Anchored Shopping
New
For Sale
$15,605,000
13317 Meridian E, Puyallup, WA 98373
A fully occupied retail property combines cinema, restaurant, and service tenants across multiple parcels.
Property Size66,552 SF
Lot Size8.85 Acres
Price / SF$234.48
Days on Market5
Property Features for 13317 Meridian E
General Information
Standard status
Active
Size
66,552 SF
Lot size
8.85 Acres
Property subtype
Shopping Community
Zoning
TCTR
Occupancy
100%
Site & Location
Anchor Co-Tenants
Regal Cinemas, Buffalo Wild Wings, IHOP, Cold Stone Creamery
Traffic Count
43,000 vehicles/day
Additional Details
Tenant in Place
Yes
Amenities
100% Occupied Shopping Center
Large 8.85 Acres Lot w/ Re-dev Opportunity
Massing Study Demonstrates Possible Density of 265 Units + 50,000 SF of New Retail
Buffalo Wild Wings Recent Remodel
New Roof installed in 2026 on Retail Strip
Five Separate Tax Parcels / Parcelization Strategy
Strategic Location / High Traffic Counts
Multiple Pad Sites Ready for Development
Building Details
Building Size
66,552 SF
Year Built
1999
Tenancy
Multi
Listing Agency:
Seattle Office
Listed By:
Clay Brown · License #License(s): WA: 123258, ID: SP56979
(206) 826-5787
Source:
Marcusmillichap
Added: Oct 24
Changed: Oct 25
Last Checked: Oct 26 at 12:41PM
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 Seattle Office
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Investment Insights
Based on property information with market context.
Longston Place is a 66,552-square-foot shopping center on 8.85 acres, built in 1999 and fully occupied. Regal Cinemas, Buffalo Wild Wings, IHOP, and Cold Stone Creamery anchor the property, alongside a retail strip that includes a dentist. The site consists of five tax parcels, including separate parcels for Buffalo Wild Wings and the IHOP-anchored strip. Buffalo Wild Wings completed a remodel in October 2024, and the strip received a new roof in 2026 with a transferable 15-year warranty.
The property fronts Meridian Street (SR 161), a commercial corridor carrying 43,000+ vehicles per day. TCTR (Town Center) zoning allows high-density mixed-use development. A massing study outlines a scenario with 265 apartments and 50,000 SF of retail replacing the Regal Cinemas building, while retaining the existing Buffalo Wild Wings and retail strip. The site also has room for two to three potential pad sites for build-to-suit or ground-lease development.
The property fronts Meridian Street (SR 161), a commercial corridor carrying 43,000+ vehicles per day. TCTR (Town Center) zoning allows high-density mixed-use development. A massing study outlines a scenario with 265 apartments and 50,000 SF of retail replacing the Regal Cinemas building, while retaining the existing Buffalo Wild Wings and retail strip. The site also has room for two to three potential pad sites for build-to-suit or ground-lease development.
Key Highlights
- Fully occupied 66,552‑square‑foot shopping center on 8.85 acres
- Anchored by Regal Cinemas, Buffalo Wild Wings, IHOP, and Cold Stone Creamery
- Five tax parcels, including separate parcels for Buffalo Wild Wings and the IHOP‑anchored strip
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$576,926
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,538,520
$11.5M
Cap Rate 7%
$8,241,800
$8.2M
Cap Rate 9%
$6,410,289
$6.4M
Market Conditions
NOI Build-Up for 66,552 SF
Gross rent
$958.3K $14.40/SF
− Vacancy
−$134.2K −$2.02/SF
EGI
$824.2K $12.38/SF
− OpEx
−$247.3K −$3.72/SF
NOI
$576.9K $8.67/SF
Area
Pierce County, WA
Vacancy
14.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,538,520
Cap Rate 7%
$8,241,800
Cap Rate 9%
$6,410,289
Alternative Uses
Best Use
Retail
$8.24M
$7.21M – $9.62M
NOI $576,926 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.97M
$15.73M – $20.97M
NOI $1,258,248 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
43,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 98373, WA
28,165
Population
11,113
Households
2.5
Avg Household Size
35
Median Age
26%
College-Educated
94%
High-School Grad
9.4 sq mi
ZIP Area
2,996
Density / Sq Mi
$102,791
Median Household Income
$51,865
Median Earnings
$1,823
Median Rent
$517,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - A fully occupied retail property combines cinema, restaurant, and service tenants across multiple parcels.
Where is this shopping center located?
The property is located at 13317 Meridian E Puyallup, WA.
What is the asking price?
The asking price for this property is $15,605,000.
What are key features of this property?
This property features: Fully occupied 66,552‑square‑foot shopping center on 8.85 acres; Anchored by Regal Cinemas, Buffalo Wild Wings, IHOP, and Cold Stone Creamery; Five tax parcels, including separate parcels for Buffalo Wild Wings and the IHOP‑anchored strip
