LA Fitness | New 12yr Corp Net Lease | 422-550 E Rollins Rd
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LA Fitness | New 12yr Corp Net Lease 422-550 E Rollins Rd
44,794 SF 86% Leased Retail Building Round Lake Beach, IL 60073 £7,741,308 (£173/SF) 8% Net Initial Yield
Investment Highlights
- Brand New 12-Year Lease Extension | Corporate Signature | Scheduled Rental Increases | 200 BPS Higher Than Latest Comp
- Rollins Crossings (1.6M+ Visitors) | Adjacent to High Performing Meijer | Dense Retail Corridor | National/Credit Tenant Presence
- Chicago MSA | Strong Demographics in 5-Mile Trade Area | Six Figure Incomes
- Net Leased | Fee Simple Ownership | Minimal Landlord Responsibilities
- Densification Through Upside Opportunity | Adjacent 3.37 Acre Land Pad Available
Executive Summary
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a net leased, corporate signed, LA Fitness investment property located in Round Lake Beach, IL (Chicago MSA). The tenant, Fitness International, LLC, recently signed a 12-year lease term extension with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increase in August 2030, as well as 10% increases at the beginning of each option period, growing NOI and hedging against inflation. Additionally, as part of the extension an additional $1.6M investment will be made into the space. The lease features minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
44,794 SF
Building Class
B
Year Built
2008
Price
£7,741,308
Price Per SF
£173
Net Initial Yield
8%
NOI
£619,285
Percent Leased
86%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.31
Land Acres
3.27 AC
Parking
360 Spaces (8.04 Spaces per 1,000 SF Leased)
Amenities
- Signage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 200
- 7,200 SF
- Retail
- In-Line
- Now
- 510B
- 3,499 SF
- Retail
- In-Line
- Now
| Space | Size | Space Use | Position | Available |
| 200 | 7,200 SF | Retail | In-Line | Now |
| 510B | 3,499 SF | Retail | In-Line | Now |
200
| Size |
| 7,200 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
510B
| Size |
| 3,499 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £32,653 | |
| Land Assessment | £236,842 | Total Assessment | £269,495 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£236,842
Improvements Assessment
£32,653
Total Assessment
£269,495
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Power Broker Patrick Luther -
Power Broker Matthew Mousavi -
SRS National Net Lease
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LA Fitness | New 12yr Corp Net Lease | 422-550 E Rollins Rd
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