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Property profile & analytics
OFF-MARKET
Estimated value
$1,020,000
Medical Office Space
1409 2nd SE St Puyallup, WA 98372-3706
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0908987
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1950
Construction
WOOD FRAME
Total area
1,999 SF
Lot
0.38 ac (16,500 SF)
Zoning code
MED
APN
9810000331
UPID
US90-0908987
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
-
Dr. Cecil E. Snodgrass, MD Physician
-
Alexandra Popescu-Vladimir Pediatrician Physician
-
Victor J. Harris, PA Physician
-
Robert Kimmel Physician
-
Mrs. Devon Capristo Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.05M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$707k
Blend (final)
Blend
$1.02M
Owner & transaction history
Legales LLC · 2 yrs held
Legales LLC
since 2023
Last sale
$997,000
7 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
Commercial (general)
$875,000
+59.2%
Neighborhood: shopping center
$850,000
+55.3%
Auto repair, garage
$770,000
+40.5%
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
$1,035,000
ML approach
$1,050,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$875,000
Change: +59% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$850,000
Change: +55% · Conversion: Difficult
AUTO REPAIR, GARAGE
$770,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$620,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$1.02M
Range $918k – $1.12M · ±10% · vs last sale $997k (Sep 20 2023)
Last sale anchor
$997k
Sep 20 2023
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
$510 / 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
$7,937
Tax year 2024
Assessed value
$693,200
Assessed 2024
Previous assessed
$693,200
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$470,500
Assessed improvement
$222,700
Land market value
$470,500
Improvement market value
$222,700
Total market value
$693,200
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
1950
Construction
WOOD FRAME
Heating
HEAT PUMP
Buildings
2
Stories
1
Units
1
Bathrooms
2
Total area
1,999 SF
Lot
0.38 ac (16,500 SF)
Zoning code
MED
APN
9810000331
UPID
US90-0908987
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
COMMERCIAL (GENERAL)
Est. value
$875,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$850,000
AUTO REPAIR, GARAGE
Est. value
$770,000
RETAIL STORES
Est. value
$620,000
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
RETAIL STORES
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
1950
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Buildings
2
Units
1
Bathrooms
2
Lot
0.38 ac
Current owner
From public records · entity-resolved
Legales LLC
Entity
Mailing address
651 STRANDER BLVD STE #215, TUKWILA, WA 98188-2953
Ownership since
2023
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
Sep 20, 2023
$997,000
Legales LLC
Snodgrass Properties I LLC
Warranty Deed
$2,000,000 · Snodgrass Properties I LLC
Apr 7, 2000
—
Cecil E Snodgrass
—
Grant Deed
related
$263,500 · Puyallup Valley Bank
Jul 9, 1999
$160,000
Cecil E Snodgrass
Hiebichuk,william P & Anne
Grant Deed
$121,431 · Frontier Bank
—
—
Snodgrass Properties I LLC
—
Deed Of Trust
related
$336,000 · Puyallup Valley Bank
—
—
William P Hlebichuk
—
Deed Of Trust
related
$117,000 · Centex Home Equity Corp
—
—
William P Hlebichuk
—
Deed Of Trust
related
$65,000 · Washington Mutual Fsb
—
—
Snodgrass Properties I LLC
—
Deed Of Trust
related
$90,000 · Valley Bank
—
—
Cecil E Snodgrass
—
Deed Of Trust
related
$146,500 · 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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