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LA Fitness – Katy, TX

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LA Fitness – Katy, TX

19550 Restaurant Row

Katy, TX, 77084

Price:
$12,913,043
Cap Rate:
5.75%
NOI:
$742,500
Rentable SQFT:
45,000 SF
Year Built:
2005
Lot Size:
3.78 Acres
Lease Type:
NNN
Type of Ownership:
Fee Simple
Status:
Under Contract

Investment Highlights

  • Recent 15-Year Extension:
    LA Fitness recently executed a new 15-year extension in 2020 demonstrating their long-term success and commitment to this location. Additionally, the tenant received $500,000 in tenant Improvement allowance to further enhance the property and amenities.
  • Low Rent & Occupancy Cost:
    Rent at the subject property was lowered by approximately 30% when the lease was extended further enhancing the profitability of the Tenant and long-term security for the Landlord.
  • Excellent Demographics:
    Located only 23 miles from Houston Metro, this property boasts a three-mile population of 115,923 residents with an average household income of $109,443.
  • Top Performing Health Club Chain:
    LA Fitness is the largest and one of the fastest-growing non-franchised fitness club operators with over 744+ health club locations in the United States and Canada.
  • Major Recapitalization – Moody’s 06/01/21:
    Fitness International, LLC recently joined forces with several large equity partners in a major recapitalization effort to take advantage of growth opportunities – major recent capital raise from equity partners; Fitness International’s current total liquidity is about $730M (Moody’s).

The NNN Fitness Group of Marcus & Millichap is pleased to present this rare opportunity to purchase a free-standing 45,000 SF La Fitness located in Katy, Texas. LA Fitness executed a new 15-year extension in 2020 demonstrating their long-term success and commitment to this location. Situated only 23 miles East of Houston this property boasts a 3-mile population of 115,923, with an average household income of $109,443. The property benefits from its proximity to adjacent national and local retailers including Ashley Furniture, At Home, H-E-B, Kohl’s, Panera Bread, Massage Envy, Applebee’s, Lowe’s, Home Depot, Hobby Lobby, The Vitamin Shoppe, and many more. 

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  • Confidentiality and Disclaimer

    The information contained on this website is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from NNN Fitness and distribution to any other person or entity without the express written consent of NNN Fitness is strictly prohibited. This website provides summary, unverified information to prospective purchasers, and has been prepared to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. NNN Fitness has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. NNN Fitness has not made any investigation, and makes no representation or warranty, that the information on this website has not changed since it was originally prepared and posted. The information contained on this website has been obtained from sources we believe to be reliable; however, NNN Fitness has not verified, and will not verify, any of the information contained herein, nor has NNN Fitness conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

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For more information, please contact:

Mark Thiel

Senior Managing Director Investments

858-373-3206

Email & Bio »

Timothy Speck

Broker of Record

License: 432723