Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Retail Building with High Visibility Title is generated by Realmo AI

    10120 128th St Ct E, Puyallup, WA 98373

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,250,000

    5,375 SF retail building with high traffic and visibility.

    Type:Commercial
    Property size:
    5,375 SF
    Lot size:
    0.77 Acres
    Price / SF:
    $418/SF
    Added:
    Feb 6, 2026
    Days on Market:
    100
    Last Refresh:
    Apr 5 at 8:25 pm

    Property Features for 10120 128th St Ct E

    General Information

    Standard status
    Active
    Size
    5,375 SF
    Lot size
    0.77 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1984

    We can help!

    Listing Contact
    DEAN ALTARAS

    Listing agent DEAN ALTARAS

    Listing office NAI PUGET SOUND PROPERTIES

    Listing date Feb 6, 2026

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI PUGET SOUND PROPERTIES

    HighLights

    • High Visibility Location with Substantial Pylon Signage and 44,000 VPD
    • Recent 2023 Roof Replacement
    • Recent 5‑Year Lease Extension Illustrates Tenant’s Long‑Term Commitment
    • CAP Rate: 6.7%
    • Full Access to 128th St E and Meridian E at Signalized Intersection
    • 5,375 SF building on a 33,401 SF lot

    Overview

    This property features a 5,375 square foot building situated on a 33,401 square foot lot. The property benefits from high visibility and substantial pylon signage, with a traffic count of 44,000 vehicles per day on State Route 161/Meridian East. Access is available to 128th Street East and Meridian East at a signalized intersection. There are 21 parking stalls, plus one designated handicap stall. A graveled storage yard is located on the south side of the property. The property is located in a strong retail trade area, surrounded by national and regional tenants. A recent 5-year lease extension indicates the tenant’s long-term commitment to the location. The roof was recently replaced in 2023.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Puyallup
    County
    Pierce
    State
    Washington
    Longitude
    -122.294
    Latitude
    47.1396

    Nearby Similar for Sale

    • $2,250,000
      5,375 SF

      Puyallup Single Tenant Investment Property

      Single tenant investment property in Puyallup with long-term tenant.
      10120 128th Street E, Puyallup, WA 98373
      View Details
    • $1,950,000
      5,200 SF

      South Hill Investment Property

      Multi-tenant building with long-term tenants in South Hill.
      10202 149th Street East, Puyallup, WA 98374
      View Details
    • $679,000
      1,843 SF

      Puyallup Office Space For Sale

      Commercial office space with detached garage and storage in Puyallup.
      2606 E Main, Puyallup, WA 98372
      View Details
    • $515,000
      3,368 SF

      Charming 1920s Home/Office Opportunity

      1920s home rezoned for business in Puyallup's Central Business District.
      413 2nd St NE, Puyallup, WA 98372
      View Details
    • $2,250,000
      5,375 SF

      Puyallup Retail Building For Sale

      5,375 SF building on 33,401 SF lot in Puyallup, WA.
      10120 128th St Ct E, Puyallup, WA
      View Details
    • $23
      160,000 SF

      Class-A Office Space Available

      160,000 RSF of Class-A office space in Puyallup, WA.
      1015 & 1019 39th Avenue SE, Puyallup, WA 98371
      View Details
    • $0.90
      8,255 SF

      Warehouse/Flex Space in Puyallup

      8,255 SF warehouse/flex space available September 1, 2025.
      1019 39th Avenue SE, Puyallup, WA 98371
      View Details
    • $2,250,000
      5,375 SF

      Puyallup Retail Investment Opportunity

      Single tenant retail property with long-term tenant in Puyallup.
      10120 128th Street E, Puyallup, WA 98373
      View Details
    • $425,000
      1,896 SF

      Puyallup Office Building For Sale

      1,896 SF building on 22,826 SF parcel in Puyallup.
      8522 128th Street East, Puyallup, WA, 98373
      View Details
    • $1,650,000
      5,268 SF

      Two-Story Building Near South Hill

      Well-maintained building near South Hill Mall, Puyallup, WA.
      921 40th Ave SW, Puyallup, WA 98373
      View Details
    • $1.05
      11,050 SF

      Puyallup Industrial Space Available

      Industrial space for lease near SR-512, I-5, and SR-167.
      5508 128th Street E, Puyallup, WA 98373
      View Details
    • $1,100,000
      3,498 SF

      Puyallup Office Units For Sale

      Two office units available for purchase in Puyallup, Washington.
      2802 & 10116 S Meridian, Puyallup, WA 98371
      View Details

    FAQs

    What type of property is this?
    Retail space - 5,375 SF retail building with high traffic and visibility.
    Where is this retail space located?
    The property is located at 10120 128th St Ct E Puyallup, WA.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: High Visibility Location with Substantial Pylon Signage and 44,000 VPD; Recent 2023 Roof Replacement; Recent 5‑Year Lease Extension Illustrates Tenant’s Long‑Term Commitment
    (425) 586-5604
    We can help!
    Listing Contact
    DEAN ALTARAS
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    10120 128th St Ct E, Puyallup, WA 98373
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!