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LA Fitness | Houston, TX 19550 Restaurant Row 45,000 SF Retail Building Houston, TX 77084 $15,725,737 CAD ($349.46 CAD/SF) 7.25% Cap Rate

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INVESTMENT HIGHLIGHTS

Long-Term Investment Opportunity
Corporate-Backed Security
S&P Upgrade “B/Stable” Rating

Prime Location in Thriving Market
Top Performing Location & Built-in Customer Base

EXECUTIVE SUMMARY

The NNN Fitness Group of Marcus & Millichap is pleased to present the opportunity to acquire a 45,000-square-foot LA Fitness in Houston, Texas. The property is leased to Fitness International, LLC (LA Fitness), the largest non-franchised health club operator in North America with 728+ locations and an S&P “B/Stable” rating. In 2020, LA Fitness executed a new 15-year lease extension, securing tenancy through October 31, 2035, with three additional 5-year options.
Built in 2005, the property sits on 3.78 acres with ±294 parking spaces and ranks in the top 12% of all U.S. fitness centers. Ideally positioned along I-10 with 229,000+ VPD, the site is surrounded by major national retailers including H-E-B, Lowe’s, Kohl’s, At Home, Ashley Furniture, and more. With a five-mile population of 258,662 and average household income of $104,544, this location benefits from strong demographics and a built-in customer base supported by new luxury residential development nearby.

Offering Memorandum

PROPERTY FACTS

Sale Type

Investment

Property Type

Retail

Property Subtype

Freestanding

Building Size

45,000 SF

Building Class

Year Built

2005

Price

$15,725,737 CAD

Price Per SF

$349.46 CAD

Cap Rate

7.25%

NOI

$1,140,118 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.27

Lot Size

3.78 AC

Zoning

F1 - Commercial

Parking

294 Spaces (6.53 Spaces per 1,000 SF Leased)

Frontage

155’ on Restaurant Row

Freeway Visibility

Pylon Sign

Arts, Entertainment, and Recreation
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LA Fitness continues to increase its presence by focusing on the one lifelong benefit valued by everyone: good health. Founded in Southern California in 1984, LA Fitness continues to seek innovative ways to enhance the physical and emotional well-being of their increasingly diverse membership base. Today, their state-of-the-art clubs span the continent, and they are still expanding. Their strong and successful growth stems from their commitment to understanding and meeting the distinct needs of each community they serve. With their wide range of amenities and a highly trained staff, they provide fun and effective workout options to family members of all ages and interests.