16930 Parthenia St - Retail FOR SALE


Northridge, CA 91343
$8,656,670 USD
949-221-1807
16930 Parthenia St, Northridge, CA for Sale
$8,656,670 USD
Retail - FOR SALE
1/13
null | 5.5% Cap Rate

16930 Parthenia St
Northridge, CA 91343


HIGHLIGHTS

  • GROWING INCOME STREAM | 15% RENT INCREASE OVER NEXT 6 YEARS
  • LONG TERM 15 YEAR NNN LEASE | TENANT IS HIGHLY INVESTED IN LOCATION
  • PLANET FITNESS (NYSE: PLNT) | 2,900+ LOCATIONS | LARGEST GYM OPERATOR IN U.S.
  • LOCATED AT HARD CORNER INTERSECTION | STRONG TRAFFIC COUNTS OF 67,200 VPD
  • RECENT CAPITAL EXPENDITURES INCLUDE NEW ROOF AND HVAC

OVERVIEW

PLEASE CLICK LINK BELOW OR CONTACT AGENT FOR BROCHURE Faris Lee Investments is pleased to offer a prime Southern California STNL investment leased to Planet Fitness (NYSE:PLNT). With more than 2,900 locations, Planet Fitness is the largest gym operator in the U.S. In 2025, Planet Fitness generated a record revenue of $1.32 Billion helped by 12% year over year sales growth. In the current term, the lease has 2 rent bumps over the next 6 years equating to a 15% rent increase. The lease terms offer investors above market rental increases providing increasing NOI and a realistic opportunity for value appreciation. The NNN lease structure makes this an ideal investment for the investor seeking passive income without the obligation of maintaining and managing the property. Planet Fitness pays all CAM expense directly giving the property owner a true hands-off investment. With Planet Fitness having opened 181 stores in 2025 with another 180 planned openings in 2026, they are best-positioned of any gym operator to meet the consumer demand in a changing health and fitness industry. Planet Fitness benefits from being located within 2 miles from major employers Anheuser-Busch, Northrup Grumman, and Amazon. Cal State Northridge with 38,000 students and 4,000 employees is also within 2 miles and these employers and the university provide a valuable captive and young consumer base for Planet Fitness to serve. With a $140,022 AHHI within a 1-mile radius and 280,246 residents within a 5-mile radius, this is an optimal trade area for Planet Fitness as it provides a high level of discretionary income over a large population base. The combination of having the leading gym operator serving a vibrant and proven trade area in one investment is an opportunity to acquire one of the healthiest investments on the market today.

FOR SALE DETAILS

PRICE

$8,656,670 USD

PRICE/SF

$490 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Planet Fitness | 15% Rent Bumps Over 6 Yrs

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Storefront Retail/Office, Health Club

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

1.62 AC

LAND SF

70,567 SF

ZONING

LAP

APN/PARCEL ID

2689-018-023

ASK ABOUT THIS PROPERTY

Shaun RileyFaris Lee InvestmentsMore Info
949-221-1807

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Shaun RileyFaris Lee InvestmentsMore Info
949-221-1807

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.