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    7102 Ray Nash Dr NW Gig Harbor, WA 98335
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    7102 Ray Nash Dr NW, Gig Harbor, WA 98335

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    • Grocery and convenience stores
    • 832 SF
    • 0.46 lot acres
    For Sale
    $1,175,000
    View Listing →
    Waterfront Market with Rental Income For Sale
    $1,175,000
    0.50 Acres

    Waterfront Market with Rental Income

    Multi-source income property with market, fuel, and Airbnb rental.

    7102 Ray Nash Drive NW, Gig Harbor, WA 98335
    View Listing
    Property ID
    US90-1161387
    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

    • Island View Market / Grocery & Convenience Store / Food Market
    • ATM Machine at Island View Market & Public House / Atm

    Property Details for 7102 Ray Nash Dr NW

    Year built
    1950
    Construction
    WOOD FRAME
    Lot size
    0.46 lot acres
    Zone code
    R10
    Property type
    Grocery and convenience stores
    APN
    121104002
    APU
    121104002

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 4, 2020 $740,000 Olympic Mountains Pls LLC James Ohlinger Warranty Deed $556k · James & Christine Ohlinger
    Nov 4, 2020 $208,000 James Ohlinger Island View Store LLC Warranty Deed —
    Apr 20, 2017 — Island View Store LLC Tregoning,jeffrey C & Mary Quit Claim Deed · related —
    Dec 1, 2011 $350,000 Jeffrey C Tregoning Leslie,james & Linda Warranty Deed $288k · James & Linda Leslie
    Jan 12, 2005 — James Leslie Maxfield Trust Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $850,000
      ML approach
      $805,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Gig Harbor
    County
    Pierce
    State
    Washington
    Longitude
    -122.659
    Latitude
    47.3225
    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
    $7,640
    $371,100
    $397,000
    $768,100
    -
    $371,100
    $397,000
    $768,100

    Comparable in this City

    • Value Estimation
      $710,000
      3,200 SF

      6615 Wollochet Dr

      CONVENIENCE STORE (W/FUEL PUMP)
      6615 Wollochet Dr, Gig Harbor, WA 98335-8325
      View Details
    • Value Estimation
      $8,650,000
      2,000 SF

      7102 Stinson Ave

      CONVENIENCE STORE (W/FUEL PUMP)
      7102 Stinson Ave, Gig Harbor, WA 98335-4931
      View Details
    • Value Estimation
      $660,000
      3,150 SF

      5515 38th Ave

      CONVENIENCE STORE (W/FUEL PUMP)
      5515 38th Ave, Gig Harbor, WA 98335-8236
      View Details
    • Value Estimation
      $2,595,000
      3,050 SF

      5115 Olympic Dr

      CONVENIENCE STORE (W/FUEL PUMP)
      5115 Olympic Dr, Gig Harbor, WA 98335-1704
      View Details
    • Value Estimation by Request
      2,310 SF

      1902 Pt Fosdick NW Dr

      CONVENIENCE STORE (W/FUEL PUMP)
      1902 Pt Fosdick NW Dr, Gig Harbor, WA 98335-7917
      View Details
    • Value Estimation by Request
      1,414 SF

      5555 Soundview Dr

      CONVENIENCE STORE (W/FUEL PUMP)
      5555 Soundview Dr, Gig Harbor, WA 98335-1478
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Waterfront Market with Rental Income

      Multi-source income property with market, fuel, and Airbnb rental.
      7102 Ray Nash Dr NW, Gig Harbor, WA 98335
      View Details
    • Contact for pricing
      3,556 SF

      Gig Harbor Commercial Property For Sale

      Freestanding commercial building in established neighborhood, suitable for redevelopment.
      3222 56Th Street Ct, Gig Harbor, WA 98335
      View Details
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      Waterfront Land on Wollochet Bay

      1.98-acre waterfront canvas with utilities on Wollochet Bay.
      2622 East Bay Dr, Gig Harbor, WA 98335
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      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
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      Waterfront Land with Olympic Views

      3.4 acres of waterfront land with mountain views.
      11600 32Nd Street Ct Northwest, 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

    Similar Nearby for Lease

    • Contact for pricing
      4,205 SF

      Retail Space in Gig Harbor

      Retail space available for lease in Gig Harbor, WA.
      5114-5502 Point Fosdick Dr NW, Gig Harbor, WA 98335
      View Details
    • Contact for pricing
      1,550 SF

      Gig Harbor Retail Space Available

      Open floor plan retail space in Gig Harbor for rent.
      5125 Olympic Dr NW, Gig Harbor, WA 98335
      View Details
    • Contact for pricing
      1,216 SF

      Retail Building with High Visibility

      Standalone retail building with ample parking and excellent access.
      6876-6978 Kimball Dr, Gig Harbor, WA 98335
      View Details
    • Contact for pricing
      1,399 SF

      Retail Space in Gig Harbor

      Retail space available for lease in Gig Harbor, WA.
      4819 Point Fosdick Dr, Gig Harbor, WA 98335
      View Details
    • Contact for pricing
      2,528 SF

      Gig Harbor Retail Space Available

      Retail space in professional business park setting, Gig Harbor.
      5401 32Nd Ave NW, Gig Harbor, WA 98335
      View Details
    • Contact for pricing
      14,962 SF

      Retail Space in Gig Harbor

      Retail space available for lease in Gig Harbor, WA.
      5500 Olympic 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.

    More about this property
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