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 North Sound Commercial, a division of Pacific Continental Realty, LLC and should be verified by the buyer, seller, or tenant.
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