2929 5th Ave NE, Puyallup, WA 98372

FULLY STABILIZED ASSET

This 100% leased office and healthcare property offers investors a reliable

income stream supported by long-term tenancy and strong fundamentals. Kids

at Play Therapy has occupied the building for nearly 15 years and is expanding

operations, executing two new five-year leases for both the clinic and daycare

components upon closing. Movement Mortgage has also been a long-term

tenant in the building and has consistently renewed on shorter-term leases,

providing strong visibility into future renewal potential.

OWNER-USER OPPORTUNITY

The property presents an attractive opportunity for an owner-user seeking

high-quality space in a low-vacancy suburban market. The ±1,736 square foot

suite occupied by Movement Mortgage features strong street visibility and a

functional, move-in-ready layout, including five to six private offices, a large

conference room, in-suite restrooms, and a dedicated break room. With the

tenant on a short-term lease and no renewal options, an owner-user may have

the ability to occupy this space in the near term while benefiting from stable

income from the healthcare tenancy.

INCREDIBLE RETURNS

At a purchase price of $2,800,000, the property offers an attractive 7.44%

cap rate, delivering strong in-place cash flow from day one. Long-term

leases provide income stability, while near-term leasing flexibility within the

professional office suite creates optionality and upside throughout the hold

period.

SUBURBAN ASSETS PERFORMING AT THE HIGHEST DEGREE

Located in the Puyallup sub-market, one of the lowest-vacancy office markets

in the South Puget Sound, the property benefits from strong tenant demand

and limited competing supply. Suburban office assets in this area continue to

outperform broader market trends, supported by healthcare-driven demand,

stable employment, and minimal new construction, reinforcing the asset’s

positioning as a resilient long-term investment.