LA Fitness | 7.00% Cap Rate | 10+ Years of Term | Low Rent & Re-Commitment to Site | Houston Energy Corridor

Highlights:

• Long-Term Investment Opportunity
• Prime Location in Thriving Market
• Corporate-Backed Security
• Top Performing Location & Built-in Customer Base
• S&P Upgrade “B/Stable” Rating

Description:

The NNN Fitness Group of Marcus & Millichap is pleased to present the opportunity to acquire a 45,000-square-foot LA Fitness in Houston, Texas. The property is leased to Fitness International, LLC (LA Fitness), the largest non-franchised health club operator in North America with 728+ locations and an S&P “B/Stable” rating. In 2020, LA Fitness executed a new 15-year lease extension, securing tenancy through October 31, 2035, with three additional 5-year options.

Built in 2005, the property sits on 3.78 acres with ±294 parking spaces and ranks in the top 12% of all U.S. fitness centers. Ideally positioned along I-10 with 229,000+ VPD, the site is surrounded by major national retailers including H-E-B, Lowe’s, Kohl’s, At Home, Ashley Furniture, and more. With a five-mile population of 258,662 and average household income of $104,544, this location benefits from strong demographics and a built-in customer base supported by new luxury residential development nearby.

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