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9808 44Th Ave NW, Gig Harbor, WA 98332
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Property summary
AI-generated overview
The property is located within the Northarbor Business Campus, a professional business park that provides access to Highway 16. The campus includes office and office/warehouse combinations configured for leasing use, and the broader business park has planned expansion activities.
Property profile
Verified
Property type
Other warehouses
Use group
WAREHOUSE, STORAGE
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
34,000 SF
Lot
1.86 ac (80,847 SF)
Zoning code
ED
APN
4001020141
UPID
US90-0422631
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Auto Repair Shop
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.39M
Comparable Approach
Comparable
$11.09M
Blend (final)
Blend
$9.33M
Owner & transaction history
since 2008
1 recorded transaction
Zoning & alternative use
ED · Gig Harbor, WA
Zoning description
Planned unit developments (PUDs) are conditionally permitted in the ED district. 19 Junkyards, auto wrecking yards and garbage dumps are not allowed in the C-1 district. 20 Clubs in the WM zone shall not serve alcoholic…
General category
INDUSTRIAL
Top alternative use upside
Neighborhood: shopping center
$14.5M
+42.8%
Industrial (general)
$14.4M
+41.5%
Auto repair, garage
$12.5M
+23.1%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 5 comparables with addresses
7 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$9.33M
Value range
$8.40M – $10.26M
±10% around blend
Estimated value / SF
$274 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
50
Income certainty
100
$8.40M
blend $9.33M
$10.26M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
34,000 SF
Lot area
1.86 ac
Year built
2001
Stories
1
APN
4001020141
Zoning
ED
Assessed value
$5,126,700
Annual tax
$43,434
3
Income approach: direct capitalization
Partial preview
Income approach indication
$6.39M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$6.92M
@ 6.5% CAP return
$6.39M
@ 7% CAP return
$5.93M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$43,434
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$6.92M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
19.9 mi away · 24,305 SF
20.6 mi away · 30,855 SF
23.9 mi away · 33,416 SF
24.3 mi away · 41,134 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$9.33M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 261 sales
$298
-8%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $274/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Neighborhood: Shopping Center
Gross theoretical uplift
+43%
vs current-use indication
Industrial (general)
Auto Repair, Garage
Retail Stores
Warehouse, Storage · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.23M
Move the market yield to see immediate price impact.
Value / SF
$66
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$141k
$2.81M
$2.01M
$1.56M
$156k
$3.13M
$2.23M
$1.74M
$172k
$3.44M
$2.46M
$1.91M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$7.54M
17.5 mi · Oct 2025 · $299/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$43,434
Tax year 2024
Assessed value
$5,126,700
Assessed 2024
Previous assessed
$5,126,700
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$540,700
Assessed improvement
$4,586,000
Land market value
$540,700
Improvement market value
$4,586,000
Total market value
$5,126,700
Applied tax rate
75.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
YES
Stories
1
Units
1
Total area
34,000 SF
Lot
1.86 ac (80,847 SF)
Zoning code
ED
APN
4001020141
UPID
US90-0422631
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
ED · Gig Harbor, WAZoning ED · permitted uses
ED · Gig Harbor, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
Planned unit developments (PUDs) are conditionally permitted in the ED district. 19 Junkyards, auto wrecking yards and garbage dumps are not allowed in the C-1 district. 20 Clubs in the WM zone shall not serve alcoholic…
General category
INDUSTRIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
1.86 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
ED
INDUSTRIAL
Jurisdiction
Gig Harbor, WA
Recorded code
ED
Official district
ED
Official district profile
What the municipal code says about ED
Zoning description
Planned unit developments (PUDs) are conditionally permitted in the ED district. 19 Junkyards, auto wrecking yards and garbage dumps are not allowed in the C-1 district. 20 Clubs in the WM zone shall not serve alcoholic…
General category
INDUSTRIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for ED in Gig Harbor, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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