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    15215 Canyon Rd E Puyallup, WA 98375
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    15215 Canyon Rd E Puyallup, WA 98375

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    • Commercial land
    • 2.27 lot acres
    For Sale
    $2,250,000
    View Listing →
    Prime Commercial Land on Canyon For Sale
    $2,250,000
    2.27 Acres

    Prime Commercial Land on Canyon

    2.27 acres ready for development on Canyon Road.

    15215 Canyon Rd E, Puyallup, WA 98375
    View Listing
    Property ID
    US90-2879646
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 15215 Canyon Rd E

    Lot size
    2.27 lot acres
    Property type
    Commercial land
    APN
    4015416831
    APU
    4015416831

    Description

    This exceptional 2.3-acre commercial/industrial land parcel presents a unique investment opportunity in Puyallup, Washington. Located at 15215 Canyon Rd E, this property boasts a highly desirable location on a fully-lighted intersection corner, offering unparalleled visibility and accessibility. Less than a mile from the new Amazon Distribution Center, this site benefits from its proximity to major transportation arteries, including Highway 512, providing easy access to Fredrickson's industrial hub and Meridian. The property is completely developed and ready for immediate construction; all utilities are on-site, and an underground stormwater retention system is already installed. Zoned ECOR, this versatile parcel allows for a wide range of commercial and industrial uses, including truck parking, contractor yards, warehousing and distribution, industrial service and repair facilities, restaurants, gas stations and convenience stores, professional offices, drive-through businesses, car washes, and hotels. With its strategic location, complete infrastructure, and flexible zoning, this property represents an exceptional opportunity for developers and businesses seeking a prime location in a thriving industrial corridor. The Pierce County Assessor's Parcel Number (APN) is 4015416831. The asking price is $2,250,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Puyallup
    County
    Pierce
    State
    Washington
    Longitude
    -122.357
    Latitude
    47.1176
    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
    $8,043
    $762,600
    $0.00
    $762,600
    -
    $762,600
    $0.00
    $762,600

    Comparable in this City

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      5514 152nd E St

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    • Value Estimation
      $545,000
      10.67 Acres

      17020 Meridian E

      VACANT COMMERCIAL LAND • 10.67 Acres
      17020 Meridian E, Puyallup, WA 98375-6225
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    • Value Estimation by Request
      1.33 Acres

      19103 Meridian E5-n

      VACANT COMMERCIAL LAND • 540 SF
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      0.40 Acres

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      VACANT COMMERCIAL LAND • 1,428 SF
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      0.49 Acres

      17802 Cyn E Rd

      VACANT COMMERCIAL LAND • 0.49 Acres
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    Similar Nearby for Sale

    • $2,600,000

      Permit-Ready Land on Canyon Road

      2.28 acres, fully entitled, permit-ready land at signalized intersection.
      5425 144Th St E, Puyallup, WA 98375
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    • Contact for pricing

      Prime Commercial Land on Canyon

      2.27 acres ready for development on Canyon Road.
      15215 Canyon Rd E, Puyallup, WA 98375
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    • $699,000
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      Retail Pad Ready For Development

      Improved retail pad with approved plans for a 4,244 SF building.
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    • $750,000

      Corner Retail Location For Sale

      Prime corner location across from Safeway, near Canyon Road.
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      Prime Commercial Land on Canyon

      2.27 acres ready for development on Canyon Road.
      15215 Canyon Rd E, Puyallup, WA 98375
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    • $500,000
      1,245,772,416 SF

      Canyon Road Double Lots

      Double lots on Canyon Rd with high traffic volume.
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    Similar Nearby for Lease

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      Puyallup Yard Space For Lease

      Fenced and secured yard space in a convenient location.
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    • $4,000 /Mo

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      Leasable yard space in a convenient Puyallup location.
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      Puyallup Land for Lease

      Land available near 176th St E & Canyon Rd.
      6003 176Th St E, Puyallup, WA 98375
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    • $4,000 /Mo
      20,000 SF

      Secured Yard Space For Rent

      20,000 SF fenced yard space available for lease.
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    • $4,500 /Mo
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      Puyallup Freestanding NNN Property

      Freestanding 3,998 SF NNN property on 1.67 acres.
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    • Contact for pricing
      78,408 SF

      Puyallup Land with Shop

      Land with small house and 1,200 SF shop.
      5516 144Th St, Puyallup, WA 98375
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    Puyallup, WA 98375
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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.

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