24 Hour Fitness (Status: Available)
111, 38th St, Tacoma, WA 98418
*$340,000 Price Reduction – Now 6.25% Cap Rate*
7.43% Average Cap Rate Over Term
24 Hour Fitness | Tacoma, WA | New 20-Year Corporate Guaranteed NNN Lease
1) Long-Term, Corporate Lease: This 24 Hour Fitness moved into the former Albertsons in 2017 and signed a 20-year, NN lease with three additional option periods, showing their continued interest in the growing area.
2) Significant Recent Improvements: 24 Hour Fitness moved into the former Albertsons in 2017 and completed $4,000,000+ of tenant improvements to the property.
3) Structured 10% Rent Increases: Built into the lease and throughout all of the option periods are 10% increases every five years starting in year 4. These create strong NOI growth and provide a hedge against inflation over time.
Asset Class: Retail
Year Built: 2003
Building Total Square Feet: 44647
Available Lease Space Square Feet:
Number of Floors: 1
Total Parking Spaces: 0
Local Zoning Information: C2
Listing Courtesy of: Marcus & Millichap, Inc.
Disclaimer: The information contained in this listing has not been verified by Pacific Continental Realty, DBA North Sound Commercial and should be verified by the buyer, seller, or tenant.
Google Places API is currently unavailable.
You must specify a valid listing location, use street address in the listing title along with city, state & zip/postcode — if not use the optional latitude & longitude field.
- Unfortunately, your request was denied, generally because of lack of an invalid key parameter.