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LA Fitness 9050 Falcon View Dr 37,000 SF Retail Building McKinney, TX 75070 $15,422,125 CAD ($416.81 CAD/SF) 7.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term NN Lease | Fee Simple Ownership Approximately 6 years remaining with limited landlord maintenance/expense responsibilities making this an id
- Credit Tenant | Corporate Lease The lease is signed by Fitness International, LLC, rated “B” Stable by S&P, the largest non-franchised fitness club op
- Inflation Hedge The lease features rental increases every 5 years throughout the initial term and at the beginning of each option, increasing the NOI
EXECUTIVE SUMMARY
Approximately 6 years remaining with limited landlord maintenance/expense responsibilities making this an ideal investment for a passive or out-of-town investor
Landlord responsible for roof (warranty in place for roof) and structure
Inflation Hedge
The lease features rental increases every 5 years throughout the initial term and at the beginning of each option, increasing the NOI and providing a hedge against inflation
Credit Tenant | Corporate Lease
The lease is signed by Fitness International, LLC, rated “B” Stable by S&P, the largest non-franchised fitness club operator in the US with over 728 locations throughout the country
LA Fitness’ sales for FY24 are estimated to have grown by 10% to $2.3 billion
Top Ranked Location - Placer.ai
This location ranked in the top 29% in Texas and top 25% (#3 0f 8) within 15 miles based on # of visits over the past 12 months
Densely Populated and Affluent Trade Area
More than 257,800 residents and 47,000 employees within 5 miles with an average household income over $196,700, projected to increase to $213,000 by 2030
High Traffic / Excellent Visibility
Located at the signalized intersection of Custer Road and Virginia Parkway with a combined traffic count of 96,492 VPD
PROPERTY FACTS
AMENITIES
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Arts, Entertainment, and Recreation
- 37,000 SF
- $24.99 CAD
- Triple Net
- Sep 2031
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.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Arts, Entertainment, and Recreation | 37,000 SF | $24.99 CAD | Triple Net | Sep 2031 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R-10543-00A-0070-1 | Improvements Assessment | $9,258,979 CAD |
| Land Assessment | $2,944,212 CAD | Total Assessment | $12,203,191 CAD |
PROPERTY TAXES
Presented by
LA Fitness | 9050 Falcon View Dr
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