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    Highest-Producing CVS Pharmacy in Washington Title is generated by Realmo AI

    9502 176TH ST E, South Hill, WA 98375

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    Top-performing CVS Pharmacy with high sales volume and strategic location.

    Type:Retail
    Property size:
    17,272 SF
    Price / SF:
    $515/SF
    Added:
    May 20, 2026
    Days on Market:
    8
    Last Refresh:
    May 21 at 7:30 am

    Property Features for 9502 176TH ST E

    General Information

    Standard status
    Active
    Size
    17,272 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2006

    We can help!

    Listing Contact
    Don MacLellan

    Listing agent Don MacLellan License #CA #00897784

    Listing office Faris Lee Investments

    Listing date May 20, 2026

    Source Crexi

    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 Faris Lee Investments

    HighLights

    • Highest‑producing CVS pharmacy in Washington, indicating strong sales.
    • Investment‑grade credit tenant (CVS, S&P: BBB) provides financial stability.
    • Dominant market position due to the closure of five regional Rite Aid locations.
    • Strategic location at a signalized hard corner with high traffic volume (24,000 VPD).
    • Affluent and dense surrounding demographics with over 175,000 residents.
    • NNN lease structure offering ease of management for a passive investor.

    Overview

    This property features a CVS Pharmacy situated at a signalized hard corner. The location is the highest-producing CVS pharmacy in Washington. The site has benefited from a recent influx of scripts following the closure of five regional Rite Aid locations. The high-volume store is supported by two full-time pharmacists and seven technicians, with a major remodel scheduled for August to include recently installed coolers. The property is strategically located at the signalized hard corner of 176th St and Gem Heights Rd, which sees over 24,000 vehicles per day. It sits as a high-profile outparcel to a top-performing WinCo Foods, which ranks in the top 10% of the chain with annual sales exceeding $90 million. The surrounding area features affluent and dense infill demographics, with over 175,000 residents and an average household income surpassing $140,000 within a 5-mile radius. The property offers ease of management, as WinCo oversees the CAM management. The property size is 17,272 square feet.
    Location Intelligence

    Current Use by Public Records

    Drug stores

    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.

    Similar Places Nearby

    • Jay Hansen, PharmD — 9502 176th St E, Puyallup, WA 98375
    • Hee Do C. Park, RPh — 9502 176th St E, Puyallup, WA 98375
    • Rite Aid Pharmacy — 9502 176th St E, Puyallup, WA 98375
    • Staci Mack — 9502 176th St E, Puyallup, WA 983759300
    • Fred Meyer Pharmacy — 17404 Meridian E, Puyallup, WA 98375

    Location Insight

    • Map
    • Local Demand
    City
    South Hill
    County
    Pierce
    State
    Washington
    Longitude
    -122.3035385
    Latitude
    47.0958128

    FAQs

    What type of property is this?
    Drug store - Top-performing CVS Pharmacy with high sales volume and strategic location.
    Where is this drug store located?
    The property is located at 9502 176TH ST E South Hill, WA.
    What is the asking price?
    The asking price for this property is $8,898,000.
    What are key features of this property?
    This property features: Highest‑producing CVS pharmacy in Washington, indicating strong sales.; Investment‑grade credit tenant (CVS, S&P: BBB) provides financial stability.; Dominant market position due to the closure of five regional Rite Aid locations.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Don MacLellan
    Real Estate License ID: CA #00897784
    Learn More
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    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.

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