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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    115 Meeker Puyallup, WA 98372-3244

    • Retail space
    • 2,288 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $395,000
    Show details
    Cap Rate Potential
    5%
    Retail space
    Location Intelligence
    Property ID
    US90-0769124
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Pinatas El Rey / Party Store
    • Trove Provisions / Spice Store / Gourmet Grocery Store
    • Wash The Dog / Dog Day Care Center / Pet Groomer

    Property Details for 115 Meeker

    Year built
    1927
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.06 lot acres
    Property size
    2,288 SF
    Zone code
    CBD-CORE
    Property type
    Retail space
    APN
    7060000100
    APU
    7060000100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $330,000
      6.5%
      $305,000
      7%
      $285,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $473,000
      Market price range: $445k - $934k
      AI Estimate
      $320,000
      Market price range: $241k - $689k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $630,000
      WAREHOUSE, STORAGE
      $580,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Puyallup
    County
    Pierce
    State
    Washington
    Longitude
    -122.293
    Latitude
    47.1911
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $4,217
    $129,700
    $195,000
    $324,700
    -
    $129,700
    $195,000
    $324,700

    Comparable in this City

    • Value Estimation
      $870,000
      5,668 SF

      1430 Main

      RETAIL STORES (PERSONAL SERVICES) • 5,668 SF
      1430 Main, Puyallup, WA 98372-3139
      View Details
    • Value Estimation
      $540,000
      1,440 SF

      11001 24th E St

      RETAIL STORES (PERSONAL SERVICES) • 1,440 SF
      11001 24th E St, Puyallup, WA 98372
      View Details
    • Value Estimation
      $625,000
      5,802 SF

      217 Pioneer

      RETAIL STORES (PERSONAL SERVICES) • 5,802 SF
      217 Pioneer, Puyallup, WA 98372-3263
      View Details
    • Value Estimation
      $510,000
      2,388 SF

      2615 Main

      RETAIL STORES (PERSONAL SERVICES) • 2,388 SF
      2615 Main, Puyallup, WA 98372-3163
      View Details
    • Value Estimation
      $1,110,000
      10,000 SF

      1416 Main, Unit 211

      RETAIL STORES (PERSONAL SERVICES) • 10,000 SF
      1416 Main, Puyallup, WA 98372-3170
      View Details
    • Value Estimation
      $515,000
      10,820 SF

      115 2nd SE St

      RETAIL STORES (PERSONAL SERVICES) • 10,820 SF
      115 2nd SE St, Puyallup, WA 98372-3217
      View Details

    Similar Nearby for Sale

    • $675,000
      941 SF

      Puyallup Commercial Property For Sale

      High-traffic location with drive-thru and indoor seating, delivered vacant.
      11016 Valley Ave E, Puyallup, WA 98372
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    • $799,950

      Versatile Property with Business Potential

      Property suitable for bed and breakfast, restaurant, or retail.
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    • $799,995

      Edgewood Mixed-Use Property with Shop

      Updated home and large shop in prime Edgewood location.
      3618 Chrisella Rd, Edgewood, WA 98372
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    • Contact for pricing
      7,675 SF

      Puyallup Automotive Repair & Storage

      Former automotive shop with storage, near downtown and Highway 512.
      629 East Pioneer, Puyallup, WA 98372
      View Details
    • $799,000

      Spacious Home on Large Lot

      Updated 4 bed, 3 bath home on private 0.54-acre lot.
      1812 5Th Street Ct, Puyallup, WA 98372
      View Details
    • Contact for pricing
      18 SF

      Development Land Near SR-167 Extension

      18.09 acres of development land with potential for industrial re-zone.
      5108 Chrisella Rd E | Edgewood, Puyallup, WA 98372
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      43,066 SF

      Downtown Puyallup Office Suites Available

      Office and retail suites available in downtown Puyallup.
      615 East Pioneer, Puyallup, WA 98372
      View Details
    • $20 SF/Yr
      839 SF

      Retail Space with Private Offices

      Retail space featuring private offices, restroom, and convenient access.
      2110 E Main, Puyallup, WA 98372
      View Details
    • $48 SF/Yr
      1,500 SF

      Retail Space Near Safeway Center

      Retail space with excellent exposure near Safeway Anchored Center.
      2902 E Pioneer, Puyallup, WA 98372
      View Details
    • Contact for pricing
      211,153 SF

      Puyallup Industrial Building For Lease

      211,153 SF industrial building with rail access in Puyallup.
      14021 E Pioneer Way, Puyallup, WA 98372
      View Details
    • $1.23 SF/Yr
      25,777 SF

      Industrial Property with Yard Storage

      25,777 SF industrial space with yard and office.
      3480 W Valley Hwy E, Edgewood, WA 98372
      View Details
    • $20 SF/Yr
      46,775 SF

      Puyallup Executive Office Space

      Class A office building, multiple suites available
      1011 Main Ave, Puyallup, WA 98372
      View Details
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    115 Meeker
    Puyallup, WA 98372-3244
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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
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