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Property profile & analytics
OFF-MARKET Estimated value $720,000
Auto shops

823 Meridian E Ave Edgewood, WA 98371-1069

1,900 SF 0.7 ac lot Built 2006
Entity Owned 19-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US90-1353132
Property summary
AI-generated overview

This exceptional commercial land parcel, located at 823 Meridian Ave E in Edgewood, WA 98371, presents a unique development opportunity. The property, zoned Commercial (C) and identified by APN 6575000021, offers approximately 3,000 square feet of buildable land. Situated on a highly visible section of Meridian Ave E, a major north-south thoroughfare connecting Interstate 5 to Puyallup, this location benefits from significant traffic volume and convenient access. The site shares proximity with Jiffy Lube, enhancing visibility and potential synergy. This single-tenant pad site is ideal for a variety of commercial uses, catering to the growing population of Edgewood and the surrounding area. The landowner is offering flexible options, including ground lease or build-to-suit arrangements, providing developers with considerable adaptability. This presents a compelling investment opportunity in a thriving commercial corridor. The property's strategic location and flexible development options make it an attractive prospect for businesses seeking to establish a presence in this dynamic market. Detailed information regarding zoning regulations and development possibilities is readily available.

Property profile
Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 2006
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 1,900 SF
Lot 0.7 ac (30,640 SF)
Zoning code COMMERCIAL
APN 6575000021
UPID US90-1353132
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$666k
Blend (final) Blend
$720k
Owner & transaction history
Adf I LLC · 19 yrs held
Adf I LLC
since 2006
6 recorded transactions
2016
Price N/A
2006
Price N/A
2005
Price N/A
2000
Price N/A
2000
$3,500
1999
$450,000
Zoning & alternative use
COMMERCIAL · Edgewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general) $920,000 +32.0%
Neighborhood: shopping center $810,000 +16.0%
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