Waterfront View Restaurant with Wraparound
28201 Redondo Beach Dr S, Des Moines, WA 98198
For Sale
Contact for pricing
Pending
Wraparound deck seats 178; dining room seats 138 with 45 at the bar.
Property Size9,574 SF
Days on Market729
Property Features for 28201 Redondo Beach Dr S
General Information
Standard status
Size
Property subtype
Restaurant
Hood Type
Commercial Hood
Patio
Amenities
walk-up take-out window
signage easement
Listing Agency:
Kidder Mathews
(425) 454-7040
Listed By:
Kelly Gaddis · License WA #129429
(206) 332-1470
Source:
Moodyscre
Added: Nov 12, 2024
Changed: Oct 26
Last Checked: Nov 8 at 5:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kidder Mathews
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Investment Insights
Based on property information with market context.
Waterfront, full-service view restaurant featuring a large wraparound deck that seats 178 guests. The interior dining room seats 138, with an additional 45 seats at the bar. The kitchen includes a 20-foot Type 1 hood plus substantial refrigeration and a large prep and service area. A secondary kitchen offers a 6-foot Type 1 hood and a walk-up take-out window, supported by a small street-side patio.
The property includes 2 parcels across the street totaling 29,390 SF, currently used as parking and an office/bakery. Those parcels are zoned CC with a height limit of 35 ft, and were previously used as an apartment. The purchase also includes a signage easement at the NW corner of 270th and 15th Ave S, and there is no DNR lease of the beach or tidelands.
The property includes 2 parcels across the street totaling 29,390 SF, currently used as parking and an office/bakery. Those parcels are zoned CC with a height limit of 35 ft, and were previously used as an apartment. The purchase also includes a signage easement at the NW corner of 270th and 15th Ave S, and there is no DNR lease of the beach or tidelands.
Key Highlights
- Wraparound deck seating for 178 guests with waterfront, Olympic, Vashon, and Puget Sound views
- Dining room seats 138 plus 45 seats at the bar
- 20‑foot Type 1 hood, plus extensive refrigeration, prep and service area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$204,644
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,092,880
$4.1M
Cap Rate 7%
$2,923,486
$2.9M
Cap Rate 9%
$2,273,822
$2.3M
Market Conditions
NOI Build-Up for 9,574 SF
Gross rent
$287.2K $30.00/SF
− Vacancy
−$14.4K −$1.50/SF
EGI
$272.9K $28.50/SF
− OpEx
−$68.2K −$7.13/SF
NOI
$204.6K $21.38/SF
Area
King County, WA
Vacancy
5.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,092,880
Cap Rate 7%
$2,923,486
Cap Rate 9%
$2,273,822
Alternative Uses
Best Use
Specialty Retail
$2.92M
$2.56M – $3.41M
NOI $204,644 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$3.27M
$2.86M – $3.81M
NOI $228,629 @ 7.0% cap · market cap 3.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98198, WA
38,727
Population
15,267
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
7.7 sq mi
ZIP Area
5,029
Density / Sq Mi
$83,938
Median Household Income
$48,776
Median Earnings
$1,770
Median Rent
$527,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Conventional restaurants in King County, WA
Properties on Market for Conventional restaurants in King County
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Wraparound deck seats 178; dining room seats 138 with 45 at the bar.
Where is this conventional restaurant located?
The property is located at 28201 Redondo Beach Dr S Des Moines, WA.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Wraparound deck seating for 178 guests with waterfront, Olympic, Vashon, and Puget Sound views; Dining room seats 138 plus 45 seats at the bar; 20‑foot Type 1 hood, plus extensive refrigeration, prep and service area
