204 S Meridian, Puyallup, WA 98371
- $1,300,000
Listing courtesy of COMPASS. Selling Office: Windermere RE West Campus Inc.
- Sold Price
- $1,300,000
- List Price
- $1,350,000
- Status
- SOLD
- MLS#
- 2330081
- Closing Date
- Sep 30, 2025
- Days on Market
- 159
- Annual Tax Ammount
- 9778
Property Description
Secure this 100% leased, turnkey investment in the heart of Puyallup’s Central Business District. Built in 1920 and meticulously updated, this 6,066 sq. ft. mixed-use property blends historic charm with modern upgrades for stability and long-term value. The street-level retail includes two fully leased units, while the upper level features two updated 2BR/1BA apartments with in-unit laundry, stylish interiors, and Mt. Rainier views. Situated on a high-traffic corridor with ample parking and a 95 Walk Score, this asset offers strong tenant demand. With leases structured for future utility reimbursement potential, this is a rare chance to own a thriving piece of Puyallup’s history.
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Additional Information
- Community
- Puyallup Valley
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 1920
- Tax Year
- 2024
- Potential Terms
- Cash Out, Conventional
- Driving Directions
- From WA 167 turn on to Meridian Ave, Building is second from the corner of Meridian and Meeker
- Electric Expenses
- 2348
- Other Expenses
- 9226
- Energy Source
- Electric
- Net Operating Income
- $76,275
- Gross Adjusted Income
- $108,472
- Gross Scheduled Income
- $113,601
- Water/Sewer/Garbage Expenses
- $2,348
- Cap Rate
- 5.65
- Vacancy Rate
- 5
- Total Expenses
- $32,196
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