2401 Pearl St Tacoma, WA 98406

This exceptional investment opportunity presents a 43,327-square-foot single-tenant Big Lots storefront located at 2401 N Pearl St, Tacoma, WA 98406, within the Westgate South Shopping Center. The property boasts a strong 6.00% cap rate and a current NOI of $303,289, based on a below-market rent of $7 per square foot per year, offering significant future rental upside potential upon lease expiration on January 31, 2027. The offering price of $5,055,000 represents a compelling $117 per square foot, substantially below replacement cost. This particular Big Lots location consistently ranks among the top performers in the region and is strategically positioned as the only remaining Big Lots store in Pierce County following recent store closures. The property benefits from high visibility and accessibility on the busy Pearl Street corridor, anchored by strong co-tenants including Planet Fitness, Starbucks, McDonald's, and MOD Pizza. The lease is a Net Lease (NNN) with two, five-year renewal options, minimizing landlord responsibilities. This is a rare opportunity to acquire a high-performing, single-tenant retail asset in a prime Tacoma location with substantial upside potential. The property is a single building on a 43,327 square foot lot. This is a 100% occupied property with a strong tenant history.