Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    33723 Redmond Fall City, WA 98024

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    33723 Redmond Fall City, WA 98024

    View on Map
    • Retail properties & Spaces
    • 5,872 SF
    • 0.17 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 33723 Redmond

    Lot size
    0.17 lot acres
    Property size
    5,872 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional investment opportunity presents a thriving restaurant and tavern complex in the desirable Fall City, Washington market. Located in downtown Fall City along Highway 202 and directly across from the Snoqualmie River, this property boasts a total of 7,405 square feet on a 0.17-acre lot. The main building encompasses 5,872 square feet and includes two established businesses: a 1,100 square foot Riverside Tavern operating under a triple-net (NNN) lease with seven years remaining (lease expiration 9/30/2031), and a 4,203 square foot Fall City Bar & Grill, also under a NNN lease with five years remaining. Adding to the property's value is a 569 square foot, two-bedroom apartment located on the second floor. The property benefits from its location in an affluent and rapidly growing area of East King County, and the existing businesses are highly rated and well-established, contributing to a strong 6.32% capitalization rate. The asking price for this turnkey investment is $1,900,000. This is a rare chance to acquire a multi-faceted commercial property with significant income potential in a prime location. The property's strong tenant base and favorable lease terms provide a secure and profitable investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fall City
    County
    King
    State
    Washington
    Longitude
    -121.879
    Latitude
    47.5696

    Comparable in this City

    • Value Estimation
      $650,000
      2,040 SF

      Fall City, WA 98024

      RESTAURANT • 2,040 SF
      Fall City, WA 98024
      View Details
    • Value Estimation by Request
      4,519 SF

      33703 Redmond Fall City Rd

      RESTAURANT • 4,519 SF
      33703 Redmond Fall City Rd, Fall City, WA 98024-5005
      View Details
    • Value Estimation by Request
      756 SF

      33813 Redmond Fall City Rd

      BAR, TAVERN • 756 SF
      33813 Redmond Fall City Rd, Fall City, WA 98024-5006
      View Details
    • Value Estimation by Request
      6,806 SF

      4200 Preston Fall City SE Rd

      RESTAURANT • 6,806 SF
      4200 Preston Fall City SE Rd, Fall City, WA 98024-5726
      View Details
    • Value Estimation by Request
      448 SF

      4225 Preston Fall City SE Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 448 SF
      4225 Preston Fall City SE Rd, Fall City, WA 98024-5024
      View Details
    • Value Estimation by Request
      2,836 SF

      33731 Redmond Fall City Rd

      BAR, TAVERN • 2,836 SF
      33731 Redmond Fall City Rd, Fall City, WA 98024
      View Details

    Similar Nearby for Sale

    • $1,800,000

      Fall City Restaurant and Tavern

      Restaurant, tavern, and apartment in downtown Fall City, WA.
      33723 SE Redmond-Fall City Rd, Fall City, WA 98024
      View Details
    • Contact for pricing
      5,872 SF

      Retail Space in Fall City

      Retail space available for sale in Fall City, WA.
      33723 SE Redmond, Fall City, WA 98024
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    33723 Redmond
    Fall City, WA 98024
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!