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Property profile & analytics
OFF-MARKET
Estimated value
$4,595,000
Medical Office Space
12005 Meridian E Puyallup, WA 98373-3423
Entity Owned
6-yr Hold
Free & Clear
Property ID
US90-1356007
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2018
Construction
WOOD FRAME
Total area
7,377 SF
Lot
0.75 ac (32,670 SF)
Zoning code
CC
APN
419107023
UPID
US90-1356007
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
-
Puyallup Modern Dentistry Dental Office
-
Franciscan Medical Clinic - Meridian East Medical Clinic
-
Christopher Christiansen, MD Pediatrician Physician
-
Charanjit Virk Pediatrician Physician
-
Margaret Henderson Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.91M
Blend (final)
Blend
$4.60M
Owner & transaction history
Hp Puyallup LLC · 6 yrs held
Hp Puyallup LLC
since 2020
Last sale
$5.0M
7 recorded transactions
Zoning & alternative use
CC · Puyallup, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$4.9M
+141.8%
Restaurant
$3.4M
+67.8%
Neighborhood: shopping center
$3.1M
+55.3%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$4,895,000
Change: +142% · Conversion: Difficult
RESTAURANT
$3,400,000
Change: +68% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,145,000
Change: +55% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,845,000
Change: +41% · Conversion: Difficult
Blend value · Realmo final
$4.60M
Range $4.14M – $5.05M · ±10% · vs last sale $4.95M (Mar 2 2020)
Last sale anchor
$4.95M
Mar 2 2020
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
$623 / 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
$41,424
Tax year 2024
Assessed value
$3,993,800
Assessed 2024
Previous assessed
$3,993,800
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$1,434,100
Assessed improvement
$2,559,700
Land market value
$1,434,100
Improvement market value
$2,559,700
Total market value
$3,993,800
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2018
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Total area
7,377 SF
Lot
0.75 ac (32,670 SF)
Zoning code
CC
APN
419107023
UPID
US90-1356007
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
INDUSTRIAL (GENERAL)
Est. value
$4.9M
RESTAURANT
Est. value
$3.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.8M
INDUSTRIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
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
2018
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
Hp Puyallup LLC
Entity
Free & Clear · 6 yrs held
Mailing address
6100 219TH ST SW STE #535, MOUNTLAKE TERRACE, WA 98043-6204
Ownership since
2020
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
Mar 2, 2020
$6,350,000
Hp Puyallup LLC
Puyallup Covenant Group LLC
Warranty Deed
—
Mar 2, 2020
—
Hp Puyallup LLC
—
Deed
related
$3,250,000 · Miscellaneous Ins Co
Nov 30, 2018
$4,950,000
Puyallup Covenant Group LLC
Alturas 12005 Meridian LLC
Warranty Deed
$3,250,000 · Miscellaneous Ins Co
Apr 28, 2017
$1,499,719
Alturas 12005 Meridian LLC
Brenda Gazabat
Warranty Deed
$3,225,000 · Washington Federal NA
Jul 15, 2011
—
Burmeister Robert A Trust
Burmeister Robert A Trust
Quit Claim Deed
related
—
Jun 19, 2008
—
Burmeister Robert A Trust
Burmeister Robert A
Quit Claim Deed
—
Apr 15, 1993
$424,000
Lim Young T
Unknown
Grant Deed
—
—
—
Hp Puyallup LLC
—
Loan Modification
related
$3,250,000 · Miscellaneous Ins Co
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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