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Property profile & analytics
OFF-MARKET
Estimated value
$2,180,000
Office Spaces
11515 Cyn E Rd Puyallup, WA 98373-4359
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0404267
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,750 SF
Lot
1.53 ac (66,473 SF)
Zoning code
CC
APN
6023500030
UPID
US90-0404267
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
-
Tools4ever (Bike/Boat/Book/etc) Store Corporate Office
-
WA Home Buyers.com Real Estate Agency
-
Elephant Team Real Estate Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.60M
Comparable Approach
Comparable
$2.09M
Blend (final)
Blend
$2.18M
Owner & transaction history
Pierce County Housing Authority · 1 yrs held
Pierce County Housing Authority
since 2024
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
CC · Puyallup, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.4M
+32.6%
Retail stores
$2.7M
+6.9%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,735,000
6.5%
$1,600,000
7%
$1,485,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,545,000
Current use
AUTO REPAIR, GARAGE
$3,375,000
Change: +33% · Conversion: Difficult
RETAIL STORES
$2,720,000
Change: +7% · Conversion: Easy
MEDICAL BUILDING
$2,400,000
Change: -6% · Conversion: Easy
WAREHOUSE, STORAGE
$2,215,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$2.18M
Range $1.96M – $2.40M · ±10% · vs last sale $2.65M (Jul 22 2024)
Last sale anchor
$2.65M
Jul 22 2024
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
$249 / 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
$22,373
Tax year 2024
Assessed value
$1,667,000
Assessed 2024
Previous assessed
$1,667,000
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$1,003,900
Assessed improvement
$663,100
Land market value
$1,003,900
Improvement market value
$663,100
Total market value
$1,667,000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
8,750 SF
Lot
1.53 ac (66,473 SF)
Zoning code
CC
APN
6023500030
UPID
US90-0404267
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
CC · Puyallup, WAZoning CC · permitted uses
CC · 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
COMMERCIAL (GENERAL) Current
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$3.4M
RETAIL STORES
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.4M
WAREHOUSE, STORAGE
Est. value
$2.2M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.53 ac
Current owner
From public records · entity-resolved
Pierce County Housing Authority
Entity
Mailing address
PO BOX 538, PUYALLUP, WA 98371-0173
Ownership since
2024
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
Oct 22, 2024
$2,650,000
Pierce County Housing Authority
11515 Canyon Road East LLC
Bargain & Sale Deed
$2,252,500 · First Citizens Bank & Trust Co
Apr 28, 2011
—
11515 Canyon Road East LLC
Korum,jerome M
Quit Claim Deed
related
—
Apr 7, 2011
$1,500,000
Jerome M Korum
Regional Te Svcs Corp
Trustees Deed
related
—
—
—
Sps Real Estate Holdings LLC
—
Deed Of Trust
related
$303,844 · Venture Bank
—
—
Sps Real Estate Holdings LLC
—
Deed Of Trust
related
$1,771,925 · Venture Bank
—
—
Sps Real Estates Holdings LLC
—
Deed Of Trust
related
$1,588,104 · Venture Bank
—
—
Sps Real Estate Holdings LLC
—
Deed Of Trust
related
$1,406,250 · First Community Bank Washingto
—
—
Sps Real Estate Holdings LLC
—
Deed Of Trust
related
$1,588,104 · Venture Bank
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.
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