LA Fitness Center - Columbus

5959 N Hamilton Rd Columbus , OH 43230-8517

LA Fitness Center - Columbus - retail for sale

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Overview



Leasehold interest in an LA fitness-anchored retail center for sale in northeast Columbus. The asset is strategically positioned within a well-tenanted shopping center across from the highly anticipated Hamilton Quarters development, a 320-acre project currently undergoing phase one construction. Desirable location and dense population base makes this an excellent investment opportunity for an asset in a highly sought-after market.

Investment highlights


  • LA Fitness has a long-term, net-lease with a strong corporate guarantee provided by Fitness International, LLC
  • New owner will have the right to acquire the fee-simple title in 2022
  • LA Fitness accounts for 82% of NOI, providing tremendous security with a lease term through June of 2027

General
Property type Retail
Tenure type Sale/Purchase
Property address 5959 N Hamilton Rd, Columbus, OH 43230-8517
Market Columbus
Land in acres 6.28
Building size 73,081  ft2
Year built 2006
Financial
Price $17,723,375
Cap rate 8.80%
Current NOI $1,559,657.00
Lease
Tenant's name L A Fitness LLC
Guarantor FITNESS INTERNATIONAL, LLC
Credit rating (S&P) B+
Guarantor credit rating (S&P) B+
Lease type NN
Lease expiration date 06/30/2026
Remaining term 6.7Yrs

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