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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Warehouses
1401 Meridian, Puyallup, WA 98371-3241
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-3313109
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,800 SF
Lot
6.46 ac (281,398 SF)
Zoning code
ML
APN
420223134
UPID
US90-3313109
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
$1.03M
CAP Approach
CAP
$550k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$840k
Owner & transaction history
Sst IV 1401 N Meridian Ave LLC · 8 yrs held
Sst IV 1401 N Meridian Ave LLC
since 2018
7 recorded transactions
Zoning & alternative use
ML · Puyallup, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+22.0%
Medical building
$1.0M
+8.3%
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
$1,025,000
CAP Approach
CAP Return
Estimation
6%
$595,000
6.5%
$550,000
7%
$510,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$965,000
Current use
RETAIL STORES
$1,175,000
Change: +22% · Conversion: Moderate
MEDICAL BUILDING
$1,045,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$840k
Range $756k – $924k · ±10%
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
$221 / 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
$148,273
Tax year 2024
Assessed value
$14,728,900
Assessed 2024
Previous assessed
$14,728,900
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed land
$4,763,400
Assessed improvement
$9,965,500
Land market value
$4,763,400
Improvement market value
$9,965,500
Total market value
$14,728,900
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Buildings
14
Stories
1
Total area
3,800 SF
Lot
6.46 ac (281,398 SF)
Zoning code
ML
APN
420223134
UPID
US90-3313109
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
ML · Puyallup, WA
Zoning ML · permitted uses
ML · 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
WAREHOUSE, STORAGE Current
Est. value
$965,000
RETAIL STORES
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.0M
WAREHOUSE, STORAGE Current
RETAIL STORES
MEDICAL BUILDING
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
NONE
Cooling
Yes
Stories
1
Buildings
14
Lot
6.46 ac
Current owner
From public records · entity-resolved
Sst IV 1401 N Meridian Ave LLC
Entity
Mailing address
PO BOX 320099, ALEXANDRIA, VA 22320-4099
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2020
—
Sst IV 1401 N Meridian Ave LLC
—
Deed
related
$40,500,000 · Keybank USA
Jul 1, 2019
—
Sst IV 1401 N Meridian Ave LLC
—
Deed
related
$300,000,000 · Keybank USA
Aug 1, 2018
—
Sst IV 1401 N Meridian Ave LLC
—
Deed
related
$70,000,000 · Keybank USA
May 22, 2018
$12,900,000
Sst IV 1401 N Meridian Ave LLC
Spencer Puyallup LLC
Grant Deed
—
Feb 15, 2006
$5,798,000
Spencer Puyallup LLC
Newcomer Puyallup II LLC
Warranty Deed
$4,350,000 · Citibank Fsb
Jul 27, 2005
—
Newcomer Puyallup II LLC
Puyallup II LLC
Quit Claim Deed
related
—
Mar 21, 2000
—
Puyallup II LLC
—
Deed Of Trust
related
$1,500,000 · Wells Fargo Bank
Apr 21, 1999
—
William E Newcomer
Gardian Storage Puyallup
Quit Claim Deed
related
—
May 19, 1989
$497,623
Gardian Storage Puyallup
Unknown
Grant Deed
—
—
—
Sst IV 1401 N Meridian Ave LLC
—
Deed Of Trust
related
$300,000,000 · Keybank USA
—
—
Puyallup II LLC
—
Deed Of Trust
related
$2,500,000 · Wells Fargo Bank
—
—
Sst IV 1401 N Meridian Ave LLC
—
Deed Of Trust
related
$40,500,000 · Keybank USA
—
—
Spencer Puyallup LLC
—
Deed Of Trust
related
$3,720,000 · First Fed'l S & L Port Angeles
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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