Back to Search
Property profile & analytics
FOR LEASE
Medical Office Space
5122 Olympic Dr NW Gig Harbor, WA 98335
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US90-0822653
For Lease
1 / 5
Contact for pricing
5122 Olympic Dr NW, Gig Harbor, WA 98335
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1984
Construction
WOOD FRAME
Total area
14,016 SF
Lot
0.72 ac (31,442 SF)
Zoning code
B-2
APN
221177026
UPID
US90-0822653
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
-
Dr. Chad Smart DDS Dental Office
-
The Smart Orthodontic Group Gig Harbor Dental Office
-
Dr. Vincent Kokich DDS Dental Office
-
Dr. Samuel G. Hinz, DDS Dental Office
-
Kvinsland Jon H DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.83M
Owner & transaction history
Rooster Investment Group LLC · 10 yrs held
Rooster Investment Group LLC
since 2015
4 recorded transactions
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abutting Harborview Drive and North Harborview Drive and within the View Basin neighborhood design area. 17.72.070 Repealed. 17.72.075 Special provisions for existing buildings…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
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$130 / 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
$23,432
Tax year 2024
Assessed value
$2,765,200
Assessed 2024
Previous assessed
$2,765,200
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$800,700
Assessed improvement
$1,964,500
Land market value
$800,700
Improvement market value
$1,964,500
Total market value
$2,765,200
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1984
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
2
Units
10
Total area
14,016 SF
Lot
0.72 ac (31,442 SF)
Zoning code
B-2
APN
221177026
UPID
US90-0822653
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
Building & site characteristics
From public records
Year built
1984
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
10
Lot
0.72 ac
Current owner
From public records · entity-resolved
Rooster Investment Group LLC
Entity
Mailing address
5122 OLYMPIC DR STE A201, GIG HARBOR, WA 98335-1762
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
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
Mar 31, 2021
—
Rooster Investment Group LLC
—
Deed
related
$5,000,000 · First Citizens Bank & Trust Co
Sep 30, 2015
$4,999,719
Rooster Investment Group LLC
Jon H Kvinsland
Warranty Deed
$3,712,000 · First Citizens Bank & Trust Co
Jun 23, 2015
—
Jon H Kvinsland
Kvinsland,joan K
Quit Claim Deed
related
—
—
—
Jon H Kvinsland
—
Deed Of Trust
related
$250,000 · Key Bank NA
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?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
