LA Fitness - West Melbourne, FL_Property for Sale
LA Fitness - West Melbourne, FL_Property for Sale
4454 Hollywood Boulevard, West Melbourne, FL, 32904, US

LA Fitness - West Melbourne, FL

Asset description

JLL is pleased to exclusively offer for sale the LA Fitness in West Melbourne, FL (the “Property” or the “Asset”). The Property is favorably situated within a dense commercial corridor directly adjacent to interstate-95 which provides ample exposure to more than 80,000 vehicles per day. The Asset favorably sits on an oversized 4.20-acre parcel surrounded by prominent businesses including Walmart, Target, Bass Pro Shops, Kohl’s and a 130-room SpringHill Hotel next door set to open in fall 2024. The surrounding 1-mile area has experienced a staggering 90% population growth since 2010 and has been accompanied by a plethora of new developments which includes 1,700+ apartment units delivered within the last 5-years.

LA Fitness (the “Tenant”) has operated at this location since its delivery in 2015 and is subject to a net lease with 11.7-years of remaining term, a 10% rent bump in March 2026, multiple renewal options, and minimal landlord responsibilities. This offering presents a passive income opportunity for investors seeking growing, long-term cash flow backed by industry-leading tenancy in a premier market with strong real estate fundamentals.

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Attributes

Building area net
4,244 sm
Occupancy
100%
Year built
2015
WAULT
11.7 years

Media

Investment highlights

  • 90% population growth within 1-mile since 2010 and 1,750 apartment units delivered since 2018
  • Premier corridor off I-80 surrounded by prominent retailers including Walmart, Bass Pro Shops, Target, and more
  • 10% rent growth in March 2026
  • Net lease with nearly 12-years of remaining term and minimal landlord responsibilities
  • 2015 build-to-suit situated on an oversized, 4.20-acre parcel
LA Fitness - West Melbourne, FL 4_Property for Sale

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Last updated
Jun 24, 2024