40,040 SF Retail For Sale — $14,870,800 — 1900 N Flamingo Rd, Pembroke Pines

Executive Summary
The NNN Fitness Group of Marcus & Millichap is pleased to present the opportunity to acquire a single-tenant LA Fitness located in Pembroke Pines, Florida. The 40,040 SF fitness facility is leased to Fitness International, LLC, the parent company of LA Fitness, under a long-term absolute NNN lease with more than eight years of remaining term. The offering provides investors with stable, passive cash flow backed by one of the nation’s largest health club operators, featuring a 6.25% cap rate and contractual rent increases throughout the remaining lease term.
Located along North Flamingo Road, which sees more than 40,000 vehicles per day, the property benefits from exceptional visibility within one of South Florida’s most established retail corridors. Pembroke Pines is home to more than 8 million square feet of retail space and generates approximately $4.8 billion in annual retail sales, supported by a dense residential population and strong consumer spending that drives long-term demand for retail and fitness uses.

Allowed by right

Multi-family Urban Residential housing (townhomes per applicant intent), governed by Sec. 155.113 Townhouse (TH-12) district except as amended by PUD guideline Table 6.0 item I