2217 Pearl StTacoma, WA 98406

  • Retail properties
  • 22,352 SF
For Sale
$5,000,000 View listing

Property Details for 2217 Pearl St

Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
1.89 AC
Property size (Sq ft)
22,352 SF
Zone code
CCX
Property type
Retail properties
Property subtype
Retail space
APN
7045000374
APU
7045000374

Description

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.

2217 Pearl St, Tacoma, Washington

Location Insight

City
Tacoma
County
Pierce
State
Washington
Latitude
47.2688
Longitude
-122.514
CBSA code
42660
CBSA name
SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$33,795
$2,170,700
$870,900
$3,041,600
-
$2,170,700
$870,900
$3,041,600

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