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Property profile & analytics
OFF-MARKET
Estimated value
$920,000
Medical Office Space
702 23rd SE Ave Puyallup, WA 98372-4661
Entity Owned
6-yr Hold
Free & Clear
Property ID
US90-1165450
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,134 SF
Lot
1.18 ac (51,401 SF)
Zoning code
PDC
APN
419032080
UPID
US90-1165450
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
-
Good Samaritan Pulmonology Medical Clinic
-
Share & Care House of Puyallup Social Service Agency Charitable Organization
-
Dr. David A. Angulo-Zereceda Physician
-
Iyer Nithya K MD Physician
-
Dr. Vernon J. Nessan, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$900k
Comparable Approach
Comparable
$1.11M
Blend (final)
Blend
$920k
Owner & transaction history
City Of Puyallup · 6 yrs held
City Of Puyallup
since 2019
6 recorded transactions
Zoning & alternative use
PDC · Puyallup, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Planned developments are intended to provide for high quality development projects where site design and use flexibility is desirable to allow for more creative and imaginative designs
Zone name
Planned Community Development
General category
PLANNED_DEVELOPMENT
Zone area
120.48 ac
Source
Realmo
Top alternative use upside
Retail stores
$1.3M
+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%
$975,000
6.5%
$900,000
7%
$835,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,135,000
Current use
RETAIL STORES
$1,285,000
Change: +13% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,050,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±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
$223 / 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
$1,910
Tax year 2024
Assessed value
$1,086,600
Assessed 2024
Previous assessed
$1,086,600
+0.0% YoY
Effective rate
0.18%
On assessed value
Assessed land
$726,500
Assessed improvement
$360,100
Land market value
$726,500
Improvement market value
$360,100
Total market value
$1,086,600
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
1
Total area
4,134 SF
Lot
1.18 ac (51,401 SF)
Zoning code
PDC
APN
419032080
UPID
US90-1165450
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
PDC · Puyallup, WAZoning PDC · permitted uses
PDC · Puyallup, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Planned developments are intended to provide for high quality development projects where site design and use flexibility is desirable to allow for more creative and imaginative designs
Zone name
Planned Community Development
General category
PLANNED_DEVELOPMENT
Zone area
120.48 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.1M
RETAIL STORES
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.1M
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
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.18 ac
Current owner
From public records · entity-resolved
City Of Puyallup
Entity
Free & Clear · 6 yrs held
Mailing address
PO BOX 800, PUYALLUP, WA 98371-0072
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2019
$1,700
City Of Puyallup
Share House
Warranty Deed
—
Apr 17, 2015
$595,000
Share & Care House
Mott Family Investments LLC
Warranty Deed
$400,000 · Keybank USA
Jul 24, 2003
$420,112
Mott Family Investments LLC
Adams,wendell W & Nancy E
Grant Deed
$435,000 · Columbia State Bank
Jul 24, 2003
—
Mott Family Investments LLC
Puyallup Valley Equipment Co
Quit Claim Deed
related
—
Feb 10, 1999
—
Puyallup Valley Equipment Co
Mott,donald H & Beret E
Trustees Deed
related
—
Feb 14, 1996
$176,649
Wendell W Adams
Mott,donald H & Beret E
Grant Deed
$78,324 · Seller
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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