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LA Fitness 585 Harmon Meadow Blvd

41,322 SF Retail Building Secaucus, NJ 07094 £18,207,692 (£441/SF) 6.50% Net Initial Yield

Investment Highlights

  • Absolute Triple Net (NNN) Lease with Approximately 15.9 Years of Term Remaining
  • Rental Increases of 10% Occurring Every 5 Years Starting 02/28/2040 and Continuing into Tenant Renewal Option Periods
  • Two (2), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term up to 25+ Years

Executive Summary

NNN Pro Group is pleased to present the exclusive listing for an LA Fitness located at 585 Harmon Meadow Boulevard, Secaucus, NJ 07094. the site consists of roughly 41,322 rentable square feet of building space on estimated 1.22-acre parcel of land. This LA Fitnessissubjecttoa±15.9-year absolute triple-net (NNN) lease, which commenced on (TBD). the current annual rent is $1,500,000 and is scheduled to increase by 10% Every 5 Years Starting 02/28/2040 continuing into tenant renewal option periods.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Health Club
Building Size
41,322 SF
Year Built
1986
Price
£18,207,692
Price Per SF
£441
Net Initial Yield
6.50%
NOI
£1,183,500
Tenancy
Single
Number of Floors
2
Building FAR
0.78
Land Acres
1.22 AC
Parking
20 Spaces (0.48 Spaces per 1,000 SF Leased)
Frontage
100 ft on Meadow BLVD

Amenities

  • Signage
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585 Harmon Meadow Blvd, Secaucus, NJ - aerial map view

Nearby Major Retailers

Red Lobster
Poke Bros.
CAVA
Chase Bank
Outback Steakhouse
Carrabba's Italian Grill
LA Fitness
Red Robin Gourmet Burgers And Brews
Buffalo Wild Wings
Starbucks

PROPERTY TAXES

Parcel Number 09-00227-0000-00007-09-HM Improvements Assessment £3,552,867
Land Assessment £699,291 Total Assessment £4,252,158

PROPERTY TAXES

Parcel Number
09-00227-0000-00007-09-HM
Land Assessment
£699,291
Improvements Assessment
£3,552,867
Total Assessment
£4,252,158
(332) 345-4222

  • Listing ID: 32002731

  • Date on Market: 03/06/2024

  • Last Updated:

  • Address: 585 Harmon Meadow Blvd, Secaucus, NJ 07094

The Retail Property at 585 Harmon Meadow Blvd, Secaucus, NJ 07094 is currently available For Sale. Contact NNN Pro Group for more information.

Retail PROPERTIES IN NEARBY NEIGHBOURHOODS

Nearby Listings

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585 Harmon Meadow Blvd, Secaucus, NJ for sale Building Photo- Image 1 of 3
pic 1 la fit
585 Harmon Meadow Blvd, Secaucus, NJ for sale Aerial- Image 2 of 3
pic 2 la

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© 2024 CoStar Group

LA Fitness | 585 Harmon Meadow Blvd
(332) 345-4222 x

LA Fitness | 585 Harmon Meadow Blvd

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Glen Kunofsky

(332) 345-4222

(332) 345-4222

Judson Kauffman

(332) 345-4202

(332) 345-4202

Hannan Ben Yosef

(332) 345-4384

(332) 345-4384

Matthew Sorace

(332) 345-7813

(332) 345-7813

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