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    5315 57Th St NW Gig Harbor, WA 98335
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    5315 57Th St NW Gig Harbor, WA 98335

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    • Office Spaces
    • 1,736 SF
    • 0.59 lot acres
    For Sale
    $1,490,000
    View Listing →
    Two-Story Building with Parking For Sale
    $1,490,000
    3,872 SF

    Two-Story Building with Parking

    Two-story building with parking, ideal for owner-user or investment.

    5315 57th St NW, Gig Harbor, WA 98335
    View Listing
    Property ID
    US90-0474875
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Vertical Bay / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • Lead Generation / Marketing & Advertising
    • Divine Tattoo / Tattoo & Piercing Shop
    • Soap & Clay / (Bike/Boat/Book/etc) Store / Cosmetic Store
    • CM SR22 Insurance Group / Financial Advisor / Insurance Agency

    Property Details for 5315 57Th St NW

    Year built
    1990
    Construction
    WOOD FRAME
    Lot size
    0.59 lot acres
    Property size
    1,736 SF
    Zone code
    RSR
    Property type
    Office Spaces
    APN
    221182092
    APU
    221182092

    Description

    This exceptional two-story, 3,872 square foot commercial building in Gig Harbor, Washington, presents a compelling investment opportunity. Located at 5315 57th St NW, 98335, this Class C office building, constructed in 1990 and renovated in 1995, sits on two lots encompassing 33,976 square feet of land. The property boasts over 200 feet of frontage along Wollochet and offers convenient access to Highway 16. The versatile floor plan is currently configured to accommodate one to four tenants, with three spaces currently leased for a combined monthly rent of $5,950. Approximately 750 square feet of space is available for lease at $20 per square foot annually, plus NNN charges. The asking price is $1,490,000, translating to $384.81 per square foot. This property is ideal for owner-users seeking a prominent location or investors looking for a multi-tenant income stream. Ample parking is available. The property's diverse zoning allows for use as creative office, executive office, or medical office space. This is a rare opportunity to acquire a well-located, versatile commercial property in a thriving Gig Harbor market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gig Harbor
    County
    Pierce
    State
    Washington
    Longitude
    -122.61
    Latitude
    47.3092
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $4,625
    $115,100
    $346,600
    $461,700
    -
    $115,100
    $346,600
    $461,700

    Comparable in this City

    • Value Estimation
      $3,175,000
      17,010 SF

      3519 56th St

      OFFICE (GENERAL) • 17,010 SF
      3519 56th St, Gig Harbor, WA 98335-8593
      View Details
    • Value Estimation
      $7,375,000
      32,400 SF

      3025 Harborview Dr

      OFFICE (GENERAL) • 32,400 SF
      3025 Harborview Dr, Gig Harbor, WA 98335-1962
      View Details
    • Value Estimation
      $905,000
      4,785 SF

      5715 Wollochet NW Dr

      OFFICE (GENERAL) • 4,785 SF
      5715 Wollochet NW Dr, Gig Harbor, WA 98335-7370
      View Details
    • Value Estimation
      $1,815,000
      7,558 SF

      6712 Kimball Dr

      OFFICE (GENERAL) • 7,558 SF
      6712 Kimball Dr, Gig Harbor, WA 98335-1212
      View Details
    • Value Estimation by Request
      2,310 SF

      4600 Neel Ct

      OFFICE (GENERAL) • 2,310 SF
      4600 Neel Ct, Gig Harbor, WA 98335-8317
      View Details
    • Value Estimation by Request
      2,336 SF

      3412 56th St

      OFFICE (GENERAL) • 2,336 SF
      3412 56th St, Gig Harbor, WA 98335-8210
      View Details

    Similar Nearby for Sale

    • $800,000

      Soundview Drive Office Investment

      Well-maintained 2,380 SF office building with 6 units.
      5800 Soundview Dr, Gig Harbor, WA 98335
      View Details
    • Contact for pricing

      Two-Story Office Building For Sale

      Two-story office building with parking and versatile floor plan.
      5315 57Th St NW, Gig Harbor, WA 98335
      View Details
    • Contact for pricing

      Gig Harbor Office Building For Sale

      Office building in Gig Harbor, WA, suitable for investment or owner-user.
      3710 Grandview St, Gig Harbor, WA 98335
      View Details
    • Contact for pricing
      3,872 SF

      Two-Story Building with Parking

      Two-story building with parking, ideal for owner-user or investment.
      5315 57Th St NW, Gig Harbor, WA 98335
      View Details
    • Contact for pricing

      Waterfront Land on Wollochet Bay

      1.98-acre waterfront canvas with utilities on Wollochet Bay.
      2622 East Bay Dr, Gig Harbor, WA 98335
      View Details
    • Contact for pricing

      2.75 Acre Commercial Property

      2.75 acres with shop and immediate highway access for sale.
      4542 Neel Ct, Gig Harbor, WA 98335
      View Details

    Similar Nearby for Lease

    • $2,243 /Mo
      1,346 SF

      Office, Retail, and Flex Space

      Office, retail, and flex spaces available for lease.
      5775 Soundview Dr, Gig Harbor, WA 98335
      View Details
    • Contact for pricing

      Professional Business Park For Rent

      Professional business park with high visibility and quick highway access.
      2601-2715 Jahn Ave NW, Gig Harbor, WA 98335
      View Details
    • $2,243 /Mo
      1,346 SF

      Office Retail Flex Space Available

      Institutional-quality office park with retail and flex space.
      5775 Soundview Dr, Gig Harbor, WA 98335
      View Details
    • $22 SF/Yr
      196 SF

      Gig Harbor Office & Warehouse Space

      Versatile Gig Harbor commercial property.
      5717 Wollochet Dr, Gig Harbor, WA 98335
      View Details
    • $5,878 /Mo
      2,713 SF

      Professional Office Space Available

      First floor office with reception, kitchen, and parking.
      7525 Pioneer Way, Gig Harbor, WA 98335
      View Details
    • $3,502 /Mo
      2,212 SF

      Gig Harbor Office Suite Available

      Office suite for lease in Gig Harbor, Washington.
      6659 Kimball Dr, Gig Harbor, WA 98335
      View Details
    View Listing
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    Gig Harbor, WA 98335
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    5315 57Th St NW, Gig Harbor, WA, 98335
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