Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Puyallup Warehouse with Office Space Title is generated by Realmo AI

    938 Valley Avenue NW, Puyallup, WA 98371

    View on Map
    Claim this Listing
    For Lease
    $24,496 SF/Yr $56,822,554/Mo (calc)

    27,836 SF warehouse with office, dock doors, and parking.

    Type:Commercial
    Property size:
    27,836 SF
    Added:
    Jan 21, 2026
    Days on Market:
    134
    Last Refresh:
    Apr 5 at 11:18 pm

    Property Features for 938 Valley Avenue NW

    General Information

    Standard status
    Active
    Size
    27,836 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2007

    We can help!

    Listing Contact
    ARIE SALOMON, SIOR, CCIM

    Listing agent ARIE SALOMON, SIOR, CCIM

    Listing office NAI PUGET SOUND PROPERTIES

    Listing date Jan 21, 2026

    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 NAI PUGET SOUND PROPERTIES

    HighLights

    • Excellent I‑5 / SR167 access
    • 27,836 SF (2,994 SF Office)
    • 3 Dock High Doors
    • 2 Grade Level Doors
    • 30’ Clearance
    • Corner unit with tons of parking

    Overview

    This commercial property offers 27,836 square feet of space, including 2,994 square feet of office area. The warehouse features three dock-high doors and two grade-level doors, with a 30-foot clearance height. It is a corner unit that offers ample parking. The property provides convenient access to I-5 and SR167. The rental rate is $0.88 per square foot for the shell space, with an additional $1.30 per square foot for the office space. The property is available now.
    Property Profile Location Intelligence

    Current Use by Public Records

    Clopay Big Box & Wholesale Store Safelite AutoGlass General Contractor

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center

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

    Similar Places Nearby

    • SmartStop Self Storage — 1401 N Meridian Ave, Puyallup, WA 98371

    Location Insight

    • Map
    • Local Demand
    City
    Puyallup
    County
    Pierce
    State
    Washington
    Longitude
    -122.309
    Latitude
    47.2133

    Nearby Similar for Lease

    • $7,100/Mo
      4,076 SF

      Warehouse, Yard, and Office Space

      Warehouse with office, yard, and ample parking for lease.
      16609 110th Avenue East, Puyallup, WA 98374
      View Details
    • $16,023/Mo
      8,740 SF

      Retail Storefront with High Ceilings

      Retail storefront available in an active commercial corridor with high ceilings, fire sprinklers, and ample parking.
      12811 Canyon Rd E, Puyallup, WA 98373
      View Details
    • $0.35 SF/Yr
      24,120 SF

      Puyallup Industrial Spaces Available

      Industrial warehouse spaces and fenced yard in prime Puyallup location.
      1703 19th Ave NW, Puyallup, WA 98371
      View Details
    • $63,000 SF/Yr
      3,150 SF

      Versatile Space in Arabella Park

      Mixed-use space with retail, office, and industrial options.
      13909 Meridian E, Puyallup, WA 98374
      View Details
    • $8,780/Mo
      5,268 SF

      Two-Story Office Building Near Mall

      Well-maintained office building divisible by floor near South Hill Mall.
      921 40th Ave SW, Puyallup, WA 98373
      View Details
    • $2,581/Mo
      1,475 SF

      Puyallup Office Suite For Rent

      Modern office suite in Evergreen Professional Center, Puyallup.
      1002 39th Ave SW, Puyallup, WA 98373
      View Details
    • $8,000/Mo
      4,800 SF

      Puyallup Office/Warehouse Flex Space

      4,800 SF office/warehouse suite in Puyallup's Arrow Business Park.
      12815 Canyon Rd E, Puyallup, WA 98373
      View Details
    • $22 SF/Yr
      3,557 SF

      Puyallup Retail/Office Space Available

      3,557 SF retail/office space in prime location for lease.
      12704 Meridian Ave E, Puyallup, WA 98373
      View Details
    • $5,670/Mo
      2,520 SF

      Office Space in Arabella Park

      2,520 SF office space in Arabella Business Park.
      13909 Meridian E, Puyallup, WA 98374
      View Details
    • $5,625/Mo
      1,500 SF

      Retail/Professional Space Near Apartments

      Commercial space in high-traffic area near new apartments.
      2902 Pioneer, Puyallup, WA 98372
      View Details
    • $12,000/Mo
      3,000 SF

      Retail and Professional Shop Space

      Retail and professional shop space available for lease.
      2902 Pioneer, Puyallup, WA 98372
      View Details
    • $1,403/Mo
      765 SF

      Puyallup Office Suite For Rent

      765 sq ft office suite in Puyallup's Evergreen Professional Center.
      1002 39th Ave SW, Puyallup, WA 98373
      View Details

    FAQs

    What type of property is this?
    Warehouse - 27,836 SF warehouse with office, dock doors, and parking.
    Where is this warehouse located?
    The property is located at 938 Valley Avenue NW Puyallup, WA.
    What is the lease rate?
    The lease rate is $24,496.
    What are key features of this property?
    This property features: Excellent I‑5 / SR167 access; 27,836 SF (2,994 SF Office); 3 Dock High Doors
    (425) 246-9280
    We can help!
    Listing Contact
    ARIE SALOMON, SIOR, CCIM
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    938 Valley Avenue NW, Puyallup, WA 98371
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!