Active · Commercial Sale

5903 244th Street SW, Mountlake Terrace, WA 98043

Mountlake Terrace, WA 98043

$1,599,900

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by AQUA Real Estate · MLS #2504220 · Active

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About this property

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.

Property details

Property type: Commercial Industrial
Year built: 1964
Lot size: 12,197 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $8,157 (2025)
Parking spaces: 29

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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