Puyallup Two-Story Commercial
126 15th Street SE Puyallup, Puyallup, WA 98372
Two-story, 4,488 SF commercial building in Puyallup, Washington.
Type:Commercial
Property size:
4,488 SFPrice / SF:
$265/SF- Added:
- Mar 31, 2025
- Days on Market:
- 430
- Last Refresh:
- May 10 at 9:28 pm
Property Features for 126 15th Street SE Puyallup
General Information
- Standard status
- Active
- Size
- 4,488 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1937
Listing agent DAVID HILBERT
Listing office REAL ESTATE 2000 CORP.
Listing date Mar 31, 2025
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 REAL ESTATE 2000 CORP.
HighLights
- Prime commercial location just off Main St in Puyallup.
- Versatile 4,488 square foot two‑story building suitable for owner/user or investor.
- Potential for attractive 9% or more cap rate.
- Includes 10 offices, 3 conference rooms, and several large open spaces.
- 21 dedicated parking spaces.
- Previously used as a medical office with other floorplan options.
Overview
Located just off Main Street in Puyallup, Washington, this two-story commercial building offers 4,488 square feet of space suitable for an owner-user or investor. The building features 10 offices, 3 conference rooms, and several large open spaces. There are 21 dedicated parking spaces available. Previously used as a medical office, the floor plan offers various options for alternative uses. The property is positioned as an income-generating asset with potential for a strong return on investment.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $123.3k | $27.48 |
| − Vacancy | −$17.3k | −$3.85 |
| EGI | $106.1k | $23.63 |
| − OpEx | −$42.4k | −$9.45 |
| NOI | $63.6k | $14.18 |
4,488 SF · lease $27.48/SF/yr · vacancy 14.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$909.1K
$795.5K – $1.06M
NOI $63,638 @ 7.0% cap · market cap 5.35%
Second Best
Office B
$908.1K
$794.6K – $1.06M
NOI $63,569 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,851 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Location Insight
- Map
- Local Demand
- City
- Puyallup
- County
- Pierce
- State
- Washington
- Longitude
- -122.275
- Latitude
- 47.191
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Two-story, 4,488 SF commercial building in Puyallup, Washington.
Where is this medical office space located?
The property is located at 126 15th Street SE Puyallup Puyallup, WA.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Prime commercial location just off Main St in Puyallup.; Versatile 4,488 square foot two‑story building suitable for owner/user or investor.; Potential for attractive 9% or more cap rate.
