LA Fitness at Midway
LA Fitness | 45,000 SF | Opportunity Zone | Tenant since 2014
Marketing description
RIPCO Real Estate is pleased to offer for sale a ±45,000 SF retail building, 100% leased to LA Fitness. The tenant has 4.25 years remaining on their current term with three (3), five-year options remaining.
LA Fitness was constructed in 2014 and sits adjacent to The Shops at Midway, a 74,694 SF Power center anchored by TJ Maxx and Ross Dress for Less. The center is located at the southwest corner of the signalized intersection of North Missouri Avenue (30,000 AADT) and Jasper Street. Other nearby retailers along N Missouri Avenue include Old Time Pottery, Walmart Supercenter, ALDI, Rent-A-Center, Goodwill, and Office Depot.
This asset provides investors with an opportunity to acquire a fully NN single tenant asset with minimal landlord responsibilities.
Investment highlights
National Tenant:
- LA fitness is a national fitness brand owned by fitness international
- There are currently 132 locations in the united states, including 28 locations in florida
- The lease is a corporate lease with fitness international, llc
Stable Cash Flow:
- LA Fitness has been a tenant since 2014
- There are 4.25 years remaining on the initial term, with three (3), five-year options remaining
Strong Demographics:
- 3-Mile Population: 108,936
- 3-Mile Avg. HH Income: $92,797
- 3-Mile Daytime Population: 112,020
Strategic Location:
- Located in an Opportunity Zone
- Corner location at Missouri Avenue (US-19 Alternate) and Jasper Street, a signalized intersection
- Missouri Avenue has an AADT of 30,000
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