Net Lease Health Clubs
LA Fitness – Coconut Creek, FL
Net Lease Health Clubs Offerings
LA Fitness – Coconut Creek, FL
5501 Lyons Rd
Coconut Creek, FL 33073
- Price:
- $14,385,250
- Cap Rate:
- 6.75%
- NOI:
- $971,005
- Rentable SQFT:
- 41,000 SF
- Year Built:
- 2004
- Lot Size:
- 5.04 AC
- Lease Type:
- Absolute Net
- Lease Term:
- 10+ Yrs
- Type of Ownership:
- Fee Simple
- Status:
- Under Contract
Investment Highlights
- Corporate-Backed Security
- Strong Demographic Support
- High-Traffic Retail Corridor Location
- Long-Term Lease w/ Built-In Rent Growth
The NNN Fitness Group of Marcus & Millichap is pleased to bring to market a 41,000 square-foot LA Fitness located in Coconut Creek, Florida. The property is secured by an absolute net lease and offers investors secure, long-term income with over 10 years remaining on the initial term, extending through January 31, 2037. The lease features built-in rent increases every five years equal to the lesser of CPI or 12%, along with three additional five-year renewal options. The investment is further backed by Fitness International, LLC, the parent company of LA Fitness, which operates 728+ locations nationwide and maintains an S&P credit rating of B/Positive, providing additional security for investors.
Strategically positioned along Lyons Road in a high-traffic retail corridor with over 120,000 vehicles per day, the property benefits from strong visibility and consistent consumer demand. The surrounding Coconut Creek submarket is supported by affluent demographics, including average household incomes exceeding $125,000, dense population, and strong retail spending fundamentals, making it well-suited for long-term fitness tenancy.
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