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Property profile & analytics
OFF-MARKET
Estimated value
$3,175,000
Retail space
817 72nd St Tacoma, WA 98404-1094
Entity Owned
10-yr Hold
Free & Clear
Property ID
US90-1642386
Property summary
AI-generated overview
This exceptional investment opportunity presents a fee-simple ownership of a 22,450-square-foot Planet Fitness located at 817 E 72nd St, Tacoma, WA 98404, within the Seattle MSA. The property sits on a 2.38-acre lot and boasts a strong absolute NNN lease structure, eliminating landlord responsibilities. The current lease commenced March 1, 2024, and extends until February 28, 2034, providing a substantial remaining lease term of approximately 9.3 years. The property features a 6.20% cap rate and a Net Operating Income (NOI) of $249,696. Built in 1957 and renovated in 2016, this single-tenant building enjoys 100% occupancy. The tenant is a franchisee operating over 80 units, demonstrating financial strength and operational expertise. Rent increases are built into the lease, with a 10% bump every five years, ensuring consistent income growth. This is a prime opportunity for investors seeking a secure, high-performing retail asset with a long-term, stable tenant. The property is offered at an asking price of $4,027,355.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1957
Construction
WOOD FRAME
Total area
15,185 SF
Lot
2.38 ac (103,542 SF)
Zoning code
M1
APN
320272089
UPID
US90-1642386
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
-
Planet Fitness Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.81M
Comparable Approach
Comparable
$3.46M
Blend (final)
Blend
$3.18M
Owner & transaction history
Jeg-viper Mckinley Ptrs LLC · 10 yrs held
Jeg-viper Mckinley Ptrs LLC
since 2016
3 recorded transactions
Zoning & alternative use
M1 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.7M
+2.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tacoma submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tacoma submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,045,000
6.5%
$2,810,000
7%
$2,610,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,585,000
Current use
COMMERCIAL (GENERAL)
$4,680,000
Change: +2% · Conversion: Easy
WAREHOUSE, STORAGE
$4,550,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$3,715,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$3.18M
Range $2.86M – $3.49M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$209 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$29,210
Tax year 2024
Assessed value
$2,628,800
Assessed 2024
Previous assessed
$2,628,800
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,716,000
Assessed improvement
$912,800
Land market value
$1,716,000
Improvement market value
$912,800
Total market value
$2,628,800
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1957
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
1
Total area
15,185 SF
Lot
2.38 ac (103,542 SF)
Zoning code
M1
APN
320272089
UPID
US90-1642386
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
M1 · Tacoma, WA
Zoning M1 · permitted uses
M1 · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tacoma. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$4.7M
WAREHOUSE, STORAGE
Est. value
$4.6M
MEDICAL BUILDING
Est. value
$3.7M
RETAIL STORES Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1957
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
2.38 ac
Current owner
From public records · entity-resolved
Jeg-viper Mckinley Ptrs LLC
Entity
Free & Clear · 10 yrs held
Mailing address
2800 SOUTHAMPTON RD, PHILADELPHIA, PA 19154-1207
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2016
$1,492,500
Jeg-viper Mckinley Ptrs LLC
Mckinley 72 LLC
Warranty Deed
—
Aug 22, 2001
—
Mckinley 72 LLC
Fouschee,jeffrey C & Jana S
Quit Claim Deed
related
—
Mar 25, 1991
$412,520
Mc Kinley Partnership
Unknown
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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