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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Flex space
5926 Sehmel Dr, Gig Harbor, WA 98332-8307
Entity Owned
~
Est. High Equity
Property ID
US90-0876330
Property summary
AI-generated overview
This exceptional Gig Harbor investment opportunity presents a prime commercial and warehouse property, ideally situated within the Sehmel Business Park. The property encompasses a total of 80,429 square feet, strategically divided to include both retail and industrial spaces. The site, zoned ED (Employment District), sits on a substantial 14.296-acre lot and features existing income-producing tenants. The development includes five industrial buildings totaling approximately 75,180 square feet and a retail space (approximately 5,069 square feet) that includes a coffee shop and gas/convenience store. This property benefits from its convenient location, just two minutes from the SR-16 interchange, ensuring excellent accessibility and high visibility. The property's Assessed Parcel Numbers (APNs) are: 0122361067
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1987
Construction
STEEL FRAME
Total area
3,200 SF
Lot
6.31 ac (274,864 SF)
Zoning code
RB-1
APN
122361068
UPID
US90-0876330
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
-
Cannon Companies General Contractor
-
Harbor Steel Fabrication Metal Fabrication Plant Factory
-
Sehmel Storage and Business Park Storage Facility
-
Lighthouse Marine Gig Harbor, LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
$495k
Comparable Approach
Comparable
$879k
Blend (final)
Blend
$640k
Owner & transaction history
Harbor Business Park LLC
Harbor Business Park LLC
since 2025
7 recorded transactions
Zoning & alternative use
RB-1 · 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
$540,000
CAP Approach
CAP Return
Estimation
6%
$535,000
6.5%
$495,000
7%
$460,000
Blend value · Realmo final
$640k
Range $576k – $704k · ±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
$200 / 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
$20,845
Tax year 2024
Assessed value
$2,301,600
Assessed 2024
Previous assessed
$2,301,600
+0.0% YoY
Effective rate
0.91%
On assessed value
Assessed land
$1,881,400
Assessed improvement
$420,200
Land market value
$1,881,400
Improvement market value
$420,200
Total market value
$2,301,600
Applied tax rate
76.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Buildings
3
Stories
1
Units
1
Bathrooms
1
Total area
3,200 SF
Lot
6.31 ac (274,864 SF)
Zoning code
RB-1
APN
122361068
UPID
US90-0876330
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.
Building & site characteristics
From public records
Year built
1987
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Units
1
Bathrooms
1
Lot
6.31 ac
Current owner
From public records · entity-resolved
Harbor Business Park LLC
Entity
Mailing address
406 PORTER WAY, MILTON, WA 98354-9638
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2025
$5,247,650
Harbor Business Park LLC
Sehmel Business Park LLC
Warranty Deed
—
Feb 19, 2021
—
Sehmel Business Park LLC
Vanlak LLC
Warranty Deed
$2,124,847 · Heritage Bank
Apr 30, 2020
—
Sehmel Business Park LLC
Michael Cannon
Quit Claim Deed
related
—
Nov 30, 2018
$2,850,000
Paul H Garrison
Betty N Garrison
Quit Claim Deed
related
—
Nov 30, 2018
—
Michael Cannon
Cannon,penny L & Michael
Quit Claim Deed
related
$250,000 · Garrison Paul H (es)
Jun 14, 2018
—
Betty N Garrison
Betty N Garrison
Intrafamily Transfer
related
$473,712 · Us Bank NA
Apr 9, 1999
$462,228
Paul H Garrison
Pardey,rodney G
Grant Deed
$350,000 · Seller
—
—
Paul H Garrison
—
Deed Of Trust
related
$360,000 · Kitsap Bank
—
—
Garrison,paul H & Betty N
—
Deed Of Trust
related
$460,000 · Sound Bkng
—
—
Paul H Garrison
—
Deed Of Trust
related
$416,280 · Kitsap Bank
—
—
Rodney H Pardey
—
Deed Of Trust
related
$20,000 · Individual
—
—
Paul H Garrison
—
Deed Of Trust
related
$190,000 · Sound Banking Co
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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