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Property profile & analytics
OFF-MARKET
Estimated value
$3,105,000
Apartment buildings
5293 Olympic Dr Gig Harbor, WA 98335-2304
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US90-2714304
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2007
Construction
WOOD FRAME
Total area
15,900 SF
Lot
2 ac (86,946 SF)
Zoning code
B-2
APN
9007150050
UPID
US90-2714304
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
$2.96M
Comparable Approach
Comparable
$2.01M
Blend (final)
Blend
$3.11M
Owner & transaction history
Olympic Multi Family LLC · 19 yrs held
Olympic Multi Family LLC
since 2007
3 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abutting Harborview Drive and North Harborview Drive and within the View Basin neighborhood design area. 17.72.070 Repealed. 17.72.075 Special provisions for existing buildings…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
Top alternative use upside
Commercial (general)
$5.1M
+36.8%
Retail stores
$4.9M
+29.7%
Warehouse, storage
$4.7M
+26.4%
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%
$3,205,000
6.5%
$2,960,000
7%
$2,750,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,755,000
Current use
COMMERCIAL (GENERAL)
$5,135,000
Change: +37% · Conversion: Moderate
RETAIL STORES
$4,870,000
Change: +30% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,745,000
Change: +26% · Conversion: Difficult
Blend value · Realmo final
$3.11M
Range $2.79M – $3.42M · ±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
$195 / 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
$140,014
Tax year 2024
Assessed value
$16,529,300
Assessed 2024
Previous assessed
$16,529,300
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$2,547,600
Assessed improvement
$13,981,700
Land market value
$2,547,600
Improvement market value
$13,981,700
Total market value
$16,529,300
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2007
Construction
WOOD FRAME
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Buildings
7
Stories
2
Units
12
Total area
15,900 SF
Lot
2 ac (86,946 SF)
Zoning code
B-2
APN
9007150050
UPID
US90-2714304
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$5.1M
RETAIL STORES
Est. value
$4.9M
WAREHOUSE, STORAGE
Est. value
$4.7M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
2007
Construction
WOOD FRAME
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
2
Buildings
7
Units
12
Lot
2 ac
Current owner
From public records · entity-resolved
Olympic Multi Family LLC
Entity
Mailing address
6622 WOLLOCHET DR, GIG HARBOR, WA 98335-8325
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 27, 2018
—
Olympic Square LLC
—
Grant Deed
related
$11,015,000 · Wells Fargo Bk
Jun 21, 2011
—
Olympic Square LLC
—
Deed Of Trust
related
$8,750,000 · Berkadia Commercial Mortgage
Mar 23, 2007
—
Olympic Multi Family LLC
Olympic Drive Land LLC
Quit Claim Deed
$12,384,000 · Venture 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.
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