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2401 N Pearl St

43,327 SF Retail Building Tacoma, WA 98406 $5,055,000 ($117/SF) 6% Cap Rate

Storefront Properties Washington Tacoma 2401 N Pearl St, Tacoma, WA 98406

Investment Highlights

  • Big Lots rent is $7/SF/Year, providing future rental upside if the investor were to get the space back from Big Lots
  • Historically and presently one of the top performing Big Lots in the region. This location is not on the store closure list
  • Single Tenant asset with minimal Landlord obligations
  • The $117/SF offering price is significantly below replacement cost
  • Significant Access, Frontage and Visibility - Big Lots benefits from excellent access and visibility on the highly trafficked Pearl Street
  • Big Lots anchors Westgate South Shopping Center with strong adjacent tenancy of Planet Fitness, Starbucks, McDonald’s, and MOD Pizza

Executive Summary

The Offering is a 43,327 SF single tenant Big Lots located in the Westgate South Shopping Center. The Offering benefits from a below market rent, low price/SF, future upside, and an excellent location in a high income neighborhood retail corridor.
This Big Lots location has consistently been a top performing store and will be the only Big Lots located in Pierce County based on the announced store closures.

Attachments

Big Lots_Brochure_Compressed

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
43,327 SF
Building Class
B
Year Built/Renovated
1986/1991
Price
$5,055,000
Price Per SF
$117
Cap Rate
6%
NOI
$303,300
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Land Acres
3.95 AC
Zoning
CCX
Parking
214 Spaces (4.94 Spaces per 1,000 SF Leased)
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2401 N Pearl St, Tacoma, WA - aerial map view
Walk Score ®
Very Walkable (76)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

Nearby Major Retailers

Bank of America
Umpqua Bank
Planet Fitness
MOD Pizza
Starbucks
StretchLab
Chase Bank
The Habit Burger Grill
Safeway
Anytime Fitness

PROPERTY TAXES

Parcel Number 704500-0371 Improvements Assessment $708,400
Land Assessment $3,770,900 Total Assessment $4,479,300

PROPERTY TAXES

Parcel Number
704500-0371
Land Assessment
$3,770,900
Improvements Assessment
$708,400
Total Assessment
$4,479,300
(206) 518-9567

  • Listing ID: 33171469

  • Date on Market: 9/13/2024

  • Last Updated:

  • Address: 2401 N Pearl St, Tacoma, WA 98406

More public record information on 2401 N Pearl St, Tacoma, WA 98406

The Retail Property at 2401 N Pearl St, Tacoma, WA 98406 is currently available For Sale. Contact Newmark for more information.

Retail PROPERTIES IN NEARBY NEIGHBORHOODS

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2401 N Pearl St
(206) 518-9567 x

2401 N Pearl St

1/3

Billy Sleeth

(206) 518-9567

(206) 518-9567

Paul Sleeth

(206) 518-9567

(206) 518-9567

Roger Oser

(650) 358-5262

(650) 358-5262

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