408 N Meridian

Puyallup, WA 98371

  • Bed

  • Bath

  • 5808 SqFt

  • 4 DOM

  • Built: 1900

  • Status: Active

$1,150,000

X

408 N Meridian

Puyallup 98371

$1150000

  • Bed

  • Bath

  • 5808 SqFt

  • 4 DOM

  • Built: 1900

  • Status: Active

Krishna Regupathy

Principal Broker

(503) 893-8874

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.

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