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: | 15.3 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
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: | 15.3 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 1.22 Acres |
| Building Size: | 41,322 SF |
| Year Built: | 1986 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Judson Kauffman
jkauffman@nnnpro.com
License: NY: 10401296108
Hannan Ben Yosef
hbenyosef@nnnpro.com
License: NY: 10401358655
Broker of Record
Brian Brockman
Bang Realty-New Jersey, Inc
License: 2078547
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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.