2880 Michelle Dr - Health Club FOR SALE


Irvine, CA 92606- Walnut
$19,700,000 USD
626-204-1531
2880 Michelle Dr, Irvine, CA for Sale
$19,700,000 USD
Health Club - FOR SALE
1/6
null | 5.77% Cap Rate

2880 Michelle Dr
Irvine, CA 92606
Walnut


HIGHLIGHTS

  • National Credit Tenant With Extra 15-Year Additional Committal to Initial Lease Term (9+ Years Remaining).
  • Long Term Lease With Multiple Renewal Options.
  • High Visibility, Signalized Corner Location With High Traffic Counts.
  • Planned Full Interior and Exterior Remodel.
  • Limited Landlord Responsibilities.

OVERVIEW

National Credit Tenant • Founded in 1984, LA Fitness, headquartered in Irvine, CA has become one of the largest full-service health club operators in the United States. With more than 700 locations in 32 states, LA Fitness dominates the nations health club chains. Long Term Lease with Multiple Renewal Options • This LA Fitness has been in successful operation since 2003 and has expressed their commitment to the location with a Lease until October of 2033, with three (3) five (5) year options to renew. High Visibility, Signalized Corner Location • The intersection of Jamboree Road and Michelle Drive is located in a high-traffic area that serves as a major hub for both local commuters and businesses. Jamboree Road is one of the city’s main thoroughfares, stretching from Newport Beach to the northern parts of Irvine, and connects to major highways like Interstate 5 and 405. This makes it a key route for daily commuters, both residential and corporate. The surrounding area includes a mix of office parks, retail centers, and residential communities, which generate consistent traffic throughout the day. Michelle Drive is part of Irvine’s business district, home to numerous corporate offices and commercial properties. The combination of nearby retail, dining options, and its proximity to key transportation routes ensures that Jamboree Road and Michelle Drive see a high volume of both vehicular and pedestrian traffic. Planned Full Interior and Exterior Remodel • An extensive renovation has been planned by LA Fitness for the interior and exterior of the property. Upgrades include interior improvements along with exterior upgrades not limited to: paint, signage, and landscaping set to enhance the façade of the building. Limited Landlord Responsibilities • Ideal for a landlord looking for a hands-off investment with limited landlord responsibilities. This long term lease with a credit tenant alleviates financial risks while securing reliable, passive income.

FOR SALE DETAILS

PRICE

$19,700,000 USD

PRICE/SF

$480 USD /SF

CAP RATE

5.77%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

LA Fitness

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Health Club

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

200

LAND DETAILS

LAND ACRES

4.4 AC

LAND SF

191,664 SF

ZONING

GI, Irvine

APN/PARCEL ID

432-391-55

ASK ABOUT THIS PROPERTY

Guillermo OlaizNAI CapitalMore Info
626-204-1531

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Guillermo OlaizNAI CapitalMore Info
626-204-1531

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.