Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Medical Office Space
2909 M St Gig Harbor, WA 98335
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0688353
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1981
Construction
WOOD FRAME
Total area
3,336 SF
Lot
0.3 ac (13,000 SF)
Zoning code
M1
APN
6550000340
UPID
US90-0688353
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$725k
CAP Approach
CAP
$730k
Comparable Approach
Comparable
$598k
Blend (final)
Blend
$725k
Owner & transaction history
Rainier Management And Consulting L · 2 yrs held
Rainier Management And Consulting L
since 2024
Last sale
$725,000
4 recorded transactions
Zoning & alternative use
M1 · Gig Harbor, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+17.7%
Retail stores
$1.0M
+11.6%
Warehouse, storage
$995,000
+8.7%
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
$725,000
ML approach
$725,000
CAP Approach
CAP Return
Estimation
6%
$790,000
6.5%
$730,000
7%
$675,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$915,000
Current use
COMMERCIAL (GENERAL)
$1,075,000
Change: +18% · Conversion: Easy
RETAIL STORES
$1,020,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$995,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±10% · vs last sale $725k (May 9 2024)
Last sale anchor
$725k
May 9 2024
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
$217 / 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
$6,479
Tax year 2024
Assessed value
$582,300
Assessed 2024
Previous assessed
$582,300
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$209,900
Assessed improvement
$372,400
Land market value
$209,900
Improvement market value
$372,400
Total market value
$582,300
Applied tax rate
5.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1981
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
1
Total area
3,336 SF
Lot
0.3 ac (13,000 SF)
Zoning code
M1
APN
6550000340
UPID
US90-0688353
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
M1 · Gig Harbor, WAZoning M1 · permitted uses
M1 · 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
MEDICAL BUILDING Current
Est. value
$915,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$995,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
1981
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Rainier Management And Consulting L
Entity
Mailing address
34604 56TH CT S, ALGONA, WA 98001-2340
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 9, 2024
$725,000
Rainier Management And Consulting L
Hwd LLC
Warranty Deed
$375,000 · Hwd LLC
Mar 28, 2002
$389,739
Hwd LLC
Peckenpaugh,charles I & Dorothy A
Grant Deed
$305,000 · Charles I & Dorothy A Peckenpaugh
—
—
Hwd LLC
—
Deed Of Trust
related
$675,000 · Pierce Commercial Bank
—
—
Hwd LLC
—
Deed Of Trust
related
$50,000 · Pierce Commercial Bank
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2909 M St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
