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Property profile & analytics
OFF-MARKET
Estimated value
$4,410,000
Medical Office Space
1701 3rd SE St Puyallup, WA 98372-4511
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US90-1046635
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Construction
CONCRETE
Total area
21,928 SF
Lot
1 ac (43,560 SF)
Zoning code
MED
APN
7790000562
UPID
US90-1046635
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
-
Laboratories Northwest - Rieder Building Medical Laboratory
-
MultiCare Medical Center Medical Clinic
-
MultiCare Puyallup Internal Medicine Clinic Medical Clinic
-
Jebin M. Chacko, MD Physician Medical Clinic
-
Dr. Martha Yanci Torres Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.79M
Comparable Approach
Comparable
$4.66M
Blend (final)
Blend
$4.41M
Owner & transaction history
1701 Medical Center LLC · 20 yrs held
1701 Medical Center LLC
since 2005
4 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
Retail stores
$6.8M
+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
by Request
CAP Approach
CAP Return
Estimation
6%
$5,180,000
6.5%
$4,785,000
7%
$4,440,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$6,020,000
Current use
RETAIL STORES
$6,815,000
Change: +13% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,555,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$4.41M
Range $3.97M – $4.85M · ±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
$201 / 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
$66,582
Tax year 2024
Assessed value
$6,788,100
Assessed 2024
Previous assessed
$6,788,100
+0.0% YoY
Effective rate
0.98%
On assessed value
Assessed land
$1,655,000
Assessed improvement
$5,133,100
Land market value
$1,655,000
Improvement market value
$5,133,100
Total market value
$6,788,100
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
2007
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
2
Stories
2
Units
1
Total area
21,928 SF
Lot
1 ac (43,560 SF)
Zoning code
MED
APN
7790000562
UPID
US90-1046635
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
$6.0M
RETAIL STORES
Est. value
$6.8M
WAREHOUSE, STORAGE
Est. value
$5.6M
MEDICAL BUILDING Current
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
2007
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Units
1
Lot
1 ac
Current owner
From public records · entity-resolved
1701 Medical Center LLC
Entity
Mailing address
PO BOX 73416, PUYALLUP, WA 98373-0416
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 12, 2021
—
1701 Medical Center LLC
—
Deed
related
$3,000,000 · Columbia State Bank
Mar 27, 2017
—
1701 Medical Center L L C
—
Deed
related
$4,080,100 · Jpmorgan Chase Bank NA
May 15, 2006
—
1701 Medical Center LLC
—
Trustees Deed
related
$4,535,000 · Columbia State Bank
Nov 1, 2005
—
1701 Medical Center LLC
Rieder,helmut J & Ingeborg M
Quit Claim Deed
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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