111 S 38th St
Tacoma WA 98418
24 Hour Fitness
111 S 38th St Tacoma WA 98418
Listing #: 689252 | Status: Available | Last Modified: 11/20/2024 |
For Sale
- Phone:(206) 946-9425
- Email:kevin.verger@kidder.com
- Office Name:Kidder Mathews
- Office Phone:(208) 362-8600
- Office Website:
- Agent Phone:(206) 600-8500
- Agent Email:Maggie.verger@kidder.com
- Call Listing AgentNo
- Use DiscretionNo
VIEW_WITH_DISCRETION
- Listing Price$ 10,990,000.0
- $/SF$ 246.2
- Listing StatusAvailable
- Days on Market13
- Asset ClassRetail
- Terms
- Investment Type
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor24 Hour Fitness
- Crane Count
- Crane Tonnage0
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Second Road Front
- Grade Level Door Count
- Tennant Improvement Allowance
- Building StatusExisting
- # of Buildings1
- # of Floors1
- # of Units
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF44647
- Net Rentable Area44647
- Total Office SF
- Largest Contiguous SF
- Lot SF159865
- Acres3.67
- Property TypeRetail
- Office TypeSingle Tenant
- InvestmentYes
- Building Class
- CountyPierce
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaAllenmore Medical District
- Tax ID #7470021611
- Additional Parcels
- ZoningTAC
- Year Built2003
- Year Renovated2017
- Completion Date
- Roof Type
- Construction Type
111 S 38th St, Tacoma, WA 98418
We are pleased to present a rare opportunity to acquire a Corporate Leased Single-Tenant NNN 24-Hour Fitness with over 13 years remaining on the lease. In 2018, 24 Hour Fitness invested $3M in tenant improvements and recently waived their one-time right to an early termination, solidifying their long-term commitment to the property and showcasing their confidence in the location. Strategically located on S 38th St, Tacoma’s primary retail corridor, the property is surrounded by national retailers like Costco, Target, and Walgreens. Its proximity to major highways, including Hwy 16 and I-5, ensures high visibility and ease of access, positioning this asset for long-term success. Investment Highlights: - Corporate Guaranteed Lease: 24 Hour Fitness USA, Inc., a premier fitness chain with
Big Box