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Property profile & analytics
OFF-MARKET Estimated value $9,735,000
Retail space

111 38th St Tacoma, WA 98418-7803

44,647 SF 3.67 ac lot Built 2003
Entity Owned 1-yr Hold ~ Est. High Equity
Property ID
US90-3325668
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Gym Gym & Fitness Center
  • 24 Hour Fitness Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$10.06M
CAP Approach CAP
$8.27M
Comparable Approach Comparable
$10.68M
Blend (final) Blend
$9.74M
Owner & transaction history
Whtac24 LLC · 1 yrs held
Whtac24 LLC
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
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general) $13.8M +2.1%
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