2217 Pearl StTacoma, WA 98406

For Sale
$5,000,000

Prime retail investment; strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 22,336-square-foot, single-tenant Planet Fitness located at 2217 N Pearl St in Tacoma, WA, within the Westgate South Shopping Center. The property, built in 1989 and extensively renovated in 2018, sits on a 1.895-acre lot and features a single-story building. The absolute NNN lease with a highly creditworthy, 80+ unit Planet Fitness franchisee ensures a stable income stream. Significant improvements include a new HVAC system, upgraded electrical, plumbing, and gas lines, and a new roof. The lease is structured to provide both stability and growth potential for the tenant, offering a secure investment for the landlord. The asking price is $5,000,000, translating to $223.85 per square foot. This property offers a compelling combination of a strong tenant, a well-maintained building, and a desirable location in a thriving retail center. The investment highlights include a secure income stream from a financially sound tenant and a long-term lease. This is an ideal opportunity for investors seeking a low-risk, high-return investment in a prime retail location. The property's location in Pierce County, WA, zip code 98406, provides excellent access to a large customer base.

Highlights

  • $5,000,000 asking price for a 22,336 square foot retail property.
  • Net-leased, absolute NNN investment opportunity.
  • Single-tenant, Planet Fitness franchisee occupancy.
  • Located at 2217 N Pearl St, Tacoma, WA 98406, within the Westgate South Shopping Center.
  • Property features include a 2018 renovation with new HVAC, electrical, plumbing, gas lines, and roof.
  • 1.895-acre lot, built in 1989, one-story building.

Property Details for 2217 Pearl St

Property type
Lifestyle centers, Power centers
Square Feet
22,336 SF
Year Built/Renovated
1989/2018
Buildings
1
Stories
1
Lot Size (sq. ft)
82,546 SF

Location Insight

City
Tacoma
County
Pierce
State
Washington
Latitude
47.268854632087
Longitude
-122.5144978137
2217 Pearl St, Tacoma, Washington

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2217 Pearl St
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