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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    903 40 Ave SW Puyallup, WA

    • Medical offices
    • 12,468 SF
    • 0.51 lot acres
    For Lease
    View listing
    $21 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0353079
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical offices

    Property Details for 903 40 Ave SW

    Year built
    2021
    Construction
    WOOD FRAME
    Lot size
    0.51 lot acres
    Property size
    12,468 SF
    Zone code
    NC
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    7766500020
    APU
    7766500020

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,945,000
      6.5%
      $2,720,000
      7%
      $2,525,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,523,000
      Market price range: $978k - $2.47M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $3,160,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Puyallup
    County
    Pierce
    State
    Washington
    Longitude
    -122.304
    Latitude
    47.1541
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $35,523
    $682,400
    $2,889,000
    $3,571,400
    -
    $682,400
    $2,889,000
    $3,571,400

    Comparable in this City

    • Value Estimation
      $2,225,000
      12,045 SF

      802 30th SW Ave

      MEDICAL BUILDING • 12,045 SF
      802 30th SW Ave, Puyallup, WA 98373-2755
      View Details
    • Value Estimation
      $4,595,000
      7,377 SF

      12005 Meridian E

      MEDICAL BUILDING • 7,377 SF
      12005 Meridian E, Puyallup, WA 98373-3423
      View Details
    • Value Estimation by Request
      15,006 SF

      11019 Cyn E Rd

      MEDICAL BUILDING • 15,006 SF
      11019 Cyn E Rd, Puyallup, WA 98373-3001
      View Details
    • Value Estimation
      $690,000
      3,948 SF

      2622 Meridian

      MEDICAL BUILDING • 3,948 SF
      2622 Meridian, Puyallup, WA 98373-1500
      View Details
    • Value Estimation
      $695,000
      3,700 SF

      702 30th SW Ave

      MEDICAL BUILDING • 3,700 SF
      702 30th SW Ave, Puyallup, WA 98373-2756
      View Details
    • Value Estimation by Request
      2,072 SF

      12904 94th E Ave

      MEDICAL BUILDING • 2,072 SF
      12904 94th E Ave, Puyallup, WA 98373-5538
      View Details

    Similar Nearby for Sale

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    • $975,000

      Land For Sale Puyallup

      Land available for sale in Puyallup, Washington.
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    • $1,900,000
      10,586 SF

      Warehouse/Office Buildings with Retail Exposure

      Two standalone buildings with fenced yard and retail exposure.
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      View Details
    • $640,000
      99,317 SF

      Puyallup Land with Mixed-Use Zoning

      Land with mixed-use zoning in an urban center.
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    Similar Nearby for Lease

    • $25 SF/Yr
      756 SF

      Puyallup Office Suite For Rent

      756 sq ft office suite in Puyallup's Evergreen Professional Center.
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      View Details
    • $17 SF/Yr
      992 SF

      Puyallup Office Space Available

      992 square feet of office space for lease.
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      View Details
    • $800 /Mo
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      Private Office Space For Lease

      Private office space for lease in South Hill Puyallup.
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    • $22 SF/Yr
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      Puyallup Retail/Office Space Available

      3,557 SF retail/office space in prime location for lease.
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      Puyallup Office Space For Rent

      Office space available for lease in Puyallup, Washington.
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      View Details
    • $22 SF/Yr
      1,205 SF

      Puyallup Office or Retail Space

      Versatile commercial space in Puyallup, ideal for office or retail.
      3806 9Th St SW, Puyallup, WA 98373
      View Details
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    903 40 Ave SW
    Puyallup, WA
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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