Positioned at the gateway to Mountlake Terrace, just off I-5 and adjacent to the Gateway Development and newly constructed Terrace Stationwith the 244th Light Rail station arrived in 2024this 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 locationbordered by streets on three sidesenhance 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.
| MLS # | 2504220 |
|---|---|
| Listing Type | For Sale |
| Style | Commercial Industrial |
| Sub-Type | Resale |
| Status | Active |
| Year | 1964 |
| Days On Site | 153 |
| Listing Provided By | AQUA Real Estate | Rick Juma |
| Units | 8 |
|---|---|
| Zoning | Commercial |
| Acreage | 0.28 |
| Property | 8157 |
|---|
| State | WA |
|---|---|
| County | Snohomish |
| City | Mountlake Terrace |
| Zip Code | 98043 |
| Area | 730 Southwest Snohomish |
| Community Name | Mountlake Terrace |
| Listing VS Median (in Mountlake Terrace) | |
Price: $1,599,900 low | high Med: $625,000 On site: 153 low | high Med: 40 | |
| State | WA |
|---|---|
| County | Snohomish |
| City | Mountlake Terrace |
| Zip Code | 98043 |
| Area | 730 Southwest Snohomish |
| Community Name | Mountlake Terrace |
| Listing VS Median (in Mountlake Terrace) | |
Price: $1,599,900 low | high Med: $625,000 On site: 153 low | high Med: 40 | |