LA Fitness
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

CONTACT US REGARDING THIS LISTING

Douglas Passon

Managing Partner

Robert Bender

Managing Partner

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PROPERTY ADDRESS

6386 N Eldridge Parkway, Houston, TX 77041

PROPERTY INFORMATION

Price:
$12,358,500
Cap Rate:
6.85%
Term Remaining:
6 Years
Year Built:
2008
Status:
Available

INVESTMENT HIGHLIGHTS

  • 45,000 SF LA Fitness situated on a 4.86 Acre Parcel
  • 217 Feet of Frontage on Eldridge Parkway
  • NNN Lease with No Landlord Responsibilities
  • 6+ Years Remaining on Lease Term
  • 7.5% Rent Increases Every 5 Years
  • Corporate Lease Guarantee

INVESTMENT SUMMARY

Fortis Net Lease is pleased to present a LA Fitness located at 6386 N Eldridge Parkway in Houston, TX. This NNN lease has over six years remaining and will expire on February 29, 2024. There are no landlord responsibilities and the lease includes 7.5 percent rent increases every five years.

The subject property is situated in a densely populated area with over 275,000 residents within five miles and is located on a local retail corridor. The median home value within one mile exceeds $277,000 and the average household income exceeds $129,000. The subject property is located near other national retail tenants including Dollar Tree, Walgreens, Kroger, Family Dollar, Domino’s Pizza, Burger King, Pizza Hut, McDonalds and Starbucks.