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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Office Spaces
4115 Meridian Puyallup, WA 98373-5972
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US90-3247827
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1979
Construction
WOOD FRAME
Total area
4,120 SF
Lot
0.26 ac (11,326 SF)
Zoning code
CG
APN
419106020
UPID
US90-3247827
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
-
Law Offices of Greene & Lloyd, PLLC Law Firm
-
Enlightened Therapy Medical Clinic
-
Body and Soul Therapeutic Massage Alternative Medicine Practice Spa & Massage Center
-
Career Counseling Business Service Center Employment Agency
-
Jessica Stearns Counselor Practitioner Service Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$755k
Comparable Approach
Comparable
$929k
Blend (final)
Blend
$840k
Owner & transaction history
Pederson Dev III LLC · 20 yrs held
Pederson Dev III LLC
since 2006
2 recorded transactions
Zoning & alternative use
CG · Puyallup, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
CG General Commercial Zone. The CG zone is intended to provide for retailing and other commercial services that serve the large market area surrounding the Puyallup community. Such commercial developments usually rely upon the automobile as their principal source of access. Maximum building heights range between four and six stories. In contrast to the CB zo…
Zone name
General Commercial Zone
General category
COMMERCIAL
Zone area
288.87 ac
Top alternative use upside
Retail stores
$1.3M
+6.9%
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%
$815,000
6.5%
$755,000
7%
$700,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,200,000
Current use
RETAIL STORES
$1,280,000
Change: +7% · Conversion: Easy
MEDICAL BUILDING
$1,130,000
Change: -6% · Conversion: Easy
WAREHOUSE, STORAGE
$1,045,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$840k
Range $756k – $924k · ±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
$204 / 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
$8,654
Tax year 2024
Assessed value
$741,600
Assessed 2024
Previous assessed
$741,600
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$411,200
Assessed improvement
$330,400
Land market value
$411,200
Improvement market value
$330,400
Total market value
$741,600
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1979
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
2
Units
1
Total area
4,120 SF
Lot
0.26 ac (11,326 SF)
Zoning code
CG
APN
419106020
UPID
US90-3247827
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
CG · Puyallup, WAZoning CG · permitted uses
CG · Puyallup, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
CG General Commercial Zone. The CG zone is intended to provide for retailing and other commercial services that serve the large market area surrounding the Puyallup community. Such commercial developments usually rely upon the automobile as their principal source of access. Maximum building heights range between four and six stories. In contrast to the CB zone, some uses in the CG zone may require large tracts of land and involve outdoor display of products for sale (such as automobile sales). The CG zone is also intended to allow some uses which are quasi-light industrial in character. ( Ord. 2147 Exh. A , 1987 ; Ord. 2454
Zone name
General Commercial Zone
General category
COMMERCIAL
Zone area
288.87 ac
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.2M
RETAIL STORES
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.0M
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1979
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
Pederson Dev III LLC
Entity
Mailing address
11220 164TH ST E, PUYALLUP, WA 98374-9557
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2006
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
Mar 8, 2006
$500,000
Pederson Dev III LLC
Williamson,leslie M & Judy L
Warranty Deed
$400,000 · Valley Bank
Nov 4, 1992
$325,000
Robert B Andrews
Unknown
Grant Deed
—
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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