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Property profile & analytics
OFF-MARKET
Estimated value
$7,820,000
Auto shops
3248 54th St NW Ct Gig Harbor, WA 98335
Entity Owned
25-yr Hold
Free & Clear
Property ID
US90-1597373
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,826 SF
Lot
2.75 ac (119,659 SF)
Zoning code
B-2
APN
221177053
UPID
US90-1597373
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.90M
Blend (final)
Blend
$7.82M
Owner & transaction history
Sfp-b LP · 25 yrs held
Sfp-b LP
since 2001
1 recorded transaction
Zoning & alternative use
B-2 · 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abutting Harborview Drive and North Harborview Drive and within the View Basin neighborhood design area. 17.72.070 Repealed. 17.72.075 Special provisions for existing buildings…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
General Business District
General category
COMMERCIAL
Zone area
220.78 ac
Top alternative use upside
Restaurant
$6.8M
+25.4%
Neighborhood: shopping center
$6.3M
+16.0%
Industrial (general)
$6.3M
+14.9%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$5,450,000
Current use
RESTAURANT
$6,830,000
Change: +25% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,320,000
Change: +16% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$6,260,000
Change: +15% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,790,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$7.82M
Range $7.04M – $8.60M · ±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
$527 / 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
$41,869
Tax year 2024
Assessed value
$4,941,900
Assessed 2024
Previous assessed
$4,941,900
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$2,806,100
Assessed improvement
$2,135,800
Land market value
$2,806,100
Improvement market value
$2,135,800
Total market value
$4,941,900
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
1
Total area
14,826 SF
Lot
2.75 ac (119,659 SF)
Zoning code
B-2
APN
221177053
UPID
US90-1597373
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
B-2 · Gig Harbor, WAZoning B-2 · permitted uses
B-2 · 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
General Business District
General category
COMMERCIAL
Zone area
220.78 ac
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$5.5M
RESTAURANT
Est. value
$6.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.3M
INDUSTRIAL (GENERAL)
Est. value
$6.3M
COMMERCIAL (GENERAL)
Est. value
$4.8M
AUTO REPAIR, GARAGE Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
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
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
1
Lot
2.75 ac
Current owner
From public records · entity-resolved
Sfp-b LP
Entity
Free & Clear · 25 yrs held
Mailing address
PO BOX 5350, BEND, OR 97708-5350
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 5, 2001
$1,000,000
Sfp-b LP
Quality Ventures LP
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.
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