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Property profile & analytics
OFF-MARKET
Estimated value
$1,950,000
Commercial land
2319 Pt Fosdick NW Dr Gig Harbor, WA 98335-7914
Individually Owned
16-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-0947612
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1965
Construction
WOOD FRAME
Total area
8,212 SF
Lot
209.24 ac (9,114,494 SF)
Zoning code
EFRAN
APN
221291050
UPID
US90-0947612
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Peninsula Pet Lodge Kennel & Boarding Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.50M
Comparable Approach
Comparable
$1.75M
Blend (final)
Blend
$1.95M
Owner & transaction history
Pierce Cnty · 16 yrs held
Pierce Cnty
since 2010
2 recorded transactions
Zoning & alternative use
EFRAN · Gig Harbor, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.0M
+13.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Gig Harbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gig Harbor submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,625,000
6.5%
$1,500,000
7%
$1,395,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,650,000
Current use
AUTO REPAIR, GARAGE
$3,015,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$2,515,000
Change: -5% · Conversion: Easy
WAREHOUSE, STORAGE
$2,450,000
Change: -8% · Conversion: Difficult
MEDICAL BUILDING
$2,255,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$1.95M
Range $1.76M – $2.15M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$237 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$1,866
Tax year 2024
Assessed value
$11,602,300
Assessed 2024
Previous assessed
$11,602,300
+0.0% YoY
Effective rate
0.02%
On assessed value
Assessed land
$11,602,300
Land market value
$11,602,300
Total market value
$11,602,300
Applied tax rate
472.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1965
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
8,212 SF
Lot
209.24 ac (9,114,494 SF)
Zoning code
EFRAN
APN
221291050
UPID
US90-0947612
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
EFRAN · Gig Harbor, WAZoning EFRAN · permitted uses
EFRAN · Gig Harbor, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$3.0M
RETAIL STORES
Est. value
$2.5M
WAREHOUSE, STORAGE
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.3M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1965
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
209.24 ac
Current owner
From public records · entity-resolved
Pierce Cnty
Individual
Free & Clear · 16 yrs held
Mailing address
2702 S 42ND ST STE #109, TACOMA, WA 98409-7315
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 21, 2010
—
Pierce Cnty
Peninsula Metropolitan Park Di
Grant Deed
related
—
Dec 31, 2008
$3,000,000
Pierce Cnty
City Of Tacoma
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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