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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Retail space
3118 Harborview Dr Gig Harbor, WA 98335-2124
Entity Owned
1-yr Hold
Free & Clear
Property ID
US90-3357846
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1927
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,270 SF
Lot
0.12 ac (5,072 SF)
Zoning code
DB
APN
221082227
UPID
US90-3357846
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
-
Heritage Distilling Company Brewery & Distillery Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$440k
CAP Approach
CAP
$435k
Comparable Approach
Comparable
$698k
Blend (final)
Blend
$635k
Owner & transaction history
Jerm Enterprises LLC · 1 yrs held
Jerm Enterprises LLC
since 2025
7 recorded transactions
Zoning & alternative use
DB · Gig Harbor, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Joint use of required parking spaces for the downtown business (DB), waterfront commercial (WC), general business (B-2), commercial (C-1) and residential and business (RB-1) districts abutting Harborview Drive and North Harborview Drive and within the View Basin neighborhood design area. 17.72.070 Repealed. 17.72.075 Special provisions for existing buildings…
Zone name
Downtown Business District
General category
COMMERCIAL
Zone area
30.37 ac
Top alternative use upside
Commercial (general)
$1.1M
+5.5%
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
$440,000
CAP Approach
CAP Return
Estimation
6%
$470,000
6.5%
$435,000
7%
$405,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,000,000
Current use
COMMERCIAL (GENERAL)
$1,055,000
Change: +5% · Conversion: Easy
WAREHOUSE, STORAGE
$975,000
Change: -3% · Conversion: Difficult
MEDICAL BUILDING
$900,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$194 / 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
$6,996
Tax year 2024
Assessed value
$824,600
Assessed 2024
Previous assessed
$824,600
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$477,600
Assessed improvement
$347,000
Land market value
$477,600
Improvement market value
$347,000
Total market value
$824,600
Applied tax rate
75.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1927
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
3,270 SF
Lot
0.12 ac (5,072 SF)
Zoning code
DB
APN
221082227
UPID
US90-3357846
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
DB · Gig Harbor, WAZoning DB · permitted uses
DB · Gig Harbor, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Joint use of required parking spaces for the downtown business (DB), waterfront commercial (WC), general business (B-2), commercial (C-1) and residential and business (RB-1) districts abutting Harborview Drive and North Harborview Drive and within the View Basin neighborhood design area. 17.72.070 Repealed. 17.72.075 Special provisions for existing buildings with existing nonresidential uses in the downtown business (DB), waterfront commercial (WC), waterfront Millville (WM), general business (B-2), commercial (C-1) and residential and business (RB-1) districts abutting Harborview Drive and North Harborview Drive and within the View Basin neighborhood design area. 17.72.080 Joint use of required parking spaces for mixed use developments within the RB-2, B-1, B-2, C-1, DB, PCD-C, PCD-BP, PCD-NB, ED and MUD zoning districts. 17.72.090 Electric vehicle charging station spaces. Your Selections What’s Nearby Title 16 17 18
Zone name
Downtown Business District
General category
COMMERCIAL
Zone area
30.37 ac
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$975,000
MEDICAL BUILDING
Est. value
$900,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1927
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Jerm Enterprises LLC
Entity
Free & Clear · 1 yrs held
Mailing address
6202 24TH ST NW, GIG HARBOR, WA 98335-7505
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2025
—
Jerm Enterprises LLC
3118 Jem LLC
Bargain & Sale Deed
—
Jun 26, 2017
—
3118 Jem LLC
—
Deed
related
$234,323 · Columbia St Bk
May 8, 2017
—
3118 Jem LLC
—
Deed
related
$234,323 · Columbia St Bk
Mar 11, 2016
—
3118 Jem LLC
Mitton,joan E
Warranty Deed
—
Mar 15, 2007
$337,500
Joan E Mitton
Jerm Ents LLC
Warranty Deed
—
Feb 12, 2003
—
Jerm Enterprises LLC
Mitton,robert W
Quit Claim Deed
related
—
—
—
Joan E Mitton
—
Deed Of Trust
related
$350,000 · Columbia State Bank
—
—
3118 Jem LLC
—
Loan Modification
related
$234,323 · Columbia St Bk
—
—
3118 Jem LLC
—
Loan Modification
related
$234,323 · Columbia St Bk
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.
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