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Property profile & analytics
OFF-MARKET
Office Spaces
9121 Key Peninsula NW Hwy, Gig Harbor, WA 98329
Individually Owned
15-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-3110190
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1967
Construction
WOOD FRAME
Total area
1,620 SF
Lot
0.27 ac (11,763 SF)
Zoning code
RAC
APN
21011051
UPID
US90-3110190
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Michael Tovey JR. · 15 yrs held
Michael Tovey JR.
since 2010
4 recorded transactions
Zoning & alternative use
RAC · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,871
Tax year 2024
Assessed value
$370,900
Assessed 2024
Previous assessed
$370,900
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$168,300
Assessed improvement
$202,600
Land market value
$168,300
Improvement market value
$202,600
Total market value
$370,900
Applied tax rate
471.0000
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
Off-Market
Year built
1967
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Units
2
Total area
1,620 SF
Lot
0.27 ac (11,763 SF)
Zoning code
RAC
APN
21011051
UPID
US90-3110190
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
RAC · Gig Harbor, WA
Zoning RAC · permitted uses
RAC · 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
1967
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Units
2
Lot
0.27 ac
Current owner
From public records · entity-resolved
Michael Tovey JR.
Individual
Free & Clear · 15 yrs held
Mailing address
4028 FIRDRONA DR NW, GIG HARBOR, WA 98332-7898
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
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
Nov 9, 2010
$350,651
Michael Tovey JR.
Ford Christine A
Trustees Deed
related
—
Aug 21, 2007
$400,000
4 Eagle LLC
Tovey,michael A JR & Joyce A
Warranty Deed
$325,000 · Michael JR & Joyce Tovey
Jan 26, 1994
$150,000
Michael Tovey
Stutz Fuel Oil S
Grant Deed
$95,000 · Seller
—
—
4 Eagle LLC
—
Deed Of Trust
related
$85,000 · Key Center Investments LLC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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