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Property profile & analytics
OFF-MARKET
Estimated value
$625,000
Office Spaces
1705 Meridian E Ave Edgewood, WA 98371-1014
Entity Owned
1-yr Hold
Free & Clear
Property ID
US90-3149210
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1942
Construction
WOOD FRAME
Total area
1,151 SF
Lot
0.46 ac (20,087 SF)
Zoning code
COMMUNITY
APN
420102021
UPID
US90-3149210
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
$610k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$433k
Blend (final)
Blend
$625k
Owner & transaction history
Mahan Walker LLC · 1 yrs held
Mahan Walker LLC
since 2025
Last sale
$609,375
7 recorded transactions
Zoning & alternative use
COMMUNITY · Edgewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Edgewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Edgewood 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
$670,000
ML approach
$610,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$560,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$490,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$625k
Range $563k – $688k · ±10% · vs last sale $609k (Oct 13 2023)
Last sale anchor
$609k
Oct 13 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
$543 / 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
$5,327
Tax year 2024
Assessed value
$431,100
Assessed 2024
Previous assessed
$431,100
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$327,200
Assessed improvement
$103,900
Land market value
$327,200
Improvement market value
$103,900
Total market value
$431,100
Applied tax rate
770.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1942
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
1
Total area
1,151 SF
Lot
0.46 ac (20,087 SF)
Zoning code
COMMUNITY
APN
420102021
UPID
US90-3149210
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
COMMUNITY · Edgewood, WA
Zoning COMMUNITY · permitted uses
COMMUNITY · Edgewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Edgewood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$560,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$490,000
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
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
1942
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Mahan Walker LLC
Entity
Free & Clear · 1 yrs held
Mailing address
429 29TH ST NE STE A, PUYALLUP, WA 98372-6767
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2025
—
Mahan Walker LLC
Oxbow Urban Kitchen LLC
Quitclaim Deed
related
—
Oct 13, 2023
$609,375
Oxbow Urban Kitchen LLC
Jeffrey S Bradshaw
Warranty Deed
$509,375 · Jeffrey And Toni Bradshaw Trust Liv
Aug 30, 2023
—
Jeffrey S Bradshaw
Jeffrey S Bradshaw
Intrafamily Transfer
related
—
Oct 21, 2021
—
Jeffrey S Bradshaw
Jeffrey S Bradshaw
Intrafamily Transfer
related
—
May 15, 2008
$40,400
State Of Wa/dept/transportation
Bradshaw,jeffrey S
Warranty Deed
—
Dec 27, 2005
—
Jeffrey S Bradshaw
Bradshaw,julie A
Quit Claim Deed
related
—
Mar 6, 2001
$211,000
Jeffrey S Bradshaw
Briggs,richard E & Loretta M
Grant Deed
—
Jul 19, 1991
$85,000
E Richard E Briggs
Maki,daniel J
Grant Deed
$65,000 · Maki Daniel J
—
—
E Richard E Briggs
—
Deed Of Trust
related
$70,500 · Directors Mortgage Loan Corp
—
—
Jeffrey S Bradshaw
—
Deed Of Trust
related
$267,200 · Wells Fargo 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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