LA Fitness

Secaucus, NJ

Key Details

Price:$23,076,754
Cap Rate:6.50%
Annual Rent:$1,499,989
Address:585 Harmon Meadow Boulevard, Secaucus, New Jersey 07094
Property Type:Retail
Lease Type:Triple Net (NNN)

Property Data

Original Lease Term:33 Years
Lease Commencement:2/1/2007
Lease Expiration:2/28/2040
Lease Term Remaining:15.4 Years
Rental Increases:10.00% Every 5 Years
Lot Size:1.22 Acres
Building Size:41,322 SF
Year Built:1986
NNN Pro is pleased to present the exclusive listing for a LA Fitness located at 585 Harmon Meadow Boulevard, Secaucus, New Jersey 07094. The site consists of roughly 41322 rentable square feet of building space on an estimated 1.22-acre parcel of land. This LA Fitness is subject to a 33-year Triple Net (NNN) lease, which commenced 2/1/2007. The current annual rent is $1,499,989 and has scheduled increases of 10.00% Every 5 Years.

About the Investment

  • Absolute Triple Net (NNN) Lease with Approximately 15.9 Years of Term Remaining
  • One (1), Five (5)-Year Tenant Renewal Option, Bringing the Potential Lease Term up to 20+ Years
  • Rental Increases of 10% Occurring Every 5 Years Starting 03/01/2030 and Continuing into the Tenant Renewal Option Period

Talk to the Pros

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Glen Kunofsky

gkunofsky@nnnpro.com
License: NY: 49KU1129178
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Judson Kauffman

jkauffman@nnnpro.com
License: NY: 10401296108
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Hannan Ben Yosef

hbenyosef@nnnpro.com
License: NY: 10401358655

Broker of Record

Brian Brockman

Bang Realty-New Jersey, Inc
License: 2078547
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.