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Property profile & analytics
OFF-MARKET
Estimated value
$3,790,000
Medical Office Space
118 Washington N Ave Puyallup, WA 98372
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1109264
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2011
Construction
WOOD FRAME
Total area
5,056 SF
Lot
0.12 ac (5,386 SF)
Zoning code
C1
APN
416144028
UPID
US90-1109264
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.03M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.79M
Owner & transaction history
Stimson Properties LLC · 4 yrs held
Stimson Properties LLC
since 2022
Last sale
$3.5M
3 recorded transactions
Zoning & alternative use
C1 · Puyallup, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.4M
+141.8%
Restaurant
$2.3M
+67.8%
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
$4,075,000
ML approach
$4,025,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,355,000
Change: +142% · Conversion: Difficult
RESTAURANT
$2,330,000
Change: +68% · Conversion: Difficult
Blend value · Realmo final
$3.79M
Range $3.41M – $4.17M · ±10% · vs last sale $3.53M (Jul 8 2022)
Last sale anchor
$3.53M
Jul 8 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
$750 / 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
$13,152
Tax year 2024
Assessed value
$1,453,700
Assessed 2024
Previous assessed
$1,453,700
+0.0% YoY
Effective rate
0.90%
On assessed value
Assessed land
$71,300
Assessed improvement
$1,382,400
Land market value
$71,300
Improvement market value
$1,382,400
Total market value
$1,453,700
Applied tax rate
60.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2011
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
5,056 SF
Lot
0.12 ac (5,386 SF)
Zoning code
C1
APN
416144028
UPID
US90-1109264
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C1 · Puyallup, WAZoning C1 · permitted uses
C1 · 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
INDUSTRIAL (GENERAL)
Est. value
$3.4M
RESTAURANT
Est. value
$2.3M
INDUSTRIAL (GENERAL)
RESTAURANT
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
2011
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Stimson Properties LLC
Entity
Mailing address
14115 229TH ST CT E, GRAHAM, WA 98338-7616
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 8, 2022
$3,528,571
Stimson Properties LLC
Ash Development Lemay LLC
Warranty Deed
$1,710,000 · Timberland Bank
Oct 31, 2008
—
Lemay Investments LLC
Harold Lemay Ents INC
Quit Claim Deed
related
—
Dec 6, 2005
$625,000
Harold Lemay Ents INC
Vancleve,george P JR & Rosemarie
Warranty Deed
—
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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