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Property profile & analytics
OFF-MARKET
Estimated value
$1,825,000
Office Spaces
3413 56th St, Gig Harbor, WA 98335-8341
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0866419
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1997
Construction
WOOD FRAME
Total area
5,510 SF
Lot
0.72 ac (31,500 SF)
Zoning code
RB-2
APN
221172117
UPID
US90-0866419
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
-
Innovative Smiles Dental Office
-
US Sleep Diagnostics Medical Clinic
-
Chad Alvarado - Thrivent Financial Advisor
-
Joe Davis - Thrivent Financial Advisor
-
Curriculum Matrix High School Vocational School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.80M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.30M
Blend (final)
Blend
$1.83M
Owner & transaction history
Grimm Properties LLC · 3 yrs held
Grimm Properties LLC
since 2022
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
RB-2 · Gig Harbor, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.5M
+42.6%
Neighborhood: shopping center
$2.4M
+32.0%
Industrial (general)
$2.3M
+30.7%
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
$1,810,000
ML approach
$1,795,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,780,000
Current use
RESTAURANT
$2,540,000
Change: +43% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,350,000
Change: +32% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,325,000
Change: +31% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,025,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$1,685,000
Change: -5% · Conversion: Easy
WAREHOUSE, STORAGE
$1,645,000
Change: -8% · Conversion: Difficult
MEDICAL BUILDING
$1,515,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$1.83M
Range $1.64M – $2.01M · ±10% · vs last sale $1.85M (Dec 1 2022)
Last sale anchor
$1.85M
Dec 1 2022
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
$331 / 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
$15,095
Tax year 2024
Assessed value
$1,780,800
Assessed 2024
Previous assessed
$1,780,800
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$755,600
Assessed improvement
$1,025,200
Land market value
$755,600
Improvement market value
$1,025,200
Total market value
$1,780,800
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1997
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
1
Bathrooms
1
Total area
5,510 SF
Lot
0.72 ac (31,500 SF)
Zoning code
RB-2
APN
221172117
UPID
US90-0866419
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
RB-2 · Gig Harbor, WA
Zoning RB-2 · permitted uses
RB-2 · Gig Harbor, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gig Harbor. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.8M
RESTAURANT
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
INDUSTRIAL (GENERAL)
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RETAIL STORES
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1997
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.72 ac
Current owner
From public records · entity-resolved
Grimm Properties LLC
Entity
Mailing address
2515 8TH ST NW, GIG HARBOR, WA 98335-7753
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2022
$1,850,000
Grimm Properties LLC
Gig Harbor Rentals 2 LLC
Warranty Deed
$2,310,000 · Timberland Bank
Oct 15, 2021
$1,660,000
Gig Harbor Rentals 2 LLC
3413 56th Street Nw LLC
Warranty Deed
$1,245,000 · 3413 56th St Nw LLC
Nov 27, 2017
—
3413 56th St Nw LLC
—
Deed
related
$250,000 · Columbia State Bank
Jan 11, 2008
—
3413 56th Street LLC
Amherst Reverse Exchange Svcs
Warranty Deed
—
Nov 30, 2007
$1,425,000
Amherst Reverse Exchange Svcs
Jowers,julian D & Donna M
Warranty Deed
—
Jun 24, 1993
$145,000
Marvin J Pasquan
Unknown
Grant Deed
—
—
—
Julian D Jowers
—
Deed Of Trust
related
$25,000 · Individual
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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