5118 Point Fosdick DrGig Harbor, WA 98335

Property Details for 5118 Point Fosdick Dr

Year built

1986

Construction

WOOD FRAME

Property size (Sq ft)

3,004 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

221173801

APU

221173801

Description

This exceptional retail space, totaling 3,944 square feet, is situated within the vibrant Olympic Towne Center in Gig Harbor, Washington. Located at 5118 Point Fosdick Dr NW, 98335, this property boasts a highly desirable location within Pierce County's CBA Gig Harbor submarket. The center is anchored by major retailers including Fred Meyer, Ocean 5, Table 47, PetSmart, Hops & Drops, Wells Fargo, and Xfinity, ensuring high foot traffic and strong brand recognition. The entire Olympic Towne Center encompasses 184,376 square feet across a single building, offering a robust and established retail environment. This particular space is part of a multi-tenant building, providing opportunities for synergy and shared customer base. The property sits on a substantial 17.97-acre lot, offering ample parking and visibility from Olympic Dr NW. The available space presents a unique opportunity for businesses seeking a prominent location within a thriving commercial hub. The property is classified as both retail and commercial/office space, offering flexibility for a variety of uses. This is a rare opportunity to establish a presence in one of Gig Harbor's most sought-after retail destinations.

• CAP approach

  CAP return

  Valuation

  6%

  $1,194,948

  6.5%

  $1,103,029

  7%

  $1,024,241

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,030,023

  Geo Method

  $1,457,846

• Alternative Use

  Use

  Valuation

  Residential

  $930,446

  Hospitality

  $852,284

  Educational

  $709,090

  Medical

  $733,477

  Retail

  $1,103,029

Location Insight

City

Gig Harbor

County

Pierce

State

Washington

Latitude

47.3052

Longitude

-122.58

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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