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LA Fitness | S&P 'B' Stable 19550 Restaurant Row

45,000 SF Retail Building Houston, TX 77084 $11,667,857 ($259/SF) 7% Cap Rate

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Investment Highlights

Recent 15-Year Extension
Top Performing Health Club Chain
Excellent Demographics

Low Rent & Price Per/SF
S&P Upgrade “B/Stable” Rating

Executive Summary

The NNN Fitness Group of Marcus and Millichap is pleased to offer this rare opportunity to purchase a freestanding 45,000 SF LA Fitness in Houston, TX. LA Fitness executed a new 15-year extension in 2020 demonstrating their long-term success and commitment to this location. Situated only 23 miles east of Houston this property boasts a 5-mile population of 263,512, with an average household income of $107,521.
The property benefits from its proximity to adjacent national and local retailers including Ashley Furniture, At Home, H-E-B, Kohl’s, Panera Bread, Massage Envy, Applebee’s, Lowe’s, Home Depot, Hobby Lobby, The Vitamin Shoppe, and many more.

Offering Memorandum

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Freestanding

Building Size

45,000 SF

Building Class

Year Built

2005

Price

$11,667,857

Price Per SF

$259

Cap Rate

NOI

$816,750

Tenancy

Single

Building Height

1 Story

Building FAR

0.28

Lot Size

3.75 AC

Zoning

Parking

225 Spaces (5 Spaces per 1,000 SF Leased)

Frontage

155 FT on Restaurant Row

Amenities

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.