Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1715 Meridian Ave E Edgewood, WA 98371

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Two-story commercial building with office and unfinished space.

    Lot size:
    0.46 Acres

    Property Features for 1715 Meridian Ave E

    General Information

    Standard status
    Active
    Lot size
    0.46 Acres

    Building Details

    Year built
    1935

    We can help!

    Listing Contact
    Chris Mcginnis
    Source: Corcoran

    Listing Agency: GATEWAY REAL ESTATE Listing Agent: Chris Mcginnis

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

    Learn more

    Overview

    Two-Story Commercial Building on Meridian

    This two-story commercial building on Meridian frontage offers a space suitable for business growth. The main floor provides 1271 square feet of finished office space, including a reception area, four offices, a bathroom, access to the downstairs area, and a kitchen. It is suitable for offices, retail, or professional services. The lower level, with its own entrance, offers an additional 900 square feet of unfinished area with roughed-in electrical and plumbing. This space is ready for storage, business expansion, or customization. The property is located in a high-traffic business area close to amenities, offering visibility and convenience for customers and employees. A large parking lot accommodates multiple vehicles, and there is easy access to the freeway. The seller is open to leasing the property.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Edgewood
    County
    Pierce
    State
    Washington
    Longitude
    -122.2935858
    Latitude
    47.2413516

    Nearby Similar for Sale

    • $825,000
      2,172 SF

      Two-Story Professional Building For Sale

      Two-story commercial building with renovation potential on Meridian Street.
      1715 Meridian Ave E, Edgewood, WA 98371
      View Details
    • Contact for pricing
      2,172 SF

      Two-Story Professional Building For Sale

      Two-story professional building with architectural features, great investment opportunity.
      1715 Meridian Ave E, Edgewood, WA 98371
      View Details
    • $15,000,000
      33,708 SF

      Well-Designed Church with Pastor Residence

      Spacious church with sanctuary, classrooms, and separate pastor residence.
      10622 8Th St E, Edgewood, WA 98372
      View Details
    • Contact for pricing

      Well-Designed Church with Pastor Residence

      Spacious church with sanctuary, classrooms, and separate pastor residence.
      10622 8Th St E, Edgewood, WA 98372
      View Details
    • Contact for pricing

      Edgewood Mixed-Use Property with Shop

      Updated home and large shop in prime Edgewood location.
      3618 Chrisella Rd, Edgewood, WA 98372
      View Details
    • Contact for pricing
      1,313 SF

      Westside Wood 55+ Community Home

      Private oasis in desirable 55+ community with pool and amenities.
      3409 99Th Ave E, Edgewood, WA 98371
      View Details

    FAQs

    What type of property is this?
    Office units - Two-story commercial building with office and unfinished space.
    Where is this office units located?
    The property is located at 1715 Meridian Ave E Edgewood, WA.
    What are key features of this property?
    This property features: - High-visibility location with Meridian frontage in a high-traffic business area.; - 1271 sqft of finished office space on the main floor, suitable for offices, retail, or professional services.; - Large parking lot with easy freeway access.
    (253) 904-1500
    Request Owner's contact information
    1715 Meridian Ave E Edgewood, WA 98371
    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.
    1715 Meridian Ave E
    Edgewood, WA 98371
    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
    1715 Meridian Ave E Edgewood, WA 98371
    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

    We can help!
    Listing Contact
    Chris Mcginnis
    (253) 904-1500
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!