Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$5,895,000
Office Spaces
702 Hl Park Dr Puyallup, WA 98373-1426
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-2739863
Property summary
AI-generated overview
This exceptional two-story, Class B professional center, located at 702 S Hill Park Dr in Puyallup, WA 98373, offers a variety of flexible office spaces for lease. The South Hill Park Professional Center boasts a total of 4,187 square feet, with 2,937 square feet currently vacant. Units range from a minimum of 474 square feet to a maximum contiguous space of 1,832 square feet, making it ideal for businesses of various sizes. The building, constructed in 2000, features ample parking with 98 spaces and convenient elevator access. Its zoning is CG, and the APN is 6020120023. The property is situated in Pierce County and offers a prime location for businesses seeking a professional and accessible environment. The building is suitable for executive office, medical office, and other professional uses, accommodating multiple tenants. This is a rare opportunity to secure high-quality office space in a thriving Puyallup location. Interested parties should inquire about available spaces and lease terms. The property consists of one building with two stories.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2000
Construction
WOOD FRAME
Total area
26,400 SF
Lot
2.21 ac (96,268 SF)
APN
6020120023
UPID
US90-2739863
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
-
Zhihao You, DDS, MS, PhD Dental Office
-
Dr. Usha Rangaswamaiah, DDS Dental Office
-
Willamette Dental Group Dental Office
-
Granum E D DDS Dental Office
-
Trautman Phillips B DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.83M
Comparable Approach
Comparable
$6.73M
Blend (final)
Blend
$5.90M
Owner & transaction history
Three Tree LLC · 3 yrs held
Three Tree LLC
since 2023
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$8.2M
+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%
$5,225,000
6.5%
$4,825,000
7%
$4,480,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,680,000
Current use
RETAIL STORES
$8,205,000
Change: +7% · Conversion: Easy
MEDICAL BUILDING
$7,245,000
Change: -6% · Conversion: Easy
WAREHOUSE, STORAGE
$6,690,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$5.90M
Range $5.31M – $6.48M · ±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
$53,289
Tax year 2024
Assessed value
$5,373,000
Assessed 2024
Previous assessed
$5,373,000
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,975,800
Assessed improvement
$3,397,200
Land market value
$1,975,800
Improvement market value
$3,397,200
Total market value
$5,373,000
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
2000
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
2
Units
1
Total area
26,400 SF
Lot
2.21 ac (96,268 SF)
APN
6020120023
UPID
US90-2739863
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
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
COMMERCIAL (GENERAL) Current
Est. value
$7.7M
RETAIL STORES
Est. value
$8.2M
MEDICAL BUILDING
Est. value
$7.2M
WAREHOUSE, STORAGE
Est. value
$6.7M
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
2000
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
2
Units
1
Lot
2.21 ac
Current owner
From public records · entity-resolved
Three Tree LLC
Entity
Mailing address
16703 32ND AVE SW, BURIEN, WA 98166-3105
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 14, 2023
—
Three Tree LLC
—
Deed
related
$100,000 · Us Bank NA
Mar 29, 2022
—
Three Tree LLC
—
Deed
related
$3,975,246 · Us Bank NA
Oct 29, 2019
—
Three Tree LLC
—
Deed
related
$4,250,000 · Banner Bk
Aug 23, 2017
—
Three Tree LLC
—
Deed
related
$100,000 · Banner Bank
—
—
Three Tree LLC
—
Deed Of Trust
related
$4,250,000 · Banner Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 702 Hl Park Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
