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Property profile & analytics
OFF-MARKET
Estimated value
$3,360,000
Medical Office Space
1408 3rd SE St Puyallup, WA 98372-3702
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1350115
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
13,090 SF
Lot
0.13 ac (5,500 SF)
Zoning code
MED
APN
9810000390
UPID
US90-1350115
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
-
Jessica Sheng Physician
-
Apex Spine and Orthopedics Puyallup Office Medical Clinic
-
Stephanie Perceful Counselor Practitioner Service Location
-
Mrs. Katelyn Neufeld Physician
-
Ali Coster Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.70M
CAP Approach
CAP
$2.86M
Comparable Approach
Comparable
$2.37M
Blend (final)
Blend
$3.36M
Owner & transaction history
Che II Puyallup Mob LLC · 5 yrs held
Che II Puyallup Mob LLC
since 2021
Last sale
$3.7M
5 recorded transactions
Zoning & alternative use
MED · Puyallup, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Permitted uses - MED zone. § 20.43.015 Conditionally permitted uses - MED zone. § 20.43.020 Property development standards - MED zone. § 20.43.025 Residential uses. § 20.43.030 Design review standards. § 20.43.035 Required parking.
Zone name
Medical Zone
General category
UNKNOWN
Zone area
58.21 ac
Top alternative use upside
Neighborhood: shopping center
$5.6M
+55.3%
Auto repair, garage
$5.1M
+40.5%
Retail stores
$4.1M
+13.2%
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
$4,700,000
CAP Approach
CAP Return
Estimation
6%
$3,095,000
6.5%
$2,855,000
7%
$2,650,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,595,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$5,580,000
Change: +55% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,050,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$4,070,000
Change: +13% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,315,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$3.36M
Range $3.02M – $3.70M · ±10% · vs last sale $3.65M (Jan 20 2021)
Last sale anchor
$3.65M
Jan 20 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
$257 / 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
$24,580
Tax year 2024
Assessed value
$2,320,900
Assessed 2024
Previous assessed
$2,320,900
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$295,700
Assessed improvement
$2,025,200
Land market value
$295,700
Improvement market value
$2,025,200
Total market value
$2,320,900
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Bathrooms
1
Total area
13,090 SF
Lot
0.13 ac (5,500 SF)
Zoning code
MED
APN
9810000390
UPID
US90-1350115
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MED · Puyallup, WAZoning MED · permitted uses
MED · Puyallup, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Permitted uses - MED zone. § 20.43.015 Conditionally permitted uses - MED zone. § 20.43.020 Property development standards - MED zone. § 20.43.025 Residential uses. § 20.43.030 Design review standards. § 20.43.035 Required parking.
Zone name
Medical Zone
General category
UNKNOWN
Zone area
58.21 ac
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$3.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.6M
AUTO REPAIR, GARAGE
Est. value
$5.1M
RETAIL STORES
Est. value
$4.1M
WAREHOUSE, STORAGE
Est. value
$3.3M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
RETAIL STORES
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
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Che II Puyallup Mob LLC
Entity
Mailing address
425 7TH ST NE, CHARLOTTESVILLE, VA 22902-4723
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
Jan 20, 2021
$3,650,000
Che II Puyallup Mob LLC
Srs Ventures LLC
Special Master Deed
related
$8,450,000 · Synovus Bank
Dec 6, 2018
$2,861,761
Srs Ventures LLC
Transition Consultants LLC
Special Warranty Deed
$2,100,000 · Heritage Bank
Dec 23, 2015
$1,859,719
Expanding Puyallup LLC
Stanley Shui Wah Ip
Warranty Deed
$1,395,000 · Wells Fargo Bank NA
Aug 19, 1991
$200,000
Stanley S Ip
Blanchard,evelyn
Grant Deed
$140,000 · Blanchard Evelyn M
—
—
Stanley S Ip
—
Deed Of Trust
related
$80,000 · Puyallup Valley 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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