33723 & 33731 SE Redmond, Fall City, WA 98024

Building Details

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Listing Agency: NAI Puget Sound Properties Tacoma

Listed By: Kyle Schipper · License #WA Show Phone

Source: Crexi

Added: May 30, 2024 Changed: Oct 26 Last Checked: Nov 8 at 7:03AM

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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 NAI Puget Sound Properties Tacoma

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This retail space, located in Fall City, WA, offers 5872 square feet of commercial real estate. The property is currently for sale.

Key Highlights

• No property information was provided to extract selling points.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$105,042

Cap Rate

6.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,100,840 $2.1M

Cap Rate 7%

$1,500,600 $1.5M

Cap Rate 9%

$1,167,133 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,872 SF

Gross rent

$155.0K $26.40/SF

− Vacancy

−$5.0K −$0.84/SF

EGI

$150.1K $25.56/SF

− OpEx

−$45.0K −$7.67/SF

NOI

$105.0K $17.89/SF

Area

King County, WA

Vacancy

3.20%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,100,840

Cap Rate 7%

$1,500,600

Cap Rate 9%

$1,167,133

Alternative Uses

Best Use

Retail

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $105,042 @ 7.0% cap · market cap 6.18%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.35M

$2.06M – $2.74M (±1% cap)

NOI $164,632 @ 7.0% cap · market cap 9.68%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 98024, WA

5,141

Population

2,083

Households

2.5

Avg Household Size

45

Median Age

53%

College-Educated

93%

High-School Grad

22.1 sq mi

ZIP Area

233

Density / Sq Mi

$152,726

Median Household Income

$76,775

Median Earnings

$1,405

Median Rent

$1,005,100

Median Home Value

Market

Average Price Trend$/SF for Retail space in King County, WA

$453 Jul

$352 Aug

$347 Sep

$355 Oct

Properties on Market for Retail space in King County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Frequently Asked Questions

What type of property is this?

Retail space - Retail space available for sale in Fall City, WA.

Where is this retail space located?

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

What is the asking price?

The asking price for this property is $1,700,000.

What are key features of this property?

This property features: No property information was provided to extract selling points.