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    5903 244Th St SW Mountlake Terrace, WA 98043

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    For Sale
    Contact for pricing

    Fully leased commercial property near Mountlake Terrace Light Rail Station.

    Lot size:
    0.28 Acres

    Property Features for 5903 244Th St SW

    General Information

    Lot size
    0.28 Acres

    Source: COMPASS Agent Michael Piccolo

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

    Overview

    Leased Property Redevelopment Potential

    This 0.28-acre commercial property presents a unique opportunity for acquisition, featuring long-term redevelopment potential. The site is located minutes from the Mountlake Terrace Light Rail Station. The property is fully leased to eight tenants, with leases extending through 2029 and annual rent escalations. Current zoning permits up to 3 stories, or 5 stories with Transfer of Development Rights (TDR). The City’s newly adopted Comprehensive Plan identifies this parcel as future Gateway Mixed Use, allowing 6–12 stories of mixed-use development. This property is suited for investors or developers seeking steady income and value appreciation.
    Insight Report Location Intelligence

    Current Use by Public Records

    Kuespert Structural Medicine Massage Therapist Apex Driving School Driving School Heart of Birth Childbirth Class HUI-SAN CHUNG Cardiologist Blue Tusk Athlete's ... Acupuncturist

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Mountlake Terrace
    County
    Snohomish
    State
    Washington
    Longitude
    -122.3122421
    Latitude
    47.7777488

    Nearby Similar for Sale

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    • $13,800,000

      Mountlake Terrace Office Building

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    FAQs

    What type of property is this?
    Office building - Fully leased commercial property near Mountlake Terrace Light Rail Station.
    Where is this office building located?
    The property is located at 5903 244Th St SW Mountlake Terrace, WA.
    What are key features of this property?
    This property features: - Future Gateway Mixed Use designation allows for **6-12 stories of mixed-use development.**; - Located minutes from the **Mountlake Terrace Light Rail Station.**; - Current zoning permits up to 3 stories (or 5 stories with TDR).
    (425) 830-7467
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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
    5903 244Th St SW Mountlake Terrace, WA 98043
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