Technical
Financial
Distress signals
Property profile

111 38th St Tacoma, WA 98418

OFF-MARKET
Retail space
Property ID
US90-3325668
44,647 SF 3.67 ac lot Built 2003
Entity Owned 1-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 2,000 square foot retail space, located at 111 S 38th St, Tacoma, WA 98418, is situated within an existing and operational 24 Hour Fitness gym. The single-tenant space is ideal for a variety of fitness-related businesses. Suitable uses include, but are not limited to: martial arts, Brazilian Jiu Jitsu, kickboxing, boxing, self-defense instruction, physical therapy, sports rehabilitation therapy, chiropractic services, therapeutic massage, grappling, drip therapy, weight loss advisory services and related programs, health diagnostic screening and testing, and sales of sport, health, and wellness products and accessories, including workout apparel. The landlord will consider other complementary health, mental health, and wellness uses. Please note: Food and beverage preparation on-site is prohibited, as are pole dancing classes and uses requiring significant construction or utility upgrades. Rent includes common area maintenance, taxes, and utilities (excluding phone, cable, and internet). This Tacoma, Washington property presents a unique opportunity within the Seattle submarket.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2003
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 44,647 SF
Lot 3.67 ac (159,909 SF)
Zoning code C2
APN 7470021611
UPID US90-3325668

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Gym & Fitness Center
  • Gym & Fitness Center

Location

111 38th St Tacoma, WA 98418-7803
Tacoma metro Census 61900 SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$10.06M
CAP Approach CAP
$8.27M
Comparable Approach Comparable
$10.68M
Blend (final) Blend
$9.80M

Owner & transaction history

since 2025
Last sale
$9.5M
7 recorded transactions
2025
Price N/A
2025
$9.5M
2018
Price N/A
2018
Price N/A
2017
$13.5M
2017
Price N/A
2016
$5.6M

Zoning & alternative use

C2 · Tacoma, WA
Zoning description

C-2: General Community Commercial District The C-2 District is similar to the C -1 District however it is intended to serve a larger market area. Higher intensity uses of the permitted uses in the C -1 District are allow…

General category MIXED_USE
Top alternative use upside
Commercial (general) $13.8M +2.1%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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