Positioned at the gateway to Mountlake Terrace, just off I-5 and adjacent to the Gateway Development and newly constructed Terrace Station-with the 244th Light Rail station arrived in 2024-this property offers a rare investment and redevelopment opportunity. The site features an existing two-story office building fully leased to eight tenants across two tax parcels, with abundant on-site parking. Its level topography and prominent location-bordered by streets on three sides-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.
| MLS # | 2504220 |
|---|---|
| Listing Type | For Sale |
| Style | Commercial Industrial |
| Sub-Type | Resale |
| Status | Active |
| Year | 1964 |
| Days On Site | 181 |
| Listing Provided By | AQUA Real Estate | Rick Juma |
| Units | 8 |
|---|---|
| Zoning | Commercial |
| Acreage | 0.28 |
| Property | 8157 |
|---|
| State | WA |
|---|---|
| County | Snohomish |
| City | Mountlake Terrace |
| Zip Code | 98043 |
| Area | 730 Southwest Snohomish |
| Community Name | Mountlake Terrace |
| Listing VS Median (in Mountlake Terrace) | |
Price: $1,599,900 low | high Med: $615,000 On site: 181 low | high Med: 25 | |
| State | WA |
|---|---|
| County | Snohomish |
| City | Mountlake Terrace |
| Zip Code | 98043 |
| Area | 730 Southwest Snohomish |
| Community Name | Mountlake Terrace |
| Listing VS Median (in Mountlake Terrace) | |
Price: $1,599,900 low | high Med: $615,000 On site: 181 low | high Med: 25 | |
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