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Property profile & analytics
OFF-MARKET
Estimated value
$24,155,000
Outlet malls
120 31st SE Ave Puyallup, WA 98374-1203
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0671195
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
141,085 SF
Lot
4.86 ac (211,658 SF)
Zoning code
CG
APN
6021740020
UPID
US90-0671195
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
-
PetsHotel Puyallup Kennel & Boarding Facility
-
TagWorks (Bike/Boat/Book/etc) Store Pet Store & Service
-
Banfield Pet Hospital Veterinary Clinic
-
PetSmart Grooming Pet Grooming Service
-
PetSmart Dog Training Animal Training
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$18.82M
Comparable Approach
Comparable
$29.55M
Blend (final)
Blend
$24.16M
Owner & transaction history
South Hill Village LLC · 4 yrs held
South Hill Village LLC
since 2021
Last sale
$24.1M
5 recorded transactions
Zoning & alternative use
CG · Puyallup, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$31,120,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$20,385,000
6.5%
$18,815,000
7%
$17,470,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$38,730,000
Change: -12% · Conversion: Difficult
WAREHOUSE, STORAGE
$35,750,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$24.16M
Range $21.74M – $26.57M · ±10% · vs last sale $24.10M (Nov 15 2021)
Last sale anchor
$24.10M
Nov 15 2021
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
$171 / 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
$212,818
Tax year 2024
Assessed value
$20,870,500
Assessed 2024
Previous assessed
$20,870,500
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$3,846,400
Assessed improvement
$17,024,100
Land market value
$3,846,400
Improvement market value
$17,024,100
Total market value
$20,870,500
Applied tax rate
96.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
141,085 SF
Lot
4.86 ac (211,658 SF)
Zoning code
CG
APN
6021740020
UPID
US90-0671195
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
CG · Puyallup, WA
Zoning CG · permitted uses
CG · Puyallup, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Puyallup. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$38.7M
WAREHOUSE, STORAGE
Est. value
$35.8M
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
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
4.86 ac
Current owner
From public records · entity-resolved
South Hill Village LLC
Entity
Mailing address
1717 WOODSTEAD CT STE #298, THE WOODLANDS, TX 77380-1448
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2021
$24,100,000
South Hill Village LLC
Spire South Hill LP
Warranty Deed
$15,600,000 · Genworth Life Insurance Company
Mar 11, 2014
—
Spire South Hill LP
Shv Partners LLC
Special Warranty Deed
—
Oct 28, 2013
—
Shv Partners LLC
—
Grant Deed
related
$1,087,500 · Peoples Bank & Trust
Apr 17, 2012
$15,000,000
Shv Partners LLC
Southill Village Limited Partnershi
Warranty Deed
$10,000,000 · Peoples Bank
Nov 6, 2008
—
South Hill Village
—
Deed Of Trust
related
$11,500,000 · Bank Of America
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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