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    2121 Meridian E Ave Edgewood, WA 98371-1006

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    2121 Meridian E Ave Edgewood, WA 98371-1006

    View on Map
    • Strip malls
    • 6,060 SF
    • 0.69 lot acres
    Off-Market
    Property ID
    US90-0620068
    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
    $730,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 2121 Meridian E Ave

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.69 lot acres
    Property size
    6,060 SF
    Zone code
    C
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    420106029
    APU
    420106029

    Description

    This exceptional mixed-use commercial property, located at 2121 Meridian Avenue E Unit 7 in Edgewood, WA, offers 1600 square feet of adaptable space perfect for a variety of businesses. The property boasts a spacious foyer, three private offices, and three restrooms, providing ample room for both employees and clients. Its central location on Meridian Avenue offers unparalleled convenience, with easy walking access to Edgewood City Hall, residential areas, and public transportation. This ensures high visibility and accessibility for your business. The layout is flexible and can be easily configured to suit diverse operational needs, whether you require dedicated office space, storage facilities, or a combination thereof. The property's versatility makes it an ideal choice for a range of commercial ventures. Its strategic location within Edgewood provides excellent connectivity to the surrounding community, fostering strong business relationships and maximizing your reach. This is a rare opportunity to secure a well-situated, adaptable commercial space in a thriving community. Contact us today to arrange a viewing and explore the possibilities this property offers for your business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,010,000
      6.5%
      $930,000
      7%
      $865,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Edgewood
    County
    Pierce
    State
    Washington
    Longitude
    -122.293
    Latitude
    47.2376
    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
    $10,376
    $607,400
    $210,000
    $817,400
    -
    $607,400
    $210,000
    $817,400

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      817 Meridian E Ave

      SHOPPING CENTER, STRIP CENTER • 2,400 SF
      817 Meridian E Ave, Edgewood, WA 98371-1069
      View Details
    • Value Estimation
      $1,980,000
      12,120 SF

      505 Meridian E Ave

      SHOPPING CENTER, STRIP CENTER • 12,120 SF
      505 Meridian E Ave, Edgewood, WA 98371-1038
      View Details
    • Value Estimation
      $1,145,000
      10,950 SF

      1002 Meridian

      SHOPPING CENTER, STRIP CENTER • 10,950 SF
      1002 Meridian, Puyallup, WA 98371-4409
      View Details
    • Value Estimation
      $6,650,000
      22,360 SF

      1200 4th NW St

      SHOPPING CENTER, STRIP CENTER • 22,360 SF
      1200 4th NW St, Puyallup, WA 98371-8651
      View Details
    • Value Estimation
      $1,630,000
      57,125 SF

      1100 Meridian

      WHOLESALE OUTLET, DISCOUNT STORE • 57,125 SF
      1100 Meridian, Puyallup, WA 98371-4403
      View Details
    • Value Estimation by Request
      432 SF

      308 Stewart

      WHOLESALE OUTLET, DISCOUNT STORE • 432 SF
      308 Stewart, Puyallup, WA 98371-4368
      View Details

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    Edgewood, WA 98371-1006
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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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