Property Details
5903 244th Street SW
Mountlake Terrace, WA 98043
$1,650,000
Active
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About This Home
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.
Property Details
Property Information
Property Type
Commercial Sale
Subtype
Commercial Industrial
Status
Active
County
Snohomish
Neighborhood
Mountlake Terrace
Listed
Apr 7, 2026
Interior Features
Bathrooms
0.0
Exterior & Lot
Lot Size
0.28 sqft
Year Built
1964
Sewer
Sewer Connected
Water Source
Public
Location
City
Mountlake Terrace
County
Snohomish
Coordinates
47.77775, -122.31226
Additional Information
Tax Year
2025
Annual Taxes
$8,157
Possession
Array
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Estimated Monthly Payment
$0
Provided by Beyond Real Estate, LLC
Down Payment Assistance Available
This property may qualify for homebuyer assistance programs
Find out if you’re eligible for down payment assistance programs that could help make this home more affordable. Programs can provide thousands of dollars toward your down payment and closing costs.
Check Your EligibilityBased on information submitted to the MLS GRID as of May 3, 2026 5:30 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
