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Property profile & analytics
FOR LEASE
Office Spaces
7191 Wagner Way NW, Gig Harbor, WA 98335
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1296642
For Lease
$28 SF/Yr
7191 Wagner Way NW, Gig Harbor, WA 98335
View Listing →
Property summary
AI-generated overview
Mallard's Landing I offers exceptional office space in a highly desirable location. This Class C, single three-story building totaling 20,311 square feet, was constructed in 2007 and sits on a 1.05-acre lot (APN: 4002440020). The property is currently available for lease with multiple tenancy options. Spaces range from a minimum of 1,500 square feet to a maximum contiguous space of 3,718 square feet, with 3,711 square feet currently vacant. The building boasts high-quality construction and ample parking, exceeding typical requirements for a property of this size. Its strategic location offers convenient access to the downtown area and major highways, ensuring excellent visibility and accessibility for businesses. The property's versatile layout caters to a variety of business needs, making it an ideal choice for companies seeking a functional and well-situated office space. This is a unique opportunity to secure a prominent location with significant advantages. Contact us today to learn more about leasing options and explore the possibilities.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2007
Construction
WOOD FRAME
Total area
14,581 SF
Lot
1.15 ac (50,138 SF)
Zoning code
RB-2
APN
4002440020
UPID
US90-1296642
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
-
Gordon & Alvestad, PLLC Law Firm
-
GGHF Curious by Nature School Main Campus High School Daycare Center
-
Cindy Miller Evergreen Home Loans Loan Service Bank
-
Evergreen Home Loans Gig Harbor NMLS 1102863 Bank Credit Union
-
The Legacy Group Mortgage Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.67M
Comparable Approach
Comparable
$2.87M
Blend (final)
Blend
$3.23M
Owner & transaction history
Hnp Dev LLC · 19 yrs held
Hnp Dev LLC
since 2007
4 recorded transactions
Zoning & alternative use
RB-2 · Gig Harbor, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.4M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,885,000
6.5%
$2,665,000
7%
$2,475,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,710,000
Current use
AUTO REPAIR, GARAGE
$5,360,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$4,465,000
Change: -5% · Conversion: Easy
WAREHOUSE, STORAGE
$4,350,000
Change: -8% · Conversion: Difficult
MEDICAL BUILDING
$4,005,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$3.23M
Range $2.90M – $3.55M · ±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
$221 / 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
$46,146
Tax year 2024
Assessed value
$5,446,900
Assessed 2024
Previous assessed
$5,446,900
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$876,300
Assessed improvement
$4,570,600
Land market value
$876,300
Improvement market value
$4,570,600
Total market value
$5,446,900
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
For Lease
Year built
2007
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
2
Total area
14,581 SF
Lot
1.15 ac (50,138 SF)
Zoning code
RB-2
APN
4002440020
UPID
US90-1296642
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
RB-2 · Gig Harbor, WA
Zoning RB-2 · permitted uses
RB-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
COMMERCIAL (GENERAL) Current
Est. value
$4.7M
AUTO REPAIR, GARAGE
Est. value
$5.4M
RETAIL STORES
Est. value
$4.5M
WAREHOUSE, STORAGE
Est. value
$4.4M
MEDICAL BUILDING
Est. value
$4.0M
COMMERCIAL (GENERAL) Current
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
2007
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
1.15 ac
Current owner
From public records · entity-resolved
Hnp Dev LLC
Entity
Mailing address
701 SUNBURST LN, ALPINE, UT 84004-1202
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2018
—
Hnp Development LLC
—
Deed
related
$2,963,297 · Kitsap Bank
May 21, 2007
—
Hnp Dev LLC
Hardin,todd
Grant Deed
—
Aug 16, 2006
$830,000
Todd Hardin
Frederick,robert W & Maria A
Warranty Deed
$956,601 · Kitsap Bank
—
—
Todd T Hardin
—
Deed Of Trust
related
$18,784 · Kitsap 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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