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    7817 Skansie Ave Gig Harbor, WA 98335
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    7817 Skansie Ave, Gig Harbor, WA 98335

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    • Retail space
    • 1,440 SF
    • 0.44 lot acres
    For Sale
    $849,000
    View Listing →
    Gig Harbor Commercial Land Opportunity For Sale
    $849,000
    2,040 SF

    Gig Harbor Commercial Land Opportunity

    Commercial land with reconstructed buildings in Gig Harbor, WA.

    7817 Skansie Ave, Gig Harbor, WA 98335
    View Listing
    Property ID
    US90-0671007
    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

    • Retail space

    Property Details for 7817 Skansie Ave

    Year built
    1978
    Construction
    WOOD FRAME
    Lot size
    0.44 lot acres
    Zone code
    RB-2
    Property type
    Retail space
    APN
    221071017
    APU
    221071017

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 2, 2026 — Sprinx Fire Protection INC Skansie 7817 LLC Deed —
    Jan 30, 2026 — Northwest Business Development Asso Skansie 7817 LLC Deed $345k · Northwest Business Development Associati
    Jan 23, 2026 $825,000 Skansie 7817 LLC Roy Russell Salton Warranty Deed $413k · Bank Of America NA
    Jun 29, 2010 $285,000 Roy Russell Salton Skansie Avenue Properties LLC Warranty Deed $257k · Us Bank NA
    May 15, 2006 — Skansie Avenue Properties LLC Mcnellis,joseph E Grant Deed —
    Jun 22, 2000 $177,418 Joseph E Mcnellis Knight Trust Grant Deed $129k · Harbor Bank
    — — Salton,roberta A & Roy R — Deed Of Trust · related $250k · Us Bk
    — — Skansie Avenue Properties LLC — Deed Of Trust · related $108k · Kitsap Bank
    — — Joseph E Mcnellis — Deed Of Trust · related $121k · Wells Fargo Bank Northwest NA
    — — Skansie Avenue Properties LLC — Deed Of Trust · related $31k · Kitsap Bank

    Description

    This exceptional 0.44-acre commercial property in Gig Harbor, Washington, presents a unique owner-user opportunity. Located at 7817 Skansie Ave, this parcel (APN 0221071017) is zoned RB-2 by the City of Gig Harbor. The property boasts two high-quality buildings, reconstructed in 2008, offering a combined 2,040+/- square feet of usable space. One building is a 600+/- square foot studio, and the other is a 1,440+/- square foot office/assembly space. Utilities are provided by Peninsula Light Company (power), and the City of Gig Harbor (water and sewer). The asking price is $900,000. This location offers direct access to Gig Harbor Bay, providing opportunities for water recreation. Its proximity to Kopachuck State Park adds to its appeal, offering nearby green space and hiking trails. Commuting to Tacoma and Seattle is convenient due to major highways, with the Seattle Ferry providing an alternative transportation option. The property's title and escrow are handled by Aegis Land Title and Escrow.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Gig Harbor
    County
    Pierce
    State
    Washington
    Longitude
    -122.6
    Latitude
    47.3291
    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
    $3,759
    $275,100
    $167,300
    $442,400
    -
    $275,100
    $167,300
    $442,400

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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.

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