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For sale
Conventional restaurants
WA
Fall City
98024
33723 & 33731 SE Redmond-Fall City Road

Fall City Restaurant and Tavern

33723 & 33731 SE Redmond-Fall City Road, Fall City, WA 98024

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For Sale

$1,800,000

Restaurant, tavern, and apartment in downtown Fall City, WA.

Type:Retail

Property size:

5,872 SF

Price / SF:

$306/SF

HighLights

Established and highly‑rated restaurant and tavern in a desirable downtown Fall City location.
Two income‑generating NNN leases in place with established tenants (Riverside Tavern and Fall City Bar & Grill).
Attractive 6.67% cap rate.
Located in an affluent and fast‑growing East King County submarket.
Includes a 569 SF two‑bedroom apartment.
Brand new roof installed Summer 2025.

We can help!

Listing Contact

Kyle Schipper, SIOR

Learn more

For Sale

$1,800,000

Restaurant, tavern, and apartment in downtown Fall City, WA.

Type:Retail

Property size:

5,872 SF

Price / SF:

$306/SF

Added:: Nov 21, 2025
Days on Market:: 200
Last Refresh:: May 9 at 3:32 am

Property Features for 33723 & 33731 SE Redmond-Fall City Road

General Information

Standard status: Active
Size: 5,872 SF
Property subtype: Retail

We can help!

Listing Contact

Kyle Schipper, SIOR

Listing agent Kyle Schipper, SIOR

Listing office

Listing date Nov 21, 2025

Source Naiglobal

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 Kyle Schipper, SIOR

HighLights

Established and highly‑rated restaurant and tavern in a desirable downtown Fall City location.
Two income‑generating NNN leases in place with established tenants (Riverside Tavern and Fall City Bar & Grill).
Attractive 6.67% cap rate.
Located in an affluent and fast‑growing East King County submarket.
Includes a 569 SF two‑bedroom apartment.
Brand new roof installed Summer 2025.

Overview

This property in Fall City, Washington, features a restaurant and tavern. The building has an area of 5,872 square feet and is situated on a 0.17-acre lot. The property includes a 1,100-square-foot Riverside Tavern with a NNN lease extending to September 30, 2031. Additionally, there is a 4,203-square-foot Fall City Bar & Grill with a recently signed lease that has 5 years remaining on NNN lease. A 569-square-foot two-bedroom apartment is located on the second story. The property is located in downtown Fall City along Highway 202, across from the Snoqualmie River. It houses a highly-rated and established restaurant. The location is in the affluent and fast-growing East King County submarket. A new roof is planned for installation in the summer of 2025. The property has a cap rate of 6.67%.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$176.2k	$30.00
− Vacancy	−$8.8k	−$1.50
EGI	$167.4k	$28.50
− OpEx	−$41.8k	−$7.13
NOI	$125.5k	$21.38

5,872 SF · lease $30.00/SF/yr · vacancy 5.00% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$1.79M

$1.57M – $2.09M (±1% cap)

NOI $125,514 @ 7.0% cap · market cap 6.97%

Second Best

Retail

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $105,042 @ 7.0% cap · market cap 5.84%

Theoretical Best

Office A

$2.35M

$2.06M – $2.74M (±1% cap)

NOI $164,632 @ 7.0% cap · market cap 9.15%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Conventional restaurants

Map

City: Fall City
County: King
State: Washington
Longitude: -121.724
Latitude: 47.6631

Nearby Similar for Sale

$1,800,000

5,872 SF

Fall City Mixed-Use Investment Property

Mixed-use property with established restaurants and apartment in Fall City.

33723-33731 SE Redmond-Fall City Rd, Fall City, WA

View Details
$1,700,000

5,872 SF

Retail Space in Fall City

Retail space available for sale in Fall City, WA.

33723 & 33731 SE Redmond, Fall City, WA 98024

View Details

For sale
Conventional restaurants
WA
Fall City
98024
33723 & 33731 SE Redmond-Fall City Road

What type of property is this?

Conventional restaurant - Restaurant, tavern, and apartment in downtown Fall City, WA.

Where is this conventional restaurant located?

The property is located at 33723 & 33731 SE Redmond-Fall City Road Fall City, WA.

What is the asking price?

The asking price for this property is $1,800,000.

What are key features of this property?

This property features: Established and highly‑rated restaurant and tavern in a desirable downtown Fall City location.; Two income‑generating NNN leases in place with established tenants (Riverside Tavern and Fall City Bar & Grill).; Attractive 6.67% cap rate.