Downtown Puyallup Corner Lot
436 2nd Street NE Puyallup, WA 98372
436 2nd Street NE, Puyallup, WA, 98372
$1,125,000
For Sale
$1,125,000
Office building in central business district with development potential.
Property Size4,272 SF
Lot Size0.25 Acres
Price / SF$263.34
Days on Market392
Property Features for 436 2nd Street NE
General Information
- Standard status
- Active
- Size
- 4,272 SF
- Lot size
- 0.25 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1949
Listing agency
BETTER PROPERTIES SUMMIT
(253) 537-7653
Listed by
ROBERT LABRASH
Source
Corcoran
Added: Jun 26, 2025 Updated: Jul 6 at 10:01AM Checked: Jul 21 at 5:11AM
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 BETTER PROPERTIES SUMMIT
Investment Insights
Based on property information with market context.
Located in downtown Puyallup, this office building benefits from central business district zoning. Situated on a desirable corner lot across from War Memorial Park, the location provides signage visibility for northbound traffic on 2nd Street NE and southbound traffic on Meridian. The existing office building has 4272 square feet, with approximately 3000 square feet on the street level floor. The basement floor is accessible via an interior stairway and a separate exterior stairway. There are 14 parking spaces along the south side of the building, accessed by a dedicated alley off of 5th Avenue, as well as street parking on 5th Avenue. Future development possibilities on this site could include construction up to six or seven stories after the proposed New Growth Management Act is approved and implemented.
Key Highlights
- Prime corner lot location in downtown Puyallup's central business district.
- High signage visibility to North and South bound traffic.
- Potential for future development up to 6‑7 stories (subject to new growth management act).
Local Financial Insights For Office B
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 | $93.8k | $21.96 |
| − Vacancy | −$13.1k | −$3.07 |
| EGI | $80.7k | $18.89 |
| − OpEx | −$20.2k | −$4.72 |
| NOI | $60.5k | $14.16 |
4,272 SF · lease $21.96/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$864.4K
$756.4K – $1.01M
NOI $60,509 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,767 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Nationwide Insurance: A&R ...
Insurance Agency
Lee LaBrash Real ...
Real Estate Agency
Fleet Safety Consultants ...
Training Center
Lori Deitt
Real Estate Agency
Fran Parker, Lee ...
Real Estate Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Office building in central business district with development potential.
Where is this office building located?
The property is located at 436 2nd Street NE Puyallup, WA.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Prime corner lot location in downtown Puyallup's central business district.; High signage visibility to North and South bound traffic.; Potential for future development up to 6‑7 stories (subject to new growth management act).
