Warehouse with Grade-Level
For Sale
Contact for pricing
14024 131st St E, Puyallup, WA 98374
Industrial warehouse with office space, structural mezzanine, and multiple grade-level loading doors.
Property Size9,690 SF
Lot Size1.30 Acres
Price / SF$335.40
Days on Market10
Property Features for 14024 131st St E
General Information
Standard status
Active
Size
9,690 SF
Lot size
1.30 Acres
Property subtype
INDUSTRIAL
Zoning
RIC
Warehouse & Industrial
Clear Height
22 ft
Office Build-Out
1,920 SF
Mezzanine
1,152 SF
Drive-In Doors
5
Power
300 amps
Voltage
480 V
Three-Phase Power
Yes
Building Details
Building Size
9,690 SF
Listing Agency:
Newmark
(425) 362-1400
Listed By:
Thad Mallory, SIOR
(425) 362-1410
Source:
Moodyscre
Added: Aug 24
Changed: Aug 29
Last Checked: Sep 1 at 11:29PM
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 Newmark
Investment Insights
Based on property information with market context.
This warehouse property includes 9,690 SF of building area, with 1,920 SF allocated to office space and an additional 1,152 SF structural mezzanine. The building offers clear heights ranging from 18 feet to 22 feet and five grade-level loading doors, including three measuring 16 feet by 16 feet and two measuring 12 feet by 12 feet.
The property occupies 56,628 SF of land, equal to 1.3 AC, at 14024 131st St E in Puyallup, Washington. Electrical service includes 225A at 120/240 single phase and 300A at 480 three phase. Zoning is RIC.
The property occupies 56,628 SF of land, equal to 1.3 AC, at 14024 131st St E in Puyallup, Washington. Electrical service includes 225A at 120/240 single phase and 300A at 480 three phase. Zoning is RIC.
Key Highlights
- 9,690 SF warehouse with 1,920 SF of office area
- 1,152 SF structural mezzanine
- Clear heights from 18’-22’
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$118,339
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,366,780
$2.4M
Cap Rate 7%
$1,690,557
$1.7M
Cap Rate 9%
$1,314,878
$1.3M
Market Conditions
NOI Build-Up for 9,690 SF
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.
Gross rent
$151.2K $15.60/SF
− Vacancy
−$11.9K −$1.23/SF
EGI
$139.2K $14.37/SF
− OpEx
−$20.9K −$2.16/SF
NOI
$118.3K $12.21/SF
Area
Pierce County, WA
Vacancy
7.90%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,366,780
Cap Rate 7%
$1,690,557
Cap Rate 9%
$1,314,878
Alternative Uses
Best Use
Warehouse
$1.69M
$1.48M – $1.97M
NOI $118,339 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.62M
$2.29M – $3.05M
NOI $183,201 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22 ft
Clear height
5
Drive-in doors
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98374, WA
45,367
Population
16,645
Households
2.7
Avg Household Size
37
Median Age
29%
College-Educated
94%
High-School Grad
16.4 sq mi
ZIP Area
2,766
Density / Sq Mi
$108,854
Median Household Income
$56,744
Median Earnings
$1,925
Median Rent
$491,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Winsome Terrace Storage — 12810 109th Ave Ct E, Puyallup, WA 98374
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with office space, structural mezzanine, and multiple grade-level loading doors.
Where is this warehouse located?
The property is located at 14024 131st St E Puyallup, WA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 9,690 SF warehouse with 1,920 SF of office area; 1,152 SF structural mezzanine; Clear heights from 18’-22’
