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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.
Coming soon! The Picklr Premium Indoor Pickleball Courts, one of the fastest growing brands in the fastest growing sector. Ideal co-tenancy with Planet Fitness.
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.
Coming soon! The Picklr Premium Indoor Pickleball Courts, one of the fastest growing brands in the fastest growing sector. Ideal co-tenancy with Planet Fitness.
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
$6,884,450 CAD
Price Per SF
$300.25 CAD
Cap Rate
5.80%
NOI
$399,298 CAD
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’ on Pearl St
AMENITIES
- Bus Line
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 704500-0374 | Improvements Assessment | $1,135,602 CAD |
| Land Assessment | $3,364,673 CAD | Total Assessment | $4,500,274 CAD |
PROPERTY TAXES
Parcel Number
704500-0374
Land Assessment
$3,364,673 CAD
Improvements Assessment
$1,135,602 CAD
Total Assessment
$4,500,274 CAD
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