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    Key Peninsula Hwy Gig Harbor, WA 98329

    For Sale
    $849,990

    Profitable auto repair shop, high cap rate.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional opportunity presents a thriving, established auto repair business in Gig Harbor, Washington. Located on a 2.47-acre lot (107,593 sq ft) at 9707 Key Peninsula Hwy NW, 98329, this six-bay center has been successfully operating for over 17 years. The business boasts a strong financial performance, generating a Net Operating Income (NOI) of $284,484, resulting in a remarkable 33.47% capitalization rate. The asking price for the business is $849,990. The current lease is a Triple Net (NNN) agreement at $5,000 per month, negotiable with the seller. The property includes a fully stocked building, extensive inventory of tools (a detailed list is available), and a fenced area accommodating up to 50 vehicles. Additional features include dual drive-through entries and a wired security system. Financial records indicate a gross income of $1,376,161. The property was built in 2002 and has the APN 0022364007. Significant growth potential exists through extended business hours and operational enhancements. The seller is open to discussing SBA loan options. Showings are by appointment only, after 3 PM, and cannot be conducted during business hours.

    Property Features for 0 Key Peninsula Hwy

    General Information

    Property type
    Investment properties

    Building Details

    Year Built
    2002

    HighLights

    • $849,990 asking price for a thriving automotive repair business in Gig Harbor, WA.
    • NNN lease, single tenant, with a 33.47% cap rate and $284,484 NOI.
    • Located on a 2.47‑acre lot (107,593 sq ft) with a 6‑bay auto center built in 2002.
    • Includes a fully stocked building, extensive tools inventory, and fenced area for 50 cars.
    • Gross revenue of $1,376,161 and net income of $284,484.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Gig Harbor
    County
    Pierce
    State
    Washington
    Longitude
    -122.7382179
    Latitude
    47.3490935

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    FAQs

    What type of property is this?
    Investment property - Profitable auto repair shop, high cap rate.
    Where is this investment property located?
    The property is located at Key Peninsula Hwy Gig Harbor, WA.
    What is the asking price?
    The asking price for this property is $849,990.
    What are key features of this property?
    This property features: $849,990 asking price for a thriving automotive repair business in Gig Harbor, WA.; NNN lease, single tenant, with a 33.47% cap rate and $284,484 NOI.; Located on a 2.47-acre lot (107,593 sq ft) with a 6-bay auto center built in 2002.
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    Realmo Value Estimation

    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.

    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.

    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
    Key Peninsula Hwy Gig Harbor, WA 98329
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