1969 Portage Trl - Health Club FOR SALE


Cuyahoga Falls, OH 44223
$8,655,000 USD
949-903-3399
1969 Portage Trl, Cuyahoga Falls, OH for Sale
$8,655,000 USD
Health Club - FOR SALE
1/7
null | 8.25% Cap Rate

1969 Portage Trl
Cuyahoga Falls, OH 44223


HIGHLIGHTS

  • Proven Long Term Corp. NN Lease by LA Fitness- 6 Yrs. Left Plus Options
  • Anchor Tenant of Portage Crossing Shopping Center (120K+ SF)- Cinemark/Menards
  • Best in Class National Brand- One of Fastest Growing Health Clubs- 700+ Locations
  • Affluent Suburb outside Cleveland ($103,358 HHI)- Voted Best Place to Live in Ohio
  • Dense Main & Main Retail- Shadow Anchored by #1 Market in State (Giant Eagle Market)
  • Long Term Upside Potential with Percentage Rent- Next to New Cuyahoga Falls High School

OVERVIEW

The Snyder Carlton National Net Lease Team is pleased to offer investors an opportunity to acquire the single tenant net leased LA Fitness in Cuyahoga Falls, OH. LA Fitness (Fitness International, LLC) operates 630 state-of-the-art fitness centers across the United States and Canada and is one of the most recognizable health clubs across North America. With 5.9 years remaining in the primary term, three 5-year option periods, 10% rent increases every option period, and potential for percentage rent, this asset is ideal for an investor seeking internet-resistant cash flows. The 45,000 square foot standalone gym is located near the hard corner signalized intersection of Portage Trail and State Rd, which sees over 36,300 VPD. The subject property is within 35 miles of Cleveland (CSA population exceeding 3.6 million) and is surrounded by national retailers. Nearby retailers include Menards, Acme Fresh Market, Market District Supermarket, Walgreens, McDonald’s, Chipotle, Starbucks, Dunkin’, Taco Bell, Arby’s, KFC and more. This is a great opportunity to purchase a net leased fitness center in Ohio with a well-established tenant and limited landlord responsibilities, providing stable income for years to come.

FOR SALE DETAILS

PRICE

$8,655,000 USD

PRICE/SF

$241 USD /SF

CAP RATE

8.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

LA Fitness

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Health Club

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

100

LAND DETAILS

LAND ACRES

1.05 AC

LAND SF

45,738 SF

ZONING

C-1

APN/PARCEL ID

02-20632

ASK ABOUT THIS PROPERTY

Eric CarltonColliersMore Info
949-903-3399

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Eric CarltonColliersMore Info
949-903-3399

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