2217 N Pearl St | Tacoma, WA 98406
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2217 N Pearl St
Tacoma, WA 98406
Retail Property For Sale
Investment Highlights
- Renewed Lease with Planet Fitness
- 23,570 VPD at N Peral St and N 26th St
Executive Summary
The offering is a 22,336 SF single tenant Planet Fitness located within the Westgate South Shopping Center in Tacoma, Washington. This opportunity benefits from a newly renewed lease with one of the largest Planet Fitness franchisees in the country.
The property is 100% leased to an 80+ unit franchisee of Planet Fitness, one of the largest in the country. The building has been significantly upgraded with new HVAC, upgraded electrical, plumbing and gas, a new roof and more. The existing lease is well-positioned to provide for both stability and opportunity for the existing tenant, as well as stable income and a strong guarantor for the investor/landlord.
Contact Brokers for NDA and complete Offering Memorandum.
The property is 100% leased to an 80+ unit franchisee of Planet Fitness, one of the largest in the country. The building has been significantly upgraded with new HVAC, upgraded electrical, plumbing and gas, a new roof and more. The existing lease is well-positioned to provide for both stability and opportunity for the existing tenant, as well as stable income and a strong guarantor for the investor/landlord.
Contact Brokers for NDA and complete Offering Memorandum.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
22,929 SF
Building Class
B
Year Built/Renovated
1989/2018
Price
$5,000,000
Price Per SF
$218
Cap Rate
5.80%
NOI
$290,000
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.28
Lot Size
1.90 AC
Zoning
TACO
Parking
100 Spaces (4.36 Spaces per 1,000 SF Leased)
Frontage
215 FT on Pearl St
Amenities
- Bus Line
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 704500-0374 | Improvements Assessment | $870,900 |
| Land Assessment | $2,170,700 | Total Assessment | $3,041,600 |
PROPERTY TAXES
Parcel Number
704500-0374
Land Assessment
$2,170,700
Improvements Assessment
$870,900
Total Assessment
$3,041,600
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