LA Fitness | 1860 Duluth Hwy
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LA Fitness 1860 Duluth Hwy
38,761 SF 4-Star Retail Building Lawrenceville, GA 30043 $10,368,000 ($267/SF) 6.25% Cap Rate
Investment Highlights
- Brand new 10-Year Lease Extension: Showing the Tenant's long-term commitment to this location.
- Excellent Demographics.
- Single-Tenant NN+ Lease with minimal landlord responsibilities.
- Oversized Parcel: 5 acres provides potential development upside.
- Nearby Multi-Family & Apartment Density.
- Highly Replaceable, Very Low Rent at about $16 Per Square Foot.
Executive Summary
Single-Tenant LA Fitness:
° Corporate Lease with Fitness International, LLC [LA Fitness’ Parent Company]
° NN+ Lease with minimal landlord responsibilities, ideal for a passive investor
° 16-year Remaining Lease Term, with two (2), 5-year Options
° Rent Increases every 5 years, including Options
° Corporate Lease with Fitness International, LLC [LA Fitness’ Parent Company]
° NN+ Lease with minimal landlord responsibilities, ideal for a passive investor
° 16-year Remaining Lease Term, with two (2), 5-year Options
° Rent Increases every 5 years, including Options
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Health Club
Building Size
38,761 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2003
Price
$10,368,000
Price Per SF
$267
Cap Rate
6.25%
NOI
$648,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
4.86 AC
Zoning
R-1
Parking
200 Spaces (4.88 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Dedicated Turn Lane
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 7-081-028 | Improvements Assessment | $3,711,520 |
| Land Assessment | $1,141,920 | Total Assessment | $4,853,440 |
PROPERTY TAXES
Parcel Number
7-081-028
Land Assessment
$1,141,920
Improvements Assessment
$3,711,520
Total Assessment
$4,853,440
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LA Fitness | 1860 Duluth Hwy
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