NET OPERATING INCOME: $1,287,585
LA FITNESS PRICE: $14,995,000
OUTPARCEL PRICE: $995,000
TOTAL OFFERING PRICE: $15,990,000
SQUARE FOOTAGE: 53,206
LA FITNESS LOT SIZE: 5.08 AC
OUTPARCEL LOT SIZE: 1.86 AC
YEAR BUILT: 2007
The Kase Group is pleased to present a free standing LA Fitness for sale in Powell, Ohio (Columbus MSA). The 20 year NNN lease commenced in December of 2007 and calls for zero landlord obligations. After the initial term, the tenant has two, 10-year options to extend. The subject property benefits from being located at a major intersection with over 25,000 VPD on Sawmill Pkwy.
The subject offering comes with upside potential from the 1.86 acre outparcel directly in front of the LA Fitness and adjacent to the CVS. This affords the Buyer the future opportunity to materially increase its value through a lease, sale, or development of the site.
Powell is an affluent city in Delaware County, Ohio, which has a population of 209,177 according to US. Census estimates. Powell sits between the Scioto and Olentangy Rivers, about 14 miles north of the state capital of Columbus, centered on the intersection of State Route 750 and C.R. 9. It sits within Liberty Township, the site of the first settlement in Delaware County.
The City of Powell’s historic downtown is the heart and soul its economic infrastructure. Thoughtfully designed civic architecture, attractive streetscapes, bountiful city services and ample parking provide a thriving business district amidst an intimate village environment. In July 2005, CNN Money and Money magazine ranked Powell 18 on its list of the 100 Best Places to Live in the United States. The city is located in Delaware County; a frequent placeholder on the List of highest-income counties in the United States, and 35th wealthiest county in the United States in 2020.
Columbus is the state capital and the largest and most populous city in the State of Ohio. With a population of 898,553 as of 2019 estimates, it is the 14th-most populous city in the United States and one of the fastest growing large cities in the nation. This makes Columbus the third-most populous state capital in the US (after Phoenix, Arizona and Austin, Texas) and the second-most populous city in the Midwest (after Chicago, Illinois). It is the core city of the Columbus, OH Metropolitan Statistical Area, which encompasses ten counties. Columbus is the county seat of Franklin County. The municipality has also annexed portions of adjoining Delaware, Pickaway and Fairfield counties.
In 2018, Money Magazine ranked Columbus as one of “The 10 Best Cities to Live in Right Now”. Columbus is one of the fastest-growing cities in the U.S.—and in the Midwest—with a population increase of nearly 11% in the past eight years and job growth of 14% in roughly the same period. Big 10 Ohio State University is the city’s biggest employer, and you can take advantage of the college town’s vibrant culture by attending a football game at Ohio Stadium, which seats over 100,000 people.
If college athletics aren’t your thing, check out one of the area’s 96 museums, such as the hands-on Center of Science and Industry, or the Columbus Museum of Art, featuring modern and contemporary works.