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    2217 Pearl St Tacoma, WA 98406

    Sponsored
    For Sale
    $5,000,000

    Prime retail investment; strong tenant.

    Property size:
    22,336 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    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.

    Property Features for 2217 Pearl St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    22,336 SF
    Lot Size
    82,546 SF

    Building Details

    Year Built/Renovated
    1989/2018
    Buildings
    1
    Stories
    1

    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 Profile Location Intelligence

    Current Use by Public Records

    Planet Fitness Gym

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.5144978137
    Latitude
    47.268854632087

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    FAQs

    What type of property is this?
    Lifestyle center - Prime retail investment; strong tenant.
    Where is this lifestyle center located?
    The property is located at 2217 Pearl St Tacoma, WA.
    What is the asking price?
    The asking price for this property is $5,000,000.
    What are key features of this property?
    This property features: $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.
    Request Owner's contact information
    2217 Pearl St Tacoma, WA 98406
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2217 Pearl St Tacoma, WA 98406
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