Back to Search
Property profile & analytics
FOR LEASE
Strip malls
10023 128Th St E Puyallup, WA 98373
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1704599
No photos on file
For Lease
$3,208/Mo
10023 128Th St E, Puyallup, WA 98373
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,500 SF
Lot
0.95 ac (41,200 SF)
Zoning code
UV
APN
4320003080
UPID
US90-1704599
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Sunrise Wealth Management Financial Advisor
-
Fadek's Clothing & Fashion Store
-
Destiny Opioid Rehab Puyallup, WA Health Counselor Rehabilitation Center
-
Mcmillan Family Electricians Electrical Service General Contractor
-
First Continental Mortgage Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.98M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.77M
Blend (final)
Blend
$3.77M
Owner & transaction history
J&j Nw Holdings LLC · 4 yrs held
J&j Nw Holdings LLC
since 2022
Last sale
$3.5M
7 recorded transactions
Zoning & alternative use
UV · Puyallup, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$5.6M
+55.8%
Restaurant
$3.9M
+8.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Puyallup submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Puyallup submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,065,000
ML approach
$3,975,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$3,625,000
Current use
INDUSTRIAL (GENERAL)
$5,640,000
Change: +56% · Conversion: Difficult
RESTAURANT
$3,915,000
Change: +8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,280,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$3.77M
Range $3.39M – $4.15M · ±10% · vs last sale $3.52M (May 13 2022)
Last sale anchor
$3.52M
May 13 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$444 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$36,299
Tax year 2024
Assessed value
$3,219,700
Assessed 2024
Previous assessed
$3,219,700
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$1,568,700
Assessed improvement
$1,651,000
Land market value
$1,568,700
Improvement market value
$1,651,000
Total market value
$3,219,700
Applied tax rate
195.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
1
Total area
8,500 SF
Lot
0.95 ac (41,200 SF)
Zoning code
UV
APN
4320003080
UPID
US90-1704599
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
UV · Puyallup, WAZoning UV · permitted uses
UV · Puyallup, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.6M
INDUSTRIAL (GENERAL)
Est. value
$5.6M
RESTAURANT
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$3.3M
NEIGHBORHOOD: SHOPPING CENTER Current
INDUSTRIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
J&j Nw Holdings LLC
Entity
Mailing address
12520 NE 23RD PL, BELLEVUE, WA 98005-1542
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 13, 2022
$3,520,000
J&j Nw Holdings LLC
A Morris Family LP
Warranty Deed
$1,525,000 · Columbia State Bank
May 5, 2022
—
Petra M West
Morris Family Limited Partnership
Quit Claim Deed
related
—
Apr 22, 2022
—
Marc Morris
A Morris Family Limited Partnership
Intrafamily Transfer
related
—
Jun 21, 2018
—
A Morris Family LP
—
Deed
related
$250,000 · Us Bank NA
Dec 17, 2004
$1,800,000
A Morris Family
Hess,kathleen M
Warranty Deed
$1,000,000 · Central Pacific Bank
Sep 5, 1997
—
Carl E Millsap
Russell,neal H & Sharon K
Quit Claim Deed
related
—
—
—
Herbert B Hess
—
Deed Of Trust
related
$177,701 · Bank Of Sumner
—
—
A Morris Family
—
Deed Of Trust
related
$1,010,000 · Key Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
