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    4301 Meridian Puyallup, WA 98373

    Sponsored
    For Lease
    $22 SF/Yr

    Puyallup, WA: Retail & Office Opportunity

    Lot size:
    56,061 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    407
    Meridian Place, located at 4301 S Meridian in Puyallup, WA 98373, offers a unique investment opportunity. This two-building complex, totaling 56,061 square feet, sits on a 171,626 square foot lot at the hard corner of 43rd Ave SE and S. Meridian. Built in 1979 and renovated in 2004, the property features a single-story design and offers multiple tenancy options. The largest contiguous space available is 8,800 square feet, with a smaller space of 2,580 square feet also available. The property boasts a prime location in the South Hill submarket, less than half a mile from South Hill Mall, ensuring high visibility and foot traffic. Strong existing tenants include Sola Salons, Iron Chef Japanese Hibachi, The Rock Pizza, Super Supplements, and Muscle Makers Grill, creating a vibrant and successful retail environment. The property's location near the Mel Forum Family YMCA further enhances its appeal. Property taxes are $5.09 per square foot. The APN is 0419102074. This is the last remaining space in this well-established center. The property is classified as Retail, Restaurant, and Office, with a Creative Office subtype.

    Property Features for 4301 Meridian

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    56,061 SF
    Total Rate
    102778.5

    Building Details

    Year Built/Renovated
    1979/2004
    Buildings
    2
    Stories
    1

    Unit(s) available at that property

    Space
    Retail 2580
    Size
    2,580 SF
    Rate per SF
    $22

    Learn more

    Property Insight Report

    HighLights

    • Average household income exceeding $76,000.
    • High visibility on S. Meridian with over 42,000 vehicles per day.
    • Anchored by national retailers.
    • Situated in a rapidly expanding trade area.
    • Dense population of 80,000+ within a 3‑mile radius.
    Property Profile Location Intelligence

    Current Use by Public Records

    Northwest Fitness Company Fitness Center Liberation Hair By ... Hair Salon Copal Aesthetics Cosmetics Industry Hairy odd mother Beauty Salon Dulce Lash Lounge ... Eyelash Salon

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Puyallup
    County
    Pierce
    State
    Washington
    Longitude
    -122.2915142
    Latitude
    47.1494214

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    FAQs

    What type of property is this?
    Restaurant - Puyallup, WA: Retail & Office Opportunity
    Where is this restaurant located?
    The property is located at 4301 Meridian Puyallup, WA.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: Average household income exceeding $76,000.; High visibility on S. Meridian with over 42,000 vehicles per day.; Anchored by national retailers.
    Request Owner's contact information
    4301 Meridian Puyallup, WA 98373
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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.

    More about this property
    4301 Meridian Puyallup, WA 98373
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