McKinney TX - LA Fitness

Description:

Long-Term NN Lease | Fee Simple Ownership
Approximately 6 years remaining with limited landlord maintenance/expense responsibilities making this an ideal investment for a passive or out-of-town investor
Landlord responsible for roof (warranty in place for roof) and structure

Inflation Hedge
The lease features rental increases every 5 years throughout the initial term and at the beginning of each option, increasing the NOI and providing a hedge against inflation

Credit Tenant | Corporate Lease
The lease is signed by Fitness International, LLC, rated “B” Stable by S&P, the largest non-franchised fitness club operator in the US with over 728 locations throughout the country
LA Fitness’ sales for FY24 are estimated to have grown by 10% to $2.3 billion

Top Ranked Location - Placer.ai
This location ranked in the top 29% in Texas and top 25% (#3 0f 8) within 15 miles based on # of visits over the past 12 months

Densely Populated and Affluent Trade Area
More than 257,800 residents and 47,000 employees within 5 miles with an average household income over $196,700, projected to increase to $213,000 by 2030

High Traffic / Excellent Visibility
Located at the signalized intersection of Custer Road and Virginia Parkway with a combined traffic count of 96,492 VPD

Strategic Retail Corridor Location
Situated in a dense retail corridor surrounded by major national retailers such as The Home Depot (a top 30% location nationwide by visits according to Placer.ai), Sprouts Farmers Market, CVS, Chase Bank, 7-Eleven, Taco Bell, Sonic and Dunkin
Provides a steady flow of customers for a stable membership base

Limited Competition
Only 1 other national fitness brand located within 2.5 miles – Anytime Fitness located 1860 Independence Pkwy

New Retail Developments
Located across Virginia Parkway from several new developments, including a McDonalds, and a new 12,175 square foot retail center called 9110 Virginia Pkwy

Major Education Center Proximity
2 miles east of Rock Hill High School with over 2,800 students
3 miles south of Walnut Grove High School with over 1,700 students