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Property profile & analytics
FOR LEASE
Office Spaces
4221 Harborview Dr, Gig Harbor, WA 98332
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1627665
No photos on file
For Lease
$2,000/Mo
4221 Harborview Dr, Gig Harbor, WA 98332
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2006
Construction
WOOD FRAME
Total area
3,600 SF
Lot
0.28 ac (12,197 SF)
Zoning code
RB-1
APN
221061084
UPID
US90-1627665
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
-
Jenny Ostenson Real Estate Agency
-
Strategic Wealth Advisors LLC Financial Advisor
-
Kathy Swenson & Linda Watermeyer | Infinity Real Estate Real Estate Agency
-
Sarah Purves Realtor Real Estate Agency
-
Smith Karen E Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.31M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$1.30M
Owner & transaction history
4221 Harborview LLC · 4 yrs held
4221 Harborview LLC
since 2022
Last sale
$1.3M
5 recorded transactions
Zoning & alternative use
RB-1 · Gig Harbor, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.5M
+42.9%
Auto repair, garage
$1.3M
+23.2%
Retail stores
$1.1M
+2.6%
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
$1,275,000
ML approach
$1,310,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,075,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,535,000
Change: +43% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,325,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$1,100,000
Change: +3% · Conversion: Easy
WAREHOUSE, STORAGE
$1,075,000
Change: +0% · Conversion: Difficult
MEDICAL BUILDING
$990,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$1.30M
Range $1.17M – $1.42M · ±10% · vs last sale $1.30M (May 11 2022)
Last sale anchor
$1.30M
May 11 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
$360 / 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
$9,571
Tax year 2024
Assessed value
$1,128,600
Assessed 2024
Previous assessed
$1,128,600
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$250,300
Assessed improvement
$878,300
Land market value
$250,300
Improvement market value
$878,300
Total market value
$1,128,600
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
2006
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
2
Total area
3,600 SF
Lot
0.28 ac (12,197 SF)
Zoning code
RB-1
APN
221061084
UPID
US90-1627665
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
RB-1 · Gig Harbor, WA
Zoning RB-1 · permitted uses
RB-1 · 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
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$990,000
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
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
2006
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
4221 Harborview LLC
Entity
Mailing address
223 RAFT IS DR NW, GIG HARBOR, WA 98335-5600
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2022
$1,300,000
4221 Harborview LLC
Tgh Realty LLC
Warranty Deed
$1,040,000 · Heritage Southeast Bank
Feb 13, 2008
$880,000
Tgh Realty LLC
4200 Harborview LLC
Warranty Deed
$880,000 · Peoples Bank
Mar 16, 2006
—
4200 Harborview LLC
Hill Design & Construction INC
Quit Claim Deed
related
$550,000 · Peoples Bank
Oct 25, 2002
$110,523
Hill Design & Construction INC
Sparks,douglas B
Grant Deed
—
—
—
Douglas B Sparks
—
Deed Of Trust
related
$50,000 · Northwest Community 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?”
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