South Hill Plaza 3850 S Meridian 27,319 SF 85% Leased Retail Building Puyallup, WA 98373 $11,200,000 ($409.97/SF)

EXECUTIVE SUMMARY

South Hill Plaza (the “Property”) is located at one of the busiest intersections in Pierce County (58,000 cars/day) at the epicenter of the region’s most active retail corridor, along Meridian. Traffic is supported by the adjacent regional South Hill Mall (1.1 million SF). The properties operate symbiotically.
The rent roll has been optimized with several recent lease renewals and new tenant signatures, offering an atypically long weighted average lease term (WALT) of 4.9 years. The tenants are particularly well suited to the market with a focus on medical/dental tenants and an array of daily-need retailers. None of the tenants at South Hill Plaza are retailers of hard/soft goods.
South Hill Plaza has historically operated at full occupancy. However, an interior suite (4,096 SF) recently came vacant late 2024. Today, the Property is 85% occupied. The cash flow does not account for any income from the vacant suite. The ownership has already received multiple LOIs to back-fill the vacant suite, but the seller is allowing the purchaser to dictate the outcome of the LOIs. All rental upside potential is passed to the purchaser.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Building Size
27,319 SF
Building Class
C
Year Built
1989
Price
$11,200,000
Price Per SF
$409.97
Percent Leased
85%
Tenancy
Multiple
Building Height
1 Story
Building FAR
1.12
Lot Size
0.56 AC
Zoning
PUY
Parking
105 Spaces (3.84 Spaces per 1,000 SF Leased)
Frontage
220’ on 112th St

AMENITIES

  • Bus Line
  • Pylon Sign
  • Signage

MAJOR TENANTS Click Here to Access

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Melody Boba
  • Accommodation and Food Services
  • -
  • $9.99
  • Lorem Ipsum
  • Jan 0000
TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Melody Boba Accommodation and Food Services - $9.99 Lorem Ipsum Jan 0000

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • POSITION
  • AVAILABLE
  • Suite 6
  • 4,231 SF
  • Retail
  • -
  • May 2026
Space Size Space Use Position Available
Suite 6 4,231 SF Retail - May 2026

Suite 6

Size
4,231 SF
Space Use
Retail
Position
-
Available
May 2026

NEARBY MAJOR RETAILERS

Starbucks
Umpqua Bank
KeyBank
Chase Bank
Shari's Cafe & Pies
U.S. Bank
Grocery Outlet
Bank of America
Heritage Bank
Ezell's Famous Chicken

PROPERTY TAXES

  • Listing ID: 35605329

  • Date on Market: 4/23/2025

  • Last Updated:

  • Address: 3850 S Meridian, Puyallup, WA 98373