5903 244th Street SW Mountlake Terrace, WA 98043

5903 244th Street SW, Mountlake Terrace, WA, 98043

$1,599,900

For Sale

$1,599,900

Redevelopment opportunity near future light rail station.

AddedApr 8

Days on Market99

Last RefreshJul 13 at 8:33 am

Property Features for 5903 244th Street SW

General Information

Standard status: Active
Property subtype: Commercial

Building Details

Year Built: 1964

Listing office AQUA REAL ESTATE

Listing date Apr 8, 2026

Source Corcoran

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

All listing content including descriptions, pricing, images are the copyrighted material of AQUA REAL ESTATE

Investment Insights

Based on property information with market context.

This property is positioned at the gateway to Mountlake Terrace, just off I-5 and adjacent to the Gateway Development and newly constructed Terrace Station. The 244th Light Rail station is arriving in 2024. The site features an existing two-story office building fully leased to nine tenants across two tax parcels, with abundant on-site parking. Bordered by streets on three sides, its level topography and prominent location enhance 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.

Key Highlights

Prime redevelopment opportunity: Zoning allows up to 18 residential units and 2,000 sq ft of retail space.
Strategic location: Gateway to Mountlake Terrace, near I‑5 and the Terrace Station/Gateway Development.
Adjacent to future 244th Light Rail station (arriving in 2024).

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Kuespert Structural Medicine Alternative Medicine Practice Apex Driving School Training Center Heart of Birth Childbirth Class HUI-SAN CHUNG Physician Blue Tusk Athlete's ... Alternative Medicine Practice

Suggested Use

Similar For Sale Nearby

$2,100,000

Mountlake Terrace Warehouse For Sale

Single-tenant warehouse near future light rail station, leased until 2026.

5503 232nd St SW, Mountlake Terrace, WA 98043

View Details
$13,800,000

Mountlake Terrace Office Building

Office building for sale in Mountlake Terrace, Washington.

6920 220th Street Southwest, Mountlake Terrace, WA

View Details
$4,900,000

16,124 SF

Mountlake Terrace Fitness and Office

Fitness center with gym, weight room, offices, and classrooms.

23607 54th Ave W, Mountlake Terrace, WA

View Details

For sale
Office buildings
WA
Mountlake Terrace
98043
5903 244th Street SW

What type of property is this?

Office building - Redevelopment opportunity near future light rail station.

Where is this office building located?

The property is located at 5903 244th Street SW Mountlake Terrace, WA.

What is the asking price?

The asking price for this property is $1,599,900.

What are key features of this property?

This property features: Prime redevelopment opportunity: Zoning allows up to 18 residential units and 2,000 sq ft of retail space.; Strategic location: Gateway to Mountlake Terrace, near I‑5 and the Terrace Station/Gateway Development.; Adjacent to future 244th Light Rail station (arriving in 2024).