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    823 Meridian E Ave Edgewood, WA 98371-1069

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    823 Meridian E Ave Edgewood, WA 98371-1069

    View on Map
    • Auto shops
    • 1,900 SF
    • 0.70 lot acres
    Off-Market
    Property ID
    US90-1353132
    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
    $720,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Auto shops

    Property Details for 823 Meridian E Ave

    Year built
    2006
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.70 lot acres
    Property size
    1,900 SF
    Zone code
    COMMERCIAL
    Property type
    Auto shops
    APN
    6575000021
    APU
    6575000021

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $666,000
      Market price range: $123k - $673k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $700,000
      Current use
      COMMERCIAL (GENERAL)
      $920,000
      Change: +32% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $810,000
      Change: +16% Conversion: Difficult
      RETAIL STORES
      $585,000
      Change: -16% Conversion: Difficult
      WAREHOUSE, STORAGE
      $565,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Edgewood
    County
    Pierce
    State
    Washington
    Longitude
    -122.293
    Latitude
    47.2494
    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
    $13,568
    $619,100
    $615,800
    $1,234,900
    -
    $619,100
    $615,800
    $1,234,900

    Comparable in this City

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      25,820 SF

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    • Value Estimation
      $545,000
      2,160 SF

      1410 15th NW St

      AUTO REPAIR, GARAGE • 2,160 SF
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    • Value Estimation by Request
      1,440 SF

      3527 100th Ave E Ct

      AUTO REPAIR, GARAGE • 1,440 SF
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    • Value Estimation by Request
      943 SF

      1027 Stewart

      AUTO REPAIR, GARAGE • 943 SF
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    • Value Estimation
      $675,000
      2,256 SF

      606 Meridian

      AUTO REPAIR, GARAGE • 2,256 SF
      606 Meridian, Puyallup, WA 98371-8641
      View Details
    • Value Estimation
      $1,415,000
      3,789 SF

      301 Vly NW Ave

      AUTO REPAIR, GARAGE • 3,789 SF
      301 Vly NW Ave, Puyallup, WA 98371
      View Details

    Similar Nearby for Sale

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      Puyallup Commercial Assemblage For Sale

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    • $1,350,000

      Mixed-Use Property in Central Puyallup

      Leased mixed-use property in Puyallup's Central Business District.
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    • $750,000
      2,450 SF

      Leased Mixed-Use Property in Puyallup

      Fully leased commercial building and remodeled duplex near downtown Puyallup.
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    • Contact for pricing
      Pending

      Entitled Multifamily Development Opportunity

      Shovel-ready mixed-use development with approved permits in Edgewood Town Center.
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    Similar Nearby for Lease

    • Contact for pricing
      505 SF

      Puyallup Retail Space For Rent

      Retail space available at the rear of the center.
      621-807 River Rd, Puyallup, WA 98371
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    • Contact for pricing
      2,706 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
    • $66,480
      4,432 SF

      Puyallup Retail Space For Rent

      Retail space available near Puyallup River Trail.
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    • $12,154 /Mo
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      Restaurant or Retail Space Available

      Existing restaurant building and pad site suitable for various uses.
      1403 Meridian, Puyallup, WA 98371
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    • $631 /Mo
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      Retail Space with Parking

      Retail space available for lease with parking.
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    • Contact for pricing
      2,126 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
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    823 Meridian E Ave
    Edgewood, WA 98371-1069
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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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