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

    1502 Meridian Puyallup, WA 98371-7528

    • Grocery and convenience stores
    • 2,763 SF
    • 0.90 lot acres
    OFF-MARKET
    Value Estimations
    $690,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0062989
    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

    • Krispy Krunchy Chicken / Restaurant
    • Chevron / Gas Station
    • LibertyX Bitcoin ATM / Atm
    • EM ExtraMile / Grocery & Convenience Store

    Property Details for 1502 Meridian

    Year built
    1992
    Construction
    WOOD FRAME
    Lot size
    0.90 lot acres
    Property size
    2,763 SF
    Zone code
    CG
    Property type
    Grocery and convenience stores
    APN
    420338035
    APU
    420338035

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $550,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $832,000
      Market price range: $443k - $1.64M

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

    Location Insight

    • Map
    • Local Demand
    City
    Puyallup
    County
    Pierce
    State
    Washington
    Longitude
    -122.294
    Latitude
    47.1771
    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
    $21,662
    $1,376,000
    $782,800
    $2,158,800
    -
    $1,376,000
    $782,800
    $2,158,800

    Comparable in this City

    • Value Estimation by Request
      1,376 SF

      347 Meridian

      CONVENIENCE STORE (W/FUEL PUMP) • 1,376 SF
      347 Meridian, Puyallup, WA 98371-5913
      View Details
    • Value Estimation
      $2,595,000
      2,400 SF

      8401 Cyn E Rd

      CONVENIENCE STORE (W/FUEL PUMP) • 2,400 SF
      8401 Cyn E Rd, Puyallup, WA 98371-6319
      View Details
    • Value Estimation
      $525,000
      3,496 SF

      516 Meridian

      CONVENIENCE STORE (W/FUEL PUMP) • 3,496 SF
      516 Meridian, Puyallup, WA 98371-5910
      View Details
    • Value Estimation by Request
      2,329 SF

      2325 Meridian E Ave

      CONVENIENCE STORE (W/FUEL PUMP) • 2,329 SF
      2325 Meridian E Ave, Edgewood, WA 98371-1012
      View Details
    • Value Estimation
      $605,000
      2,720 SF

      1720 Riv Rd

      CONVENIENCE STORE (W/FUEL PUMP) • 2,720 SF
      1720 Riv Rd, Puyallup, WA 98371-3879
      View Details
    • Value Estimation by Request
      1,200 SF

      3420 Meridian E Ave

      CONVENIENCE STORE (W/FUEL PUMP) • 1,200 SF
      3420 Meridian E Ave, Edgewood, WA 98371-2612
      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.
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      Puyallup Showroom and Office Space

      Showroom and office space on 0.85 acres for sale.
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      Turn-Key Commercial Building in Puyallup

      6,003 SF commercial building with mezzanine, high visibility, ample parking.
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    • $3,000,000
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      Puyallup Retail Property For Sale

      9,000 sq ft retail building on 45,700 sq ft land.
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    • $895,000
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      Valley Ave Commercial Opportunity

      Commercial property with living space, workshop, and high-traffic exposure.
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    • Contact for pricing

      Approved Townhome Development Site

      20-lot townhome development site with approved drawings and engineering documents.
      18Th St NW, Puyallup, WA 98371
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    Similar Nearby for Lease

    • $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
    • $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
      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
    • $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
    • Contact for pricing
      1,441 SF

      Retail Space Near Fred Meyer

      Retail space anchored by Fred Meyer with high traffic counts.
      17404 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

    Property Visit Statistics

    • Visits by month
      0
    • Visitors by month
      414
    • Avg Time on site
      7 min
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    1502 Meridian
    Puyallup, WA 98371-7528
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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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