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Florida & Gulf Coast  + South Florida  + Retail  | 
LA Fitness Miami building sells for $15M

Miami LA Fitness Trades for $15.4M

A 45,000-square-foot building housing an LA Fitness athletic club in Miami has changed hands for $15.4 million. The price equated to $343 per square foot. The S. Florida Business Chronicle reports the fitness club will stay, having recently signed a 15-year net lease that brings in $925,000 a year for the owner. That would equate to a 6% cap rate.

Ram Realty Advisors sold the building. Two Miami Beach investors attached to Lumer Real Estate acquired the building. Miami-based Ocean Bank provided the buyer a 10-year, $3.54 million mortgage.

It’s situated on a 5.3-acre site. The LA Fitness is located within Ram Realty’s Botanica mixed-use project, which includes apartments, a Walmart Supercenter and several smaller retailers.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition
  • ◦Financing
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