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Property profile & analytics
OFF-MARKET
Estimated value
$3,700,000
Warehouses
7457 Madison St, Gig Harbor, WA 98335
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-2701285
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Construction
WOOD FRAME
Total area
8,750 SF
Lot
1.06 ac (46,261 SF)
APN
220254164
UPID
US90-2701285
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.70M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.31M
Blend (final)
Blend
$3.70M
Owner & transaction history
Hull Ventures LLC · 1 yrs held
Hull Ventures LLC
since 2024
Last sale
$3.7M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.0M
+54.4%
Neighborhood: shopping center
$3.7M
+42.8%
Industrial (general)
$3.7M
+41.5%
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
$3,700,000
ML approach
$3,700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,610,000
Current use
RESTAURANT
$4,030,000
Change: +54% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,730,000
Change: +43% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$3,695,000
Change: +41% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,215,000
Change: +23% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,825,000
Change: +8% · Conversion: Difficult
RETAIL STORES
$2,680,000
Change: +3% · Conversion: Moderate
MEDICAL BUILDING
$2,400,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$3.70M
Range $3.33M – $4.07M · ±10% · vs last sale $3.70M (Sep 20 2024)
Last sale anchor
$3.70M
Sep 20 2024
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
$423 / 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
$27,142
Tax year 2024
Assessed value
$2,442,700
Assessed 2024
Previous assessed
$2,442,700
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$546,800
Assessed improvement
$1,895,900
Land market value
$546,800
Improvement market value
$1,895,900
Total market value
$2,442,700
Applied tax rate
5.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Total area
8,750 SF
Lot
1.06 ac (46,261 SF)
APN
220254164
UPID
US90-2701285
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.6M
RESTAURANT
Est. value
$4.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.7M
INDUSTRIAL (GENERAL)
Est. value
$3.7M
AUTO REPAIR, GARAGE
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$2.8M
RETAIL STORES
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.4M
WAREHOUSE, STORAGE Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
1999
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
1.06 ac
Current owner
From public records · entity-resolved
Hull Ventures LLC
Entity
Mailing address
4511 RAY NASH DR NW, GIG HARBOR, WA 98335-5884
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 20, 2024
$3,700,000
Hull Ventures LLC
Hwd LLC
Warranty Deed
$2,960,000 · Us Bank Trust Co NA
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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