Mountlake Terrace Investment
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.
Days on Market103
Property Features for 5903 244th Street SW
General Information
- Standard status
- Active
- Property subtype
- Commercial
Building Details
- Year Built
- 1964
Listing Agency
AQUA REAL ESTATE
(206) 688-2782
Listed by
RICK JUMA
Source
Corcoran
Added: Apr 8 Checked: Jul 19 at 4:49 am
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
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FAQs
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).
