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    18318 3Rd Ave NE Shoreline Shoreline, WA 98155

    For Sale
    $11,500,000

    84,385 SF development site near Shoreline light rail station.

    Property size:
    84,385 SF

    Property Features for 18318 3Rd Ave NE Shoreline

    General Information

    Standard status
    Active
    Size
    84,385 SF

    Source: WESTLAKE ASSOCIATES, INC. Agent DAVID PETERSEN

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Development Site Near Light Rail

    This development site, encompassing just under 2 acres, features an 84,385 square foot lot zoned MUR-70, which allows for the construction of approximately 365 apartment units. The site consists of four contiguous tax parcels and is located within walking distance of the North Shoreline/185th Light Rail Station. A proposed preliminary site plan by Caron Architects suggests a development of 365 residential units, 13,420 sq. ft. of ground floor retail space, and 408 parking stalls. The proposed building design incorporates a 15,675 sq. ft. interior courtyard for residents. The Shoreline North/185th Link light rail station is situated on the east side of Interstate 5, on the north side of NE 185th Street, and includes an adjacent bus station and a parking garage with approximately 500 stalls. The Light Rail Expansion is newly open for service.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Shoreline
    County
    King
    State
    Washington
    Longitude
    -122.3264031
    Latitude
    47.7619395

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    FAQs

    What type of property is this?
    Commercial land - 84,385 SF development site near Shoreline light rail station.
    Where is this commercial land located?
    The property is located at 18318 3Rd Ave NE Shoreline Shoreline, WA.
    What is the asking price?
    The asking price for this property is $11,500,000.
    What are key features of this property?
    This property features: - Large 84,385 sq ft lot zoned MUR-70 allowing for approximately 365 apartment units.; - Walking distance to the North Shoreline/185th Light Rail Station.; - Preliminary site plan supports 365 residential units and 13,420 sq. ft. of ground floor retail.
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    Realmo Value Estimation

    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.

    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.

    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
    18318 3Rd Ave NE Shoreline Shoreline, WA 98155
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