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Property profile & analytics
OFF-MARKET
Estimated value
$5,690,000
Strip malls
18810 Meridian E Puyallup, WA 98375-2249
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0635006
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
17,075 SF
Lot
1.65 ac (72,005 SF)
Zoning code
MUD
APN
6025020030
UPID
US90-0635006
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
-
Leroy Surveyors & Engineers Land Surveyor Engineer
-
Rooted Earth Bodywork Alternative Medicine Practice Spa & Massage Center
-
Pizza Hut Take-out & Catering
-
Pro Barber Barber Shop
-
Vesica Wellness Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.78M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.42M
Blend (final)
Blend
$5.69M
Owner & transaction history
Jotoji Enterprise INC · 4 yrs held
Jotoji Enterprise INC
since 2022
Last sale
$5.2M
2 recorded transactions
Zoning & alternative use
MUD · Puyallup, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.9M
+8.1%
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
$5,950,000
ML approach
$5,780,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$7,280,000
Current use
RESTAURANT
$7,865,000
Change: +8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,585,000
Change: -10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,360,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$5.69M
Range $5.12M – $6.26M · ±10% · vs last sale $5.15M (Feb 28 2022)
Last sale anchor
$5.15M
Feb 28 2022
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
$333 / 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
$49,329
Tax year 2024
Assessed value
$4,339,700
Assessed 2024
Previous assessed
$4,339,700
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$1,455,900
Assessed improvement
$2,883,800
Land market value
$1,455,900
Improvement market value
$2,883,800
Total market value
$4,339,700
Applied tax rate
220.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
17,075 SF
Lot
1.65 ac (72,005 SF)
Zoning code
MUD
APN
6025020030
UPID
US90-0635006
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MUD · Puyallup, WAZoning MUD · permitted uses
MUD · Puyallup, WA
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$7.3M
RESTAURANT
Est. value
$7.9M
AUTO REPAIR, GARAGE
Est. value
$6.6M
COMMERCIAL (GENERAL)
Est. value
$6.4M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
1.65 ac
Current owner
From public records · entity-resolved
Jotoji Enterprise INC
Entity
Mailing address
2352 41ST AVE SE, PUYALLUP, WA 98374-4555
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2022
$5,150,000
Jotoji Enterprise INC
South Meridian Properties LLC
Warranty Deed
$2,700,000 · Us Bank NA
Jun 14, 2007
—
South Meridian Properties LLC
Gotta Store It LLC
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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