Single-Level
For Sale
$730,000
6314 Sehmel Dr NW, Gig Harbor, WA 98332
Two residential units support owner occupancy, multigenerational living, or rental income.
Property Size2,356 SF
Price / SF$309.85
Days on Market45
Property Features for 6314 Sehmel Dr NW
General Information
Standard status
Active
Size
2,356 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1992
Stories
1
Listing Agency:
Coldwell Banker Bain
(360) 918-6497
Listed By:
Chris Murphy · License #111144
(360) 918-6497
Source:
Pugetsoundrealestate
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 29 at 8:51AM
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 Coldwell Banker Bain
Investment Insights
Based on property information with market context.
This 2,356-square-foot duplex contains two single-level residential units and was built in 1992. The configuration supports several ownership approaches, including occupying one residence while renting the other, housing multiple generations, or leasing both units.
The property is located near Gig Harbor North, with shopping, dining, medical services, Costco, the YMCA, and Highway 16 nearby. Sehmel Homestead Park is also close, offering walking trails, sports fields, tennis courts, and playgrounds. Downtown Gig Harbor, waterfront amenities, marinas, coffee shops, farmers markets, and additional recreational destinations are within the surrounding area.
The property is located near Gig Harbor North, with shopping, dining, medical services, Costco, the YMCA, and Highway 16 nearby. Sehmel Homestead Park is also close, offering walking trails, sports fields, tennis courts, and playgrounds. Downtown Gig Harbor, waterfront amenities, marinas, coffee shops, farmers markets, and additional recreational destinations are within the surrounding area.
Key Highlights
- 2,356‑square‑foot duplex with two residential units
- Single‑level layout in each unit
- Built in 1992
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,911
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$618,220
$618.2K
Cap Rate 7%
$441,586
$441.6K
Cap Rate 9%
$343,456
$343.5K
Market Conditions
NOI Build-Up for 2,356 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$47.5K $20.16/SF
− Vacancy
−$3.3K −$1.42/SF
EGI
$44.2K $18.74/SF
− OpEx
−$13.2K −$5.62/SF
NOI
$30.9K $13.12/SF
Area
Pierce County, WA
Vacancy
7.03%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$618,220
Cap Rate 7%
$441,586
Cap Rate 9%
$343,456
Alternative Uses
Best Use
Multifamily LT 5
$441.6K
$386.4K – $515.2K
NOI $30,911 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$407.3K
$356.4K – $475.2K
NOI $28,510 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$636.3K
$556.8K – $742.4K
NOI $44,543 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
Explore this area
Business Placement
Demographics for 98332, WA
20,704
Population
7,897
Households
2.6
Avg Household Size
47
Median Age
52%
College-Educated
97%
High-School Grad
20.7 sq mi
ZIP Area
1,000
Density / Sq Mi
$122,827
Median Household Income
$64,286
Median Earnings
$2,373
Median Rent
$686,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units support owner occupancy, multigenerational living, or rental income.
Where is this duplex located?
The property is located at 6314 Sehmel Dr NW Gig Harbor, WA.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: 2,356‑square‑foot duplex with two residential units; Single‑level layout in each unit; Built in 1992
