This exceptional investment opportunity presents a 5,668 square foot storefront located at 215 S 72nd St, Tacoma, WA 98408. The property, built in 1973 and situated on an 18,734 square foot lot, is currently 100% occupied by Pawn 1, a well-established business with 26 locations in Washington and Idaho, operating for over 43 years. The property benefits from a strong corporate guarantee and a Net Lease (NNN) structure with annual 2.5% rent increases, providing protection against inflation. The current lease, commenced March 30, 2018, has a remaining term of approximately 3.4 years, expiring March 31, 2028. The asking price is $1,825,000, representing a price per square foot of $321.98 and a 6.75% cap rate based on a Net Operating Income (NOI) of $123,228. The property enjoys a prime location adjacent to a high-performing Fred Meyer grocery store and a newly constructed 134-unit apartment complex in Tacoma, Washington's third-largest city, projected to add 127,000 residents and 97,000 jobs by 2040. This presents a stable, passive investment opportunity with significant long-term growth potential. The property's strong tenant, favorable lease terms, and strategic location make it an attractive addition to any investment portfolio.
Highlights
5,668 SF storefront in Tacoma, WA, currently 100% occupied by Pawn 1.
Strong corporate guarantee from Pawn 1, a well-established business with 26 locations.
Net Lease (NNN) with 2.5% annual rent increases.
Prime location adjacent to a high-performing Fred Meyer and a new 134-unit apartment complex.
Tacoma's projected growth includes 127,000 new residents and 97,000 new jobs by 2040.
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Contacts
David Gellner
Parker Ksidakis
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215 72Nd St, Tacoma, Washington, 98408
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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215 72Nd St
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