Gig Harbor Commercial Land
For Sale
$849,000
7817 Skansie Ave, Gig Harbor, WA 98335
Commercial land with reconstructed buildings in Gig Harbor, WA.
Property Size2,040 SF
Price / SF$416.18
Days on Market961
Property Features for 7817 Skansie Ave
General Information
Standard status
Active
Size
2,040 SF
Building Details
Year Built
1978
Listing Agency:
FIRST WESTERN PROPERTIES - TACOMA, INC.
Listed By:
LISA TALLMAN
(253) 471-5504
Source:
Corcoran
Added: Mar 6, 2024
Changed: Mar 16
Last Checked: Mar 16 at 9:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of FIRST WESTERN PROPERTIES - TACOMA, INC.
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Investment Insights
Based on property information with market context.
This property offers an owner/user opportunity with a purchase price of $849,000. It features 0.440 acres, which is approximately 19,166 square feet. The parcel number is 0221071017. The zoning is City of Gig Harbor-RB-2. There are two quality reconstructed buildings on the property, built in 2008. One building is a 600 square foot studio, and the other is a 1,440 square foot office/assembly building, making for a total of 2,040 square feet of building space. Power is provided by Peninsula Light Company, and water and sewer services are provided by the City of Gig Harbor.
Key Highlights
- Two quality re‑constructed buildings (2008)
- Sizable 0.440 acre (19,166 +/- SF) lot
- Zoned City of Gig Harbor‑RB‑2
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,895
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,900
$577.9K
Cap Rate 7%
$412,786
$412.8K
Cap Rate 9%
$321,056
$321.1K
Market Conditions
NOI Build-Up for 2,040 SF
Gross rent
$44.8K $21.96/SF
− Vacancy
−$6.3K −$3.07/SF
EGI
$38.5K $18.89/SF
− OpEx
−$9.6K −$4.72/SF
NOI
$28.9K $14.16/SF
Area
Pierce County, WA
Vacancy
14.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,900
Cap Rate 7%
$412,786
Cap Rate 9%
$321,056
Alternative Uses
Best Use
Office B
$412.8K
$361.2K – $481.6K
NOI $28,895 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$551.0K
$482.1K – $642.8K
NOI $38,569 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 98335, WA
27,307
Population
11,457
Households
2.4
Avg Household Size
47
Median Age
52%
College-Educated
97%
High-School Grad
22.1 sq mi
ZIP Area
1,236
Density / Sq Mi
$130,304
Median Household Income
$65,089
Median Earnings
$1,971
Median Rent
$736,400
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Commercial land with reconstructed buildings in Gig Harbor, WA.
Where is this office building located?
The property is located at 7817 Skansie Ave Gig Harbor, WA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two quality re‑constructed buildings (2008); Sizable 0.440 acre (19,166 +/- SF) lot; Zoned City of Gig Harbor‑RB‑2
