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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2005 34th NW Ave Gig Harbor, WA 98335

    • Warehouses
    • 2,016 SF
    • 1.77 lot acres
    OFF-MARKET
    Value Estimations
    $330,000
    Show details
    Cap Rate Potential
    4.2%
    Warehouses
    Location Intelligence
    Property ID
    US90-1328923
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Harbor Storage / Self-Storage Facility

    Property Details for 2005 34th NW Ave

    Year built
    1979
    Construction
    STEEL FRAME
    Lot size
    1.77 lot acres
    Property size
    2,016 SF
    Zone code
    RSR
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    221293091
    APU
    221293091

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $450,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $315,000
      6.5%
      $290,000
      7%
      $270,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $290,000
      Market price range: $85.1k - $290k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $600,000
      Current use
      AUTO REPAIR, GARAGE
      $740,000
      Change: +23% Conversion: Easy
      COMMERCIAL (GENERAL)
      $650,000
      Change: +8% Conversion: Difficult
      RETAIL STORES
      $615,000
      Change: +3% Conversion: Moderate
      MEDICAL BUILDING
      $555,000
      Change: -8% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gig Harbor
    County
    Pierce
    State
    Washington
    Longitude
    -122.584
    Latitude
    47.2766
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $19,086
    $561,000
    $1,230,900
    $1,791,900
    -
    $561,000
    $1,230,900
    $1,791,900

    Comparable in this City

    • Value Estimation
      $1,105,000
      7,680 SF

      7701 40th St NW Ct

      MINI-WAREHOUSE, STORAGE • 7,680 SF
      7701 40th St NW Ct, Gig Harbor, WA 98335
      View Details
    • Value Estimation
      $1,035,000
      7,200 SF

      2112 36th NW St

      MINI-WAREHOUSE, STORAGE • 7,200 SF
      2112 36th NW St, Gig Harbor, WA 98335-7908
      View Details
    • Value Estimation
      $230,000
      3,260 SF

      2105 34th NW Ave

      MINI-WAREHOUSE, STORAGE • 3,260 SF
      2105 34th NW Ave, Gig Harbor, WA 98335-7728
      View Details
    • Value Estimation
      $770,000
      25,550 SF

      3711 Hunt St

      MINI-WAREHOUSE, STORAGE • 25,550 SF
      3711 Hunt St, Gig Harbor, WA 98335-8228
      View Details
    • Value Estimation
      $280,000
      1,884 SF

      4502 Rosedale St

      MINI-WAREHOUSE, STORAGE • 1,884 SF
      4502 Rosedale St, Gig Harbor, WA 98335-1838
      View Details
    • Value Estimation
      $960,000
      6,720 SF

      1903 Pt Fosdick NW Dr

      MINI-WAREHOUSE, STORAGE • 6,720 SF
      1903 Pt Fosdick NW Dr, Gig Harbor, WA 98335-7917
      View Details

    Similar Nearby for Sale

    • $2,250,000

      Gig Harbor Commercial Land Available

      2.75 acres with shop and immediate highway access.
      4542 Neel Ct, Gig Harbor, WA 98335
      View Details
    • $93,400

      Waterfront Recreational Property in Rosedale

      Recreational waterfront property near Gig Harbor, explore waterways by boat.
      7930 Ray Nash Dr, Gig Harbor, WA 98335
      View Details
    • $160,000

      Residential Land in Gig Harbor

      Land parcel for residential development with convenient Gig Harbor location.
      7719 Rosedale St, Gig Harbor, WA 98335
      View Details
    • $398,000

      Residential Lot in Gig Harbor

      Prime Wallochet location, geological assessment completed, septic design submitted.
      4610 Hemlock Ln, Gig Harbor, WA 98335
      View Details
    • $1,490,000
      3,872 SF

      Gig Harbor Commercial Building

      Prime Gig Harbor office building, multi-tenant potential.
      5315 57Th St, Gig Harbor, WA 98335
      View Details
    • $650,000

      Luxury Enclave Building Site

      1.25 acre build-ready site in gated community.
      3711 101St Avenue Ct, Gig Harbor, WA 98335
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      196 SF

      Gig Harbor Office & Warehouse Space

      Versatile Gig Harbor commercial property.
      5717 Wollochet Dr, Gig Harbor, WA 98335
      View Details
    • $16 SF/Yr
      5,890 SF

      Gig Harbor Flex/Industrial Space

      Flex/industrial space available for lease in Gig Harbor, WA.
      6521 43Rd Avenue Ct NW, Gig Harbor, WA 98335
      View Details
    • $22 SF/Yr
      3,223 SF

      Gig Harbor Office Suites Available

      Class A Office Space, Hwy 16 Access
      6625 Wagner Way, Gig Harbor, WA 98335
      View Details
    • $17 SF/Yr
      10,552 SF

      Soundview Drive Medical Office Space

      Prime Medical Office Suites Available in Tacoma
      5801 Soundview Dr, Gig Harbor, WA 98335
      View Details
    • $44 SF/Yr
      184,376 SF

      Gig Harbor Retail Center Opportunity

      Prime Gig Harbor location, 3,944 sq ft available.
      5118 Point Fosdick Dr, Gig Harbor, WA 98335
      View Details
    • $25 SF/Yr
      4,211 SF

      Move-In Ready Professional Office Space

      Professional office space available for rent in Gig Harbor, WA.
      5403 Olympic Dr NW, Gig Harbor, WA 98335
      View Details
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    2005 34th NW Ave
    Gig Harbor, WA 98335
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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