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Property profile & analytics
OFF-MARKET
Estimated value
$2,030,000
Medical Office Space
903 40th SW Ave Puyallup, WA 98373-6505
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US90-0353079
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2021
Construction
WOOD FRAME
Total area
12,468 SF
Lot
0.51 ac (22,227 SF)
Zoning code
NC
APN
7766500020
UPID
US90-0353079
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.72M
Comparable Approach
Comparable
$1.52M
Blend (final)
Blend
$2.03M
Owner & transaction history
Buttar & Virk Holdings LLC · 20 yrs held
Buttar & Virk Holdings LLC
since 2005
7 recorded transactions
Zoning & alternative use
NC · 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%
$2,945,000
6.5%
$2,720,000
7%
$2,525,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,160,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$2.03M
Range $1.83M – $2.23M · ±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
$163 / 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
$35,523
Tax year 2024
Assessed value
$3,571,400
Assessed 2024
Previous assessed
$3,571,400
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$682,400
Assessed improvement
$2,889,000
Land market value
$682,400
Improvement market value
$2,889,000
Total market value
$3,571,400
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
2021
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
3
Total area
12,468 SF
Lot
0.51 ac (22,227 SF)
Zoning code
NC
APN
7766500020
UPID
US90-0353079
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
NC · Puyallup, WAZoning NC · permitted uses
NC · Puyallup, WA
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
WAREHOUSE, STORAGE
Est. value
$3.2M
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
2021
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
3
Lot
0.51 ac
Current owner
From public records · entity-resolved
Buttar & Virk Holdings LLC
Entity
Mailing address
903 40TH AVE SW, PUYALLUP, WA 98373-6505
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 2023
—
Virk Holding LLC
—
Deed
related
$1,303,592 · First Interstate Bank
Jan 9, 2023
—
Buttar And Virk Holding LLC
—
Deed
related
$300,000 · First Interstate Bank
Jul 9, 2021
—
Buttar And Virk Holding LLC
—
Deed
related
$2,600,000 · First Interstate Bank
Dec 8, 2005
$255,555
Buttar & Virk Holdings LLC
Riley,william J & Althea V
Warranty Deed
$920,000 · Bank Of America
Dec 8, 2005
—
Thomas Folk
Ninety Fourth Avenue Ptshp
Quit Claim Deed
related
—
Dec 8, 2005
$894,444
Buttar & Virk Holdings LLC
Folk,thomas
Warranty Deed
—
Oct 27, 1989
$975,000
Fourth Avenue Ptnrshp Eta Ninety
Unknown
Grant Deed
$760,500 · Seller
—
—
Ninety Fourth Avenue Ptshp
—
Deed Of Trust
related
$431,250 · Key Bank Of Washington
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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