Mercer Island, WA Land for sale

Updated: Jan 27

Mercer Island Development Opportunity

3003 Island Crest Way, Mercer Island, WA 98040

$4,950,000

3,683 sqft 0.44 AC lot

Prime development site on Mercer Island.
Multifamily 2 (MF‑2) zoning allows for Multifamily, Office, Medical, Retail, and Mixed‑Use development.
Highly visible corner location along Island Crest Way.
Just an 8‑minute walk to the new Mercer Island Link Light Rail Extension (opening in 2024).
Land area of 19,169 SF / 0.44 acre.

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Updated: Jul 23, 2025

Residential Lot Overlooking Lake Washington

9433 Southeast 54th Street, Mercer Island, WA 98040

$998,000

0.50 AC lot

Overlooking Lake Washington
1/2 acre lot in Cay Hills
Located in a sought‑after neighborhood with top‑rated schools
Quiet dead end street
Geotechnical Report, Critical Area Study and Tree Protection Plan completed

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Permitted Construction-Ready Homesite

6427 Mercer, Mercer Island, WA 98040

$1,600,000

Fully permitted, construction-ready custom homesite with approved architectural plans and included building permits.

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See what stands out in King County

We check every for-sale listing in the county against comparable properties across the country. Most price about where you would expect. A few are worth a second look.

We check every listing here. A few are worth a second look.

Cap Rate available after sign in

NOI available after sign in

Local Demand available after sign in

Mercer Island Land Parcel

73-xx Southeast 38th Street, Mercer Island, WA 98040

$825,000

Private, tree-lined parcel for custom home with potential views.

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Mercer Island Land with Views

0 XXX 91st Ave Se, Mercer Island, WA 98040

$279,950

0.38 AC lot

Land with water views in a quiet Mercer Island neighborhood.

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Waterfront Land with Water Views

91 91st Avenue Southeast, Mercer Island, WA 98040

$379,950

Raw, lightly treed land with utilities located in the street and a paved exterior feature.

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Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center

Land

28 68TH, Mercer Island, WA 98040

$1,525,000

Residential land & home lots

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Mercer Island Land with Views

0 XX23 91 St Avenue Se, Mercer Island, WA 98040

$379,950

0.40 AC lot

Land with water views in a quiet Mercer Island neighborhood.

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Land

28-xx 68th Avenue Southeast, Mercer Island, WA 98040

$1,525,000

Residential land & home lots

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Based on your search, we've compiled 19 Potential Opportunities for your consideration. Besides 9 Active listings in Mercer Island, WA, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 6 Off-Market properties to explore as potential leads

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Development Opportunity in Hillman City

5614 Rainier Ave S, Seattle, WA 98118

$725,000

3,006 sqft

Prime mixed-use development site in South Seattle's Hillman City.

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Corner Retail Development Site

5021 Rainier Ave S, Seattle, WA 98118

Contact for pricing

21,000 sqft

Corner lot with nearly 250 feet of Rainier Avenue South frontage, two buildings, and four separate rental spaces.

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Lake Washington Waterfront Legacy Estate

10879 SE Lake Road, Bellevue, WA 98004

$8,000,000

Rare 1.12-acre Lake Washington waterfront property with rebuild potential.

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Bellevue Way Development Opportunity

814 Bellevue Way SE, Bellevue, WA 98004

$7,500,000

43,006 sqft

Development site suitable for townhomes or assisted living facility.

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Off-Market Properties in Mercer Island, WA

Consider similar Off-Market properties in Mercer Island, WA. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

VACANT COMMERCIAL LAND

8475 Mercer Way, Mercer Island, WA 98040-5632

$11,350,000

Estimated value

37,104 sqft 1.55 AC lot

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VACANT COMMERCIAL LAND

3828 Greenbrier Ln, Mercer Island, WA 98040-3728

$295,000

Estimated value

0.01 AC lot

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VACANT COMMERCIAL LAND

7645 Sunset Hwy, Mercer Island, WA 98040-2824

$1,895,000

Estimated value

13,152 sqft 0.63 AC lot

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Land

6427 Mercer Way, Mercer Island, WA 98040

Value Estimation by Request

0.36 AC lot

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VACANT COMMERCIAL LAND

9200 36th Pl, Mercer Island, WA 98040-3737

Value Estimation by Request

1.34 AC lot

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VACANT COMMERCIAL LAND

Mercer Island, WA 98040

$315,000

Estimated value

0.08 AC lot

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Mercer Island, WA Land Market Trends and Statistics

Explore 15 land for sale in Mercer Island, WA, showcased through 9 active listings on our real estate platform. These investment opportunities span a total of 75,036 square feet of properties for sale, with an estimated market value of $12,462,850.

Sale prices for lots in Mercer Island, WA start at $279,950, averaging $1,384,761, and reaching up to $4,950,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

Neighborhood	Average Price
98040	$1.4M

Neighborhood

Average Price

98040

$1.4M