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Property profile & analytics
OFF-MARKET
Estimated value
$5,725,000
Retail space
16912 Meridian E Puyallup, WA 98375-6224
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-2775693
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
25,148 SF
Lot
10.27 ac (447,187 SF)
APN
6026720030
UPID
US90-2775693
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
-
Amazon Locker - Invitation Postal Service Courier Service
-
Ross Dress for Less Clothing Store Department Store
-
Eisnaugle LLC Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.60M
Blend (final)
Blend
$5.73M
Owner & transaction history
Blazen Delaware LLC · 6 yrs held
Blazen Delaware LLC
since 2019
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$9.4M
+19.8%
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
RETAIL STORES
$7,815,000
Current use
COMMERCIAL (GENERAL)
$9,365,000
Change: +20% · Conversion: Easy
MEDICAL BUILDING
$6,905,000
Change: -12% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,375,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$5.73M
Range $5.15M – $6.30M · ±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
$228 / 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
$185,009
Tax year 2024
Assessed value
$17,984,500
Assessed 2024
Previous assessed
$17,984,500
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$7,083,900
Assessed improvement
$10,900,600
Land market value
$7,083,900
Improvement market value
$10,900,600
Total market value
$17,984,500
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Buildings
6
Stories
1
Total area
25,148 SF
Lot
10.27 ac (447,187 SF)
APN
6026720030
UPID
US90-2775693
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
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
RETAIL STORES Current
Est. value
$7.8M
COMMERCIAL (GENERAL)
Est. value
$9.4M
MEDICAL BUILDING
Est. value
$6.9M
WAREHOUSE, STORAGE
Est. value
$6.4M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
6
Lot
10.27 ac
Current owner
From public records · entity-resolved
Blazen Delaware LLC
Entity
Mailing address
2940 FAIRVIEW AVE E, SEATTLE, WA 98102-3016
Ownership since
2019
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
Aug 22, 2019
$173,000
Blazen Delaware LLC
Verus Puyallup LLC
Warranty Deed
$11,500,000 · Morgan Stanley Bank NA
Dec 19, 2017
—
Verus Puyallup LLC
—
Deed
related
$14,000,000 · Umpqua Bank
Oct 16, 2017
—
Verus-puyallup LLC
—
Deed
related
—
—
—
Verus-puyallup LLC
—
Loan Modification
related
—
—
—
Verus-puyallup LLC
—
Loan Modification
related
—
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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