Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    428-502 39Th Ave Puyallup, WA 98373
    Back to Search
    Property profile & analytics

    428-502 39Th Ave Puyallup, WA 98373

    View on Map
    • Land
    • 290,931 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 428-502 39Th Ave

    Property size
    290,931 SF
    Property type
    Land

    Description

    This exceptional 290,931 square foot development site presents a unique investment opportunity in Puyallup, Washington. Located at 428-502 39th Ave SW, this property boasts a highly desirable location directly across from the entrance to South Hill Mall, ensuring significant visibility and accessibility. The site features approximately 300 feet of frontage along 39th Ave SW, providing ample space for development. The property is comprised of two parcels (APN: 0419095005 and 0419091068) and is zoned UCX (Urban Center Mixed-use), allowing for a variety of development options, including retail and multifamily uses. While the total commercially zoned land is estimated at up to approximately 75,000 square feet (buyer to verify), the overall site size offers considerable potential. Please note that there are existing residential tenants on each parcel. This prime location, combined with its flexible zoning and high visibility, makes this an exceptional opportunity for developers seeking a high-impact project in a thriving community. The asking price for this remarkable property is $2,975,000. This is a rare chance to acquire a significant piece of land in a strategic location with immense potential for future growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Puyallup
    County
    Pierce
    State
    Washington
    Longitude
    -122.298
    Latitude
    47.1541

    Comparable in this City

    • Value Estimation by Request
      1.19 Acres

      14107 Meridian Ave

      Land • 1.19 Acres
      14107 Meridian Ave, Puyallup, WA 98373
      View Details
    • Value Estimation by Request
      2.28 Acres

      4101 Meridian

      Land • 2.28 Acres
      4101 Meridian, Puyallup, WA 98373
      View Details
    • Value Estimation by Request
      4.64 Acres

      13208 Canyon Rd

      Land • 4.64 Acres
      13208 Canyon Rd, Puyallup, WA 98373
      View Details
    • Value Estimation by Request
      4.64 Acres

      13208 Canyon Rd

      Land • 4.64 Acres
      13208 Canyon Rd, Puyallup, WA 98373
      View Details
    • Value Estimation by Request
      780 SF

      3701 14th St SW Pl

      COMMERCIAL (GENERAL) • 780 SF
      3701 14th St SW Pl, Puyallup, WA 98373-6007
      View Details
    • Value Estimation by Request
      77,828 SF

      132Nd St

      Retail properties & Spaces • 77,828 SF
      0 132Nd St, South Hill, WA 98373
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,000 SF

      Puyallup Office Space For Sale

      2,000 SqFt office space available in Puyallup, Washington.
      2802 S Meridian, Puyallup, WA 98373
      View Details
    • Contact for pricing

      Land Near Freeway and Shopping

      Land parcel near freeway and shopping centers, convenient location.
      3312 13Th St SW, Puyallup, WA 98373
      View Details
    • Contact for pricing

      Vacant Land Prime Location

      Vacant land ideal for development, investment, or building projects.
      3320 13Th St SW, Puyallup, WA 98373
      View Details
    • Contact for pricing

      Land For Sale Puyallup

      Land available for purchase in Puyallup, Washington.
      13415 Canyon Rd E, Puyallup, WA 98373
      View Details
    • Contact for pricing

      Puyallup Land For Sale

      Land available for purchase in Puyallup, Washington.
      13323 Canyon Rd E, Puyallup, WA 98373
      View Details
    • Contact for pricing

      Land For Sale Puyallup

      Land available for sale in Puyallup, Washington.
      12324 Canyon Rd E, Puyallup, WA 98373
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      79,410 SF

      Puyallup Land for Lease

      Land available for lease in Puyallup, Washington.
      13922 Canyon Rd E, Puyallup, WA 98373
      View Details
    • Contact for pricing
      42,689 SF

      Puyallup Land Parcel For Rent

      Land parcel available for rent in Puyallup, Washington.
      38th 38Th Ave E, Puyallup, WA 98373
      View Details
    • Contact for pricing
      43,146 SF

      Puyallup Land with Shop Space

      Land with remodeled office, shop space, and tent enclosure.
      13018 Canyon Rd E, Puyallup, WA 98373
      View Details
    • Contact for pricing
      2,599 SF

      Puyallup Commercial Land with Improvements

      Gravelled and fenced land with office and shop space.
      10902 59Th Ave E, Puyallup, WA 98373
      View Details
    • $22 SF/Yr
      1,205 SF

      Puyallup Office or Retail Space

      Versatile commercial space in Puyallup, ideal for office or retail.
      3806 9Th St SW, Puyallup, WA 98373
      View Details
    • Contact for pricing
      1,250 SF

      Puyallup Office Space Available

      Office space for rent in Puyallup, Washington.
      11803 101St Avenue Ct E, Puyallup, WA 98373
      View Details
    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.
    428-502 39Th Ave
    Puyallup, WA 98373
    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
    428-502 39Th Ave, Puyallup, WA, 98373
    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!