2316 Meridian E Ave Edgewood, WA 98371-1036
The Town Center (TC) zoning district is envisioned as the heart of Edgewood, a well-designed, pedestrian-friendly community center that embodies Edgewood’s distinctive local character and rural roots. Borrowing from traditional town development patterns and forms, the TC is envisioned as the most walkable area of the city, with a mix of multistory and single…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
TC · Edgewood, WAThe Town Center (TC) zoning district is envisioned as the heart of Edgewood, a well-designed, pedestrian-friendly community center that embodies Edgewood’s distinctive local character and rural roots. Borrowing from traditional town development patterns and forms, the TC is envisioned as the most walkable area of the city, with a mix of multistory and single-story buildings framing the street and other public spaces. The TC zone accommodates a range of compatible uses emphasizing a variety of vertical and horizontal mixed-use development, blending pedestrian-oriented retail, multifamily residential, senior housing and civic uses. The TC zone complements local traffic, bicycle, and pedestrian circulation and provides connectivity to public open spaces. 2. The Commercial (C) zoning district accommodates a wide range of commercial development, including large format retail, auto-oriented uses, and regional scale commercial uses. Development standards seek to balance the needs of the pedestrian with those of the automobile and are flexible to accommodate a wide range of uses and forms. This area provides a visual and functional transition to the Town Center and adjacent zones and assures that there is ample area to accommodate potential economic development opportunities. While commercial development is emphasized, this zone also allows mixed-use development that may combine commercial uses with multifamily housing. 3. The Mixed Use Residential (MUR) zoning district accommodates a range of medium density residential housing types to meet consumer preferences, changing household sizes and market demands. A mix of land uses is allowed, including commercial, professional, and other uses that are not incompatible due to noise, truck traffic, odors, or design/scale of structures. This zone provides a visual and functional transition between residential neighborhoods and areas of more intensive development. Within the Meridian Corridor, achieving a high level of connectivity with streets, pedestrian and bicycle routes both within this district and to the adjoining TC district is a major goal. 4. The Business Park (BP) zoning district accommodates a wide range of employment and commercial uses, including professional office, senior housing and apartments, light industrial and retail uses, contributing both revenues and jobs to the local economy. Development standards seek to accommodate a wide range of business, while ensuring an urban design that is compatible with adjacent zones.
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.