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Property profile & analytics
OFF-MARKET
Estimated value
$5,465,000
Retail space
611 Meridian Puyallup, WA 98371-5907
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US90-0461361
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
25,500 SF
Lot
3.41 ac (148,540 SF)
Zoning code
CBD
APN
420273083
UPID
US90-0461361
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
-
Mary N. Henselen, PharmD Pharmacy
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Safeway Pharmacy Pharmacy
-
Western Union Bank Credit Union
-
Cardtronics ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.40M
Comparable Approach
Comparable
$7.26M
Blend (final)
Blend
$5.47M
Owner & transaction history
Block Village Fair LLC · 13 yrs held
Block Village Fair LLC
since 2012
7 recorded transactions
Zoning & alternative use
CBD · Puyallup, 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 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%
$3,685,000
6.5%
$3,400,000
7%
$3,160,000
Alternative Use
Use
Estimation
RETAIL STORES
$7,880,000
Current use
MEDICAL BUILDING
$7,000,000
Change: -11% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,460,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$5.47M
Range $4.92M – $6.01M · ±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
$214 / 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
$64,150
Tax year 2024
Assessed value
$6,205,900
Assessed 2024
Previous assessed
$6,205,900
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$4,997,600
Assessed improvement
$1,208,300
Land market value
$4,997,600
Improvement market value
$1,208,300
Total market value
$6,205,900
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Total area
25,500 SF
Lot
3.41 ac (148,540 SF)
Zoning code
CBD
APN
420273083
UPID
US90-0461361
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
CBD · Puyallup, WA
Zoning CBD · permitted uses
CBD · Puyallup, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Puyallup. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$7.9M
MEDICAL BUILDING
Est. value
$7.0M
WAREHOUSE, STORAGE
Est. value
$6.5M
RETAIL STORES Current
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
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Lot
3.41 ac
Current owner
From public records · entity-resolved
Block Village Fair LLC
Entity
Mailing address
1200 112TH AVE NE STE A101, BELLEVUE, WA 98004-3708
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2017
—
Bloch Village Fair LLC
—
Deed
related
$3,200,000 · Boeing Emps Cu
Aug 17, 2012
—
Block Village Fair LLC
Bloch Equity II LLC
Quit Claim Deed
—
Mar 5, 2010
—
Bloch Equity II LLC
Bloch,darren
Quit Claim Deed
—
Nov 6, 2008
$299,901
Cb Third Avenue LLC
Jbt Third Avenue LLC
Warranty Deed
—
Jan 12, 2007
—
Cb Third Avenue LLC
Bloch Properties LLC
Warranty Deed
—
Oct 2, 1995
—
Christine Bloch
Jackson,joel
Quit Claim Deed
related
—
Oct 2, 1995
$989,888
Bloch,christine
Pacific Coast Properties INC
Trustees Deed
—
—
—
Cb Third Avenue LLC
—
Deed Of Trust
related
—
—
—
Bloch Village Fair LLC
—
Deed Of Trust
related
$3,200,000 · Boeing Emps Cu
—
—
Bloch Properties LLC
—
Deed Of Trust
related
$1,620,000 · Us Bank NA
—
—
Bloch Properties LLC
—
Deed Of Trust
related
$630,000 · Christine Bloch
—
—
Bloch Properties LLC
—
Deed Of Trust
related
$125,000 · Us Bank
—
—
Christine Bloch
—
Deed Of Trust
related
$644,000 · Seattle-first National Bank
—
—
Christine Bloch
—
Deed Of Trust
related
$644,000 · Seattle-first National 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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