MLS #2387690 / Listing provided by NWMLS & Urban Commercial Partners, LLC.
$1,150,000
408 N Meridian
Puyallup,
WA
98371
Sq Ft
Per Sq Ft
Year Built
Meridian Castle, located in the heart of Downtown Puyallup, presents a rare investment opportunity in a thriving market. Currently 100% occupied, the property generates $75,524 in NOI, reflecting an in-place 6.3% cap rate, with rents positioned below market expectations. Significant revenue upside exists through rent increases, utility bill-backs, storage leasing, and laundry income, all of which remain untapped by current ownership. With operational stabilization, the asset is projected to achieve a 7.45% proforma cap rate, reinforcing its long-term investment appeal. This property is available for sale individually or as part of a portfolio offering alongside 112 4th Ave SE, Puyallup.
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
- Possible Bedrooms: 0
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: Yes
- Cooling: Yes
Parking
- Parking Total: 5
- Uncovered Parking Spaces: 0
- Open Parking Spaces: 0
Structure
- Roof: Composition
- Exterior Features: Stone, Stucco
- Foundation: Poured Concrete
Lot Details
- Lot Features: Paved, Sidewalk
- Acres: 0.1377
- Foundation: Poured Concrete
Schools
- High School District: Puyallup
Lot Details
- Lot Features: Paved, Sidewalk
- Acres: 0.1377
- Foundation: Poured Concrete
Power
- Energy Source: Electric
- Power Company: Puget Sound Energy
Water, Sewer, and Garbage
- Sewer Company: Pierce County Sewer
- Sewer: Sewer Connected
- Water Company: Puyallup Water Dept.
- Water Source: Public
- Water, Sewer, and Garbage: 11100
Debbie Burk
Broker | REALTOR®
Send Debbie Burk an email