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Property profile & analytics
FOR LEASE
Office Spaces
5401 32Nd Ave NW, Gig Harbor, WA 98335
Individually Owned
5-yr Hold
Free & Clear
Property ID
US90-0353058
For Lease
1 / 2
$25 SF/Yr
5401 32Nd Ave NW, Gig Harbor, WA 98335
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Property summary
AI-generated overview
Towne Plaza, located at 5401 32nd Ave in Gig Harbor, Washington, presents a unique retail opportunity. This established center boasts a total of 25,700 square feet of high-quality retail space, currently featuring 3,711 square feet of immediately available space. Situated in the desirable business core of Gig Harbor, Towne Plaza benefits from its strategic location at the Olympic Interchange on the west side of Highway 16, ensuring high visibility and accessibility. The property is zoned B-2, allowing for a variety of retail uses. The existing tenants enjoy a well-maintained building with modern finishes, reflecting a commitment to quality tenant improvements. The convenient location offers numerous amenities within walking distance, enhancing the appeal for both businesses and customers. This is an exceptional opportunity to establish or expand a retail presence in a thriving Gig Harbor community. The available space totals 3,711 square feet, providing ample room for a variety of retail concepts. Pierce County location offers a strong market for businesses. Don't miss this chance to secure a prime retail space in a highly sought-after area.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
25,292 SF
Lot
1.44 ac (62,726 SF)
Zoning code
B-2
APN
221177052
UPID
US90-0353058
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
-
Meadow Springs Detox Medical Clinic
-
Kaity Johnson Realtor Real Estate Agency
-
Gig Harbor Mixed Martial Arts/Checkmat Gig Harbor Training Center Sports School
-
Stacie Brown, LMP Alternative Medicine Practice Spa & Massage Center
-
Salveo Massage & Bodywork Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.63M
Comparable Approach
Comparable
$3.61M
Blend (final)
Blend
$4.46M
Owner & transaction history
Scott K Serven · 5 yrs held
Scott K Serven
since 2021
6 recorded transactions
Zoning & alternative use
B-2 · Gig Harbor, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$5,010,000
6.5%
$4,625,000
7%
$4,290,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$6,945,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$4.46M
Range $4.01M – $4.90M · ±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
$176 / 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
$58,074
Tax year 2024
Assessed value
$6,855,100
Assessed 2024
Previous assessed
$6,855,100
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$1,129,800
Assessed improvement
$5,725,300
Land market value
$1,129,800
Improvement market value
$5,725,300
Total market value
$6,855,100
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
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
25,292 SF
Lot
1.44 ac (62,726 SF)
Zoning code
B-2
APN
221177052
UPID
US90-0353058
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
B-2 · Gig Harbor, WA
Zoning 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
Gig Harbor. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$6.9M
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
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
1.44 ac
Current owner
From public records · entity-resolved
Scott K Serven
Individual
Free & Clear · 5 yrs held
Mailing address
5401 32ND AVE STE #100, GIG HARBOR, WA 98335-6308
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 22, 2021
—
Scott K Serven
Oakridge Homes Retirement Savings P
Warranty Deed
—
Jul 27, 2011
$2,124,000
Hms Retirement Svgs P Oakridge
First Citizens Bk & Trust Co
Grant Deed
—
Aug 12, 2010
$1,920,000
First Citizens Bk & Trust Co
Eisenhower & Carlson PLLC
Trustees Deed
related
—
Jan 4, 2008
—
Jacobson 1031 Inv Prop LLC
—
Trustees Deed
related
$4,900,000 · Venture Bank
Sep 30, 2005
$658,000
Jacobson 1031 Inv Property LLC
Quality Ventures
Warranty Deed
$250,000 · Venture Bank
—
—
Jacobson 1031 Investment Prope
—
Deed Of Trust
related
$250,000 · 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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