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Property profile & analytics
OFF-MARKET
Estimated value
$1,230,000
Retail space
4521 56th NW St Gig Harbor, WA 98335-8570
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1105680
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1982
Construction
WOOD FRAME
Total area
3,720 SF
Lot
4.7 ac (204,732 SF)
Zoning code
RSR
APN
221181072
UPID
US90-1105680
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
-
Walrath Landscape Supply Garden Center Hardware & Home Improvement
-
Erin Rockery Construction Inc. Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$955k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.23M
Owner & transaction history
Walrath Properties LLC · 5 yrs held
Walrath Properties LLC
since 2020
Last sale
$1.4M
4 recorded transactions
Zoning & alternative use
RSR · Gig Harbor, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.6M
+39.2%
Auto repair, garage
$1.4M
+20.0%
Commercial (general)
$1.2M
+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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,035,000
6.5%
$955,000
7%
$885,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,140,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,585,000
Change: +39% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,365,000
Change: +20% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,200,000
Change: +5% · Conversion: Easy
WAREHOUSE, STORAGE
$1,110,000
Change: -3% · Conversion: Difficult
MEDICAL BUILDING
$1,020,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.23M
Range $1.11M – $1.35M · ±10% · vs last sale $1.39M (Dec 4 2020)
Last sale anchor
$1.39M
Dec 4 2020
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
$6,123
Tax year 2024
Assessed value
$554,900
Assessed 2024
Previous assessed
$554,900
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$472,400
Assessed improvement
$82,500
Land market value
$472,400
Improvement market value
$82,500
Total market value
$554,900
Applied tax rate
472.0000
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
1982
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
1
Units
1
Total area
3,720 SF
Lot
4.7 ac (204,732 SF)
Zoning code
RSR
APN
221181072
UPID
US90-1105680
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
RSR · Gig Harbor, WA
Zoning RSR · permitted uses
RSR · 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
RETAIL STORES Current
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.0M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1982
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Units
1
Lot
4.7 ac
Current owner
From public records · entity-resolved
Walrath Properties LLC
Entity
Mailing address
11405 24TH AVE E, TACOMA, WA 98445-5140
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2020
—
Walrath Properties LLC
Thomas E JR
Quit Claim Deed
related
—
Aug 5, 2015
$1,393,052
Thomas E Walrath JR
Er Land LLC
Warranty Deed
$1,184,300 · Mufg Union Bank NA
—
—
E R Land LLC
—
Deed Of Trust
related
$645,000 · Harborstone Cu
—
—
Er Land LLC
—
Deed Of Trust
related
$1,762,500 · Harborstone Cu
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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