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

    1403 S Meridian Puyallup, WA 98371

    • Turn key restaurants
    • 2,760 SF
    • 0.72 lot acres
    For Lease
    View listing
    $4 SF/Yr
    Last Sale
    Jul 02, 2021
    $1,600,000
    Value Estimations
    $1,910,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1613784
    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

    • Turn key restaurants

    Property Details for 1403 S Meridian

    Year built
    1976
    Construction
    WOOD FRAME
    Lot size
    0.72 lot acres
    Property size
    2,760 SF
    Zone code
    CG
    Property type
    Turn key restaurants
    APN
    7730000281
    APU
    7730000281

    Description

    This exceptional commercial property at 1403 S Meridian in Puyallup, WA, 98371 offers a unique opportunity for businesses seeking versatile space. The property encompasses a total of 3,200 square feet of building space, situated on a substantial 49,000 square foot lot with prominent Meridian frontage. The building is currently configured to accommodate multiple tenants, making it ideal for a variety of uses. The property type is classified as Retail, Office, and Land, with subtypes including Commercial, Medical Office, and Traditional Office. This flexibility allows for diverse business models to thrive within this location. The property is available for lease as a whole or potentially as individual spaces, providing options for businesses of varying sizes. The expansive land area presents additional development potential, depending on zoning regulations and future plans. This prime Puyallup location offers excellent visibility and accessibility, making it an attractive option for businesses seeking a strong presence in a thriving community. Interested parties should inquire about lease terms and conditions. The property's versatility and location make it a compelling investment opportunity. A ground lease option may also be available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,065,000
      ML approach
      $1,980,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,435,000
      Market price range: $558k - $2.08M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,270,000
      Current use
      COMMERCIAL (GENERAL)
      $1,340,000
      Change: +5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Puyallup
    County
    Pierce
    State
    Washington
    Longitude
    -122.294
    Latitude
    47.1785
    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
    $11,876
    $849,200
    $297,300
    $1,146,500
    -
    $849,200
    $297,300
    $1,146,500

    Comparable in this City

    • Value Estimation
      $750,000
      2,200 SF

      506 Meridian

      RESTAURANT • 2,200 SF
      506 Meridian, Puyallup, WA 98371-8639
      View Details
    • Value Estimation
      $355,000
      1,150 SF

      402 Meridian

      RESTAURANT • 1,150 SF
      402 Meridian, Puyallup, WA 98371-8636
      View Details
    • Value Estimation
      $410,000
      2,880 SF

      5515 Pioneer E Way

      RESTAURANT • 2,880 SF
      5515 Pioneer E Way, Puyallup, WA 98371-4968
      View Details
    • Value Estimation
      $320,000
      1,395 SF

      210 Pioneer Ste, Unit 101

      RESTAURANT • 1,395 SF
      210 Pioneer Ste, Puyallup, WA 98371-5304
      View Details
    • Value Estimation
      $420,000
      1,505 SF

      109 Meridian

      RESTAURANT • 1,505 SF
      109 Meridian, Puyallup, WA 98371-5917
      View Details
    • Value Estimation
      $555,000
      2,428 SF

      508 Garfield S St

      RESTAURANT • 2,428 SF
      508 Garfield S St, Puyallup, WA 98371
      View Details

    Similar Nearby for Sale

    • $1,350,000

      Mixed-Use Property in Central Puyallup

      Leased mixed-use property in Puyallup's Central Business District.
      206 Meridian St, Puyallup, WA 98371
      View Details
    • $2,950,000

      Puyallup Showroom and Office Space

      Showroom and office space on 0.85 acres for sale.
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      Puyallup Retail Property For Sale

      9,000 sq ft retail building on 45,700 sq ft land.
      9512 Canyon Rd E, Puyallup, WA 98371
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    • $2,500,000
      6,003 SF

      Turn-Key Commercial Building in Puyallup

      6,003 SF commercial building with mezzanine, high visibility, ample parking.
      427 E Main, Puyallup, WA 98371
      View Details
    • $895,000
      6,420 SF

      Valley Ave Commercial Opportunity

      Commercial property with living space, workshop, and high-traffic exposure.
      1109 Valley Ave NW Puyallup, Puyallup, WA 98371
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    • Contact for pricing

      Approved Townhome Development Site

      20-lot townhome development site with approved drawings and engineering documents.
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    Similar Nearby for Lease

    • $28 SF/Yr
      2,772 SF

      Restaurant and Bank Pads Available

      Restaurant and bank pads with drive-thru available for rent.
      16904-16912 Meridian Ave E, Puyallup, WA 98371
      View Details
    • $20 SF/Yr
      1,606 SF

      South Hill Puyallup Retail/Office Space

      Retail/office space in central South Hill Puyallup market.
      12020 Meridian Ave E, Puyallup, WA 98371
      View Details
    • $22 SF/Yr
      4,500 SF

      Retail Building on River Road

      Freestanding retail building in Puyallup's major retail hub.
      819 River Rd, Puyallup, WA 98371
      View Details
    • $15 SF/Yr
      4,002 SF

      Puyallup Retail Space For Rent

      Retail space available at the rear of the center.
      621-807 River Rd, Puyallup, WA 98371
      View Details
    • $28 SF/Yr
      4,524 SF

      Freestanding Retail Pad Building

      Retail space available for rent on Meridian Avenue.
      13101 Meridian Ave E, Puyallup, WA 98371
      View Details
    • $0.88 SF/Yr
      37,996 SF

      Puyallup Warehouse Space Available Now

      37,996 SF warehouse space with office near SR-167.
      914 Valley Ave Northwest, Puyallup, WA 98371
      View Details
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    1403 S Meridian
    Puyallup, WA 98371
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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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