf.

Investment Highlights

  • Rare Sale-Leaseback with Structured Increases
  • Brand New Prototype Construction
  • Number One Health Club Chain
  • Major Recapitalization
  • High Traffic and Extremely Dense Demographics

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (201) 742-6100

    License(s) NJ: 1434917

    New Jersey

Fitness Center

LA Fitness | Rare 20yr NNN | Sale-Leaseback

Listing Price: $17,000,000

Cap Rate
5.00%
Tenant Name
LA Fitness
Years Remaining On Lease
19.9
Guarantor
Corporate Guarantee
Rentable SF
41,000
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.73

Investment Highlights

  • Rare Sale-Leaseback with Structured Increases
  • Brand New Prototype Construction
  • Number One Health Club Chain
  • Major Recapitalization
  • High Traffic and Extremely Dense Demographics

Investment Overview

Marcus and Millichap is pleased to bring to market this extremely rare, freestanding brand-new prototype LA Fitness Sale-Leaseback, just 34 miles outside Manhattan in Edison, NJ. The property boasts a population of 285,667 within three miles and an average household income exceeding $115,623. This state-of-the-art facility will feature all of the newest trademark health club amenities along with a brand new 20 Year NNN lease to be signed at the Close of Escrow with structured 10% increases every five years. The property benefits from excellent exposure to a combined 84,239 vehicles per day along US Route-1 and Old Post Rd and sits in front of Sam’s Club and adjacent to a brand new Top Golf.

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (201) 742-6100

    License(s): NJ: 1434917

    New Jersey

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