LA Fitness | 1150 Hall of Fame Ave
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LA Fitness 1150 Hall of Fame Ave
91,966 SF 96% Leased Retail Building Springfield, MA 01105 $14,965,000 ($163/SF) 6.50% Cap Rate
Investment Highlights
- LA Fitness Showing Strong Commitment to the Site
- Under Market Rent for the Law Firm
- Located at the Basketball Hall of Fame Entertainment Complex on the Connecticut Riverfront
- LA Fitness is an Individual Unit as Part of a Larger Condominium Complex Subject to a Ground Lease
Executive Summary
NNN Pro is pleased to present the exclusive listing for the property leased to Fitness International, LLC, Pellegrini, Seeley, Ryan & Blakesley, P.C, (PSRB, P.C.) and Professional Physical Therapy located at 1150 Hall of Fame Avenue, Springfield, MA 01105. The site consists of roughly 74,978 rentable square feet of building space on an estimated 3.56-acre parcel of land. The LA Fitness is subject to a 15- year NN lease extension, which was extended as of 9/1/2023, while the law firm and physical therapist have 4.5 years and roughly 1 year remaining on their leases. The upcoming NOI of the subject property is $972,667. The subject property is a condominium unit within the "Springfield Riverfront Condominium" complex. The entire complex is subject to a ground lease held by the Springfield Riverfront Development Corporation, with the remaining term lasting Seventy- Five (75) years, expiring in 2099.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Health Club
Building Size
91,966 SF
Building Class
B
Year Built
2009
Price
$14,965,000
Price Per SF
$163
Cap Rate
6.50%
NOI
$972,667
Percent Leased
96%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.59
Lot Size
3.56 AC
Zoning
WC
Parking
14 Spaces (0.15 Spaces per 1,000 SF Leased)
Frontage
256 FT on Columbus Ave
Amenities
- Bus Line
- Freeway Visibility
- Pylon Sign
- Signage
Walk Score ®
Very Walkable (85)
Transit Score ®
Excellent Transit (72)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $47,155,900 | |
| Land Assessment | $0 | Total Assessment | $47,155,900 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$47,155,900
Total Assessment
$47,155,900
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LA Fitness | 1150 Hall of Fame Ave
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