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LA Fitness – Parsippany-Troy Hills

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LA Fitness – Parsippany-Troy Hills

30 Sylvan Way,

Parsippany-Troy Hills, NJ 07054

Price:
$9,327,500
Cap Rate:
6.00%
NOI:
$559,650
Rentable SQFT:
39,975 SF
Year Built:
2019
Lot Size:
0.92 AC
Lease Type:
NNN
Type of Ownership:
Retail Condo
Status:
Available

Investment Highlights

  • Brand New | Corporate Long Term Lease
  • Vibrant Rapidly Developing Retail Corridor
  • Dense Residential Population
  • Top Performing Health Club Chain
  • Low Rent & Captive Membership Base
  • High Visibility & Excellent Access

The NNN Fitness Group of Marcus and Millichap is pleased to bring to market this freestanding LA Fitness located in Parsippany-Troy Hills, NJ. The offering is inclusive of a rare 16 year lease with Fitness International, LLC with 10% increases every five years. LA Fitness is shadow-anchored by Wegman’s and Panera Bread and is located only 25 miles West of New York City. The property benefits from excellent exposure to a combined 218,975 vehicles per day along Route 10 and Route 287. The property boasts a population of 57,113 within three miles and an average household income exceeding $144,486.

 

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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 »

John Horowitz

Broker of Record

License: 1000303