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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Office Spaces
5603 38th Ave, Gig Harbor, WA 98335-8218
Entity Owned
Free & Clear
Property ID
US90-1649694
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1972
Construction
WOOD FRAME
Total area
1,902 SF
Lot
0.58 ac (25,365 SF)
Zoning code
RB-1
APN
221172041
UPID
US90-1649694
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
-
Peninsula Natural Health Center Alternative Medicine Practice
-
Colombini Anna Alternative Medicine Practice
-
Jennifer L. Townsend, Licensed Alternative Medicine Practice Spa & Massage Center
-
Rachel Goyette Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$610k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$685k
Blend (final)
Blend
$605k
Owner & transaction history
City Of Gig Harbor
City Of Gig Harbor
since 2026
Last sale
$550,000
7 recorded transactions
Zoning & alternative use
RB-1 · Gig Harbor, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$810,000
+32.0%
Auto repair, garage
$700,000
+13.8%
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
$620,000
ML approach
$610,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$615,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$810,000
Change: +32% · Conversion: Difficult
AUTO REPAIR, GARAGE
$700,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$580,000
Change: -5% · Conversion: Easy
WAREHOUSE, STORAGE
$570,000
Change: -8% · Conversion: Difficult
MEDICAL BUILDING
$520,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$605k
Range $545k – $666k · ±10% · vs last sale $550k (Dec 8 2020)
Last sale anchor
$550k
Dec 8 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
$318 / 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
$4,508
Tax year 2024
Assessed value
$530,900
Assessed 2024
Previous assessed
$530,900
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$497,700
Assessed improvement
$33,200
Land market value
$497,700
Improvement market value
$33,200
Total market value
$530,900
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
Off-Market
Year built
1972
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Units
1
Bathrooms
2
Total area
1,902 SF
Lot
0.58 ac (25,365 SF)
Zoning code
RB-1
APN
221172041
UPID
US90-1649694
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
RB-1 · Gig Harbor, WA
Zoning RB-1 · permitted uses
RB-1 · 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
COMMERCIAL (GENERAL) Current
Est. value
$615,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$810,000
AUTO REPAIR, GARAGE
Est. value
$700,000
RETAIL STORES
Est. value
$580,000
WAREHOUSE, STORAGE
Est. value
$570,000
MEDICAL BUILDING
Est. value
$520,000
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
RETAIL STORES
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
1972
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Units
1
Bathrooms
2
Lot
0.58 ac
Current owner
From public records · entity-resolved
City Of Gig Harbor
Entity
Free & Clear · 0 yrs held
Mailing address
3311 N TYLER ST, TACOMA, WA 98407-5530
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2026
—
Lampin LLC
—
Deed
related
$453,813 · First Citizens Bank And Trust Company
Mar 4, 2026
—
City Of Gig Harbor
Lampin LLC
Warranty Deed
—
Dec 8, 2020
$550,000
Lampin LLC
Harborcornersm LLC
Warranty Deed
$1,000,000 · First Citizens Bank & Trust Co
Dec 22, 2014
—
Harborcornersm LLC
Davis,steven
Quit Claim Deed
related
—
Nov 14, 1994
—
Steven W Davis
—
Grant Deed
related
$225,000 · Kitsap Bank
Oct 31, 1994
—
Steven W Davis
—
Grant Deed
related
$225,000 · Kitsap Bank
Nov 8, 1993
$1,300
Pierce County
Davis,steven W &
Grant Deed
related
—
Feb 25, 1993
$139,950
Steven W Davis
Dubey
Grant Deed
$120,400 · Seller
Feb 22, 1993
$139,950
Steven W Davis
Unknown
Grant Deed
—
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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