Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3117 Harborview Dr Gig Harbor, WA 98335-2124

    • Retail space
    • 1,664 SF
    • 2.60 lot acres
    OFF-MARKET
    Last Sale
    Nov 01, 2021
    $11,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1496081
    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

    • The Club @ the Boatyard / Hotel & Motel / Resort
    • Boatsetter- Gig Harbor / Boat Rental Service
    • Sound Boat Tours / (Bike/Boat/Book/etc) Store
    • Gig Harbor Marina & Boatyard / Marina
    • Marketplace Grille in the Boat Yard Trolley / Restaurant

    Property Details for 3117 Harborview Dr

    Year built
    1925
    Construction
    WOOD FRAME
    Lot size
    2.60 lot acres
    Property size
    1,664 SF
    Zone code
    WC
    Property type
    Retail space
    APN
    221082021
    APU
    221082021

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Gig Harbor
    County
    Pierce
    State
    Washington
    Longitude
    -122.58
    Latitude
    47.3303
    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
    $60,240
    $2,883,400
    $4,227,400
    $7,110,800
    -
    $2,883,400
    $4,227,400
    $7,110,800

    Comparable in this City

    • Value Estimation
      $1,695,000
      7,924 SF

      15614 Meridian E

      RETAIL STORES (PERSONAL SERVICES) • 7,924 SF
      15614 Meridian E, Gig Harbor, WA 98335
      View Details
    • Value Estimation
      $1,935,000
      8,976 SF

      5275 Olympic Dr

      RETAIL STORES (PERSONAL SERVICES) • 8,976 SF
      5275 Olympic Dr, Gig Harbor, WA 98335-2306
      View Details
    • Value Estimation by Request
      1,440 SF

      6909 Artondale NW Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,440 SF
      6909 Artondale NW Dr, Gig Harbor, WA 98335-5619
      View Details
    • Value Estimation by Request
      2,860 SF

      612 To 614th Regents Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,860 SF
      612 To 614th Regents Blvd, Gig Harbor, WA 98335
      View Details
    • Value Estimation
      $850,000
      4,400 SF

      6405 43rd Ave Ct

      RETAIL STORES (PERSONAL SERVICES) • 4,400 SF
      6405 43rd Ave Ct, Gig Harbor, WA 98335-8336
      View Details
    • Value Estimation
      $930,000
      4,955 SF

      3716 56th St

      RETAIL STORES (PERSONAL SERVICES) • 4,955 SF
      3716 56th St, Gig Harbor, WA 98335-8240
      View Details

    Similar Nearby for Sale

    • $895,000
      1,368 SF

      Gig Harbor Storefront Opportunity

      Downtown retail, two buildings, prime location.
      3126 Harborview Dr, 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
    • $2,250,000

      2.75 Acre Commercial Property

      2.75 acres with shop and immediate highway access for sale.
      4542 Neel Ct, Gig Harbor, WA 98335
      View Details
    • $1,490,000

      Two-Story Building with Parking

      Two-story building with parking, ideal for owner-user or investment.
      5315 NW Gig Harbor Dr, Gig Harbor, WA 98335
      View Details
    • $800,000
      2,380 SF

      Soundview Drive Office Investment

      Well-maintained 2,380 SF office building with 6 units.
      5800 Soundview Dr, Gig Harbor, WA 98335
      View Details

    Similar Nearby for Lease

    • $44 SF/Yr
      3,944 SF

      Retail Space in Gig Harbor

      Retail space available for lease in Gig Harbor, WA.
      5114-5502 Point Fosdick Dr NW, Gig Harbor, WA 98335
      View Details
    • $28 SF/Yr
      1,550 SF

      Gig Harbor Retail Space Available

      Open floor plan retail space in Gig Harbor for rent.
      5125 Olympic Dr NW, Gig Harbor, WA 98335
      View Details
    • $34 SF/Yr
      5,855 SF

      Retail Building with High Visibility

      Standalone retail building with ample parking and excellent access.
      6876-6978 Kimball Dr, Gig Harbor, WA 98335
      View Details
    • $20 SF/Yr
      3,800 SF

      Retail Space with Highway Access

      Retail space with excellent highway access and ample parking.
      14122-14228 92Nd Ave NW, Gig Harbor, WA 98335
      View Details
    • $25 SF/Yr
      3,711 SF

      Gig Harbor Retail Space Available

      Retail space in professional business park setting, Gig Harbor.
      5401 32Nd Ave NW, Gig Harbor, WA 98335
      View Details
    • Contact for pricing
      1,399 SF

      Retail Space in Gig Harbor

      Retail space available for lease in Gig Harbor, WA.
      4819 Point Fosdick Dr, Gig Harbor, WA 98335
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3117 Harborview Dr
    Gig Harbor, WA 98335-2124
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.