Lifestyle Family Fitness
4325 East 82nd Street
Indianapolis, IN 46240
| Price: |
$8,270,588 |
| CAP Rate: |
8.50% |
| Building Size: |
37,000 SF |
| Approx Lot Size: |
3.77 Acre(s) |
| Year Built: |
2008 |
Net Lease Investment: |
Yes |
| Existing Debt: |
No |
| Property On Ground Lease: |
No |
| 1031 Exchanges Acceptable: |
Yes |
Property Features- Lease Type: Net, Net Lease. Landlord shall maintain the roof, foundation, structure and landscaping
- Lease Term: Fifteen (15) years
- Lease Commencement: April, 2008
- Lease Renewal Options: Four (4) Five (5) year options
- Incredible Buy! Owner reduced price to $8,270,588 @ 8.50% Cap Rate. Rent Commences June 1, 2008
- Lifestyle opens for business July 1, 2008
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For more information contact:
Keith Sturm
(612) 332-6600
Upland Real Estate Group, Inc.
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Property Description
Lifestyle Family Fitness was founded in Lakeland, Florida in 1982 and currently owns and operates 45 locations throughout the US with 28 in the Florida market, nine in Ohio and now five in North Carolina with approximately 180,000 members. The International Health, Racquet and Sportsclub Assiciation (IHRSA) currently ranks Lifestyle as one of the top 25 fastest growing fitness companies in the world. All of the Lifestyle facilities include a variety of fitness equipment, group fitness classes, personal training, childcare and related amenities that help "Bring Your Body To Life." Investment partners include Quantum Capital Partners, Inc., Ballast Point Ventures and The Burton Partnership. Lifestyle corporate headquarters is located in St. Petersburg, Florida.
The subject property is situated at a signalized intersection in an incredible strategic location in a market that has not yet been penetrated by any other fitness facility. Lifestyle Family Fitness is located off East 82nd Street which is a major thoroughfare between 2 major Interstates (I-465 & I-65). Traffic counts on I-465 are 131,545 (As of 2005). This property is located approximately 0.90 miles from Fashion Mall at Keystone. The Fashion Mall at Keystone is located at the intersection of 86th Street and Keystone Avenue in Indianapolis, Indiana. With Saks Fifth Avenue and Parisian as its anchors, this upscale center offers 95 other specialty shops and restaurants, including The Cheesecake Factory, El Torito Grill, P.F. Chang's China Bistro and Sullivan's Steakhouse. New stores that opened in 2006 were Lucky Brand Jeans, Tommy Bahama's, Sony Style, Tiffany & Co. and BCBGMAXAZRIA. Also new to the Fashion Mall is Landmark's Keystone Art Cinema & Indie Lounge. Its exclusive stores include: Crate & Barrel, Sephora, Williams Sonoma Home, Restoration Hardware, Janie & Jack, L'Occitane, MAC Cosmetics, Pottery Barn Kids, Coach, Brighton Collectibles, Cynde's Shoes and many others.
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