Club Studio (LA Fitness) | 100 Cedar Ave
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Club Studio (LA Fitness) 100 Cedar Ave
43,419 SF Retail Building South Windsor, CT 06074 $13,785,714 ($318/SF) 7% Cap Rate
Investment Highlights
- Long Term Lease
- Zero Management Responsibilities
- Outstanding Location
- Attractive Rent Increases
- Corporate Guarantor
- Strong Demographics
Executive Summary
Horvath & Tremblay is pleased to present the opportunity to purchase the fee simple condominium interest in Club Studio (LA Fitness), a single tenant Absolute NNN Leased investment property located at 100 Cedar Avenue in South Windsor, Connecticut (the “Property”). Club Studio is Fitness International's newest concept featuring unrivaled luxury amenities and boutique studio experiences all under one roof. This offering features a brand new 15-year Absolute NNN Lease (signed by the parent company of LA Fitness). The Absolute NNN lease has three (3), 5-year renewal options and calls for attractive rent increases every 5 years throughout the primary lease term and at the start of each renewal option. Club Studio is positioned along Cedar Avenue and is part of The Shops at Evergreen Walk, Connecticut’s premier, outdoor Lifestyle Center offering an outstanding collection of the most coveted national brands, specialty retailers and restaurants in South Windsor and the surrounding market. The Property is positioned on the perimeter of Evergreen Walk and offers outstanding frontage and visibility along Buckland Road (CT Route 194), one of the area’s primary commercial and commuter corridors. Club Studio is 1.2-miles from Interstate 84, and 2-miles from Interstate 291. The Property is close to the Shoppes at Buckland Hills (enclosed mall), Manchester Memorial Hospital, area’s schools, several larger shopping centers, and new construction residential developments that drive traffic to the area and provide a built-in customer base.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
43,419 SF
Building Class
B
Year Built
2004
Price
$13,785,714
Price Per SF
$318
Cap Rate
7%
NOI
$965,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Land Acres
5.07 AC
Zoning
C - Commercial
Parking
182 Spaces
Frontage
324 FT on Buckland Road
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | SWIN-000027-000015-000010-000010 | Improvements Assessment | $5,056,900 |
Land Assessment | $0 | Total Assessment | $5,056,900 |
PROPERTY TAXES
Parcel Number
SWIN-000027-000015-000010-000010
Land Assessment
$0
Improvements Assessment
$5,056,900
Total Assessment
$5,056,900
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Club Studio (LA Fitness) | 100 Cedar Ave
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