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Listed by:AQUA Real Estate • Rick Juma
$ 1,650,000
Est. payment | /mo
0.28 Acres Lot
$ 1,650,000
Est. payment | /mo
0.28 Acres Lot
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Mountlake Terrace
MLS Listing ID 2504220
Style 60 - Comm Bldg Und 10K
Year Built 1964
Annual Tax Amount $8,157
Lot Size 0.280 Acres
Lot Dimensions 55X10
Property Sub-Type Commercial Industrial
Property Description
Positioned at the gateway to Mountlake Terrace, just off I-5 and adjacent to the Gateway Development and newly constructed Terrace Station—with the 244th Light Rail station arrived in 2024—this property offers a rare investment and redevelopment opportunity. The site features an existing two-story office building fully leased to eight tenants across two tax parcels, with abundant on-site parking. Its level topography and prominent location—bordered by streets on three sides—enhance both accessibility and visibility. Zoning supports future redevelopment for up to 18 residential units along with approximately 2,000 square feet of prime ground-floor retail space, as indicated by a recent massing study. The current income stream provides a stable hold during entitlement or a solid long-term investment option.
Location
State WA
County Snohomish
Area 730 - Southwest Snohomish
Interior
Fireplace false
Building
Sewer Sewer Connected
Water Public
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Nearby Locations
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