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4820 196Th St SW Lynnwood, WA 98036

For Sale
$5,500,000

0.91 acre vacant land near Light Rail Station.

Property size:
39,640 SF

Property Features for 4820 196Th St SW

General Information

Standard status
Active
Size
39,640 SF

Source: WINDERMERE GREENWOOD Agent JACK MALEK

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


Overview

Transit Oriented Development Land

This 0.91-acre vacant land is located on 196th St, suitable for transit-oriented development. The property, formerly an Alfy's Pizza location, is mostly level and cleared. It is situated blocks away from a Light Rail Station, approximately 0.3 miles. Located within an Opportunity Zone, it offers potential deferred, reduced, or excluded gains taxes and eligibility for a Heritage Community Development Loan of $15 million. The property has been recently upzoned to PCD (Planned Commercial Development), which allows for residential mixed-use development. There are no height or parking requirements. It is ideal for 5/2 podium construction with ground-level retail. The city is scheduled to complete new zoning design standards by May 2025. The property is priced for developer terms, and the seller is willing to negotiate for a quicker closing.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Commercial land

Suggested Use

Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

Location Insight

  • Map
  • Local Demand
City
Lynnwood
County
Snohomish
State
Washington
Longitude
-122.2987393
Latitude
47.820504

FAQs

What type of property is this?
Commercial land - 0.91 acre vacant land near Light Rail Station.
Where is this commercial land located?
The property is located at 4820 196Th St SW Lynnwood, WA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: - Transit-Oriented Development: Just blocks (0.3 miles) from a Light Rail Station.; - Opportunity Zone: Benefit from potential deferred, reduced, or excluded gains taxes.; - Upzoned to PCD: Allows for residential mixed-use development with no height or parking requirements.
More about this property
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