111 S 38th St | Tacoma, WA 98418
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- LoopNet Team
111 S 38th St
Tacoma, WA 98418
24 Hour Fitness · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 24 Hour Fitness USA, Inc., a premier fitness chain with over 300 clubs nationwide, guarantees the lease, providing investors with financial stability
- 24 Hour Fitness has been a valued tenant since 2018, and invested over $3 million in tenant improvements, demonstrating their commitment to the locati
- Located in a densely populated area of Tacoma, benefiting from significant daily foot and vehicle traffic. Situated in a neighborhood with strong popu
- 24 Hour Fitness had a once time option to terminate their lease in September of 2024. They waived this right highlighting their commitment to the loca
- Future ownership will benefit from 10% rent increases every five years, offering a hedge against inflation and consistent rent growth through 2038.
- Operating under a Triple Net (NNN) lease, 24 Hour Fitness assumes nearly all property expenses, including taxes, insurance, and maintenance. The landl
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
44,647 SF
Building Class
B
Year Built/Renovated
2003/2017
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.28
Lot Size
3.67 AC
Zoning
CCX
Parking
110 Spaces (2.46 Spaces per 1,000 SF Leased)
Frontage
290’ on S 38th St
AMENITIES
- Bus Line
- Signage
PROPERTY TAXES
| Parcel Number | 747002-1611 | Improvements Assessment | $8,733,100 |
| Land Assessment | $3,130,500 | Total Assessment | $11,863,600 |
PROPERTY TAXES
Parcel Number
747002-1611
Land Assessment
$3,130,500
Improvements Assessment
$8,733,100
Total Assessment
$11,863,600
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