Listing provided courtesy of AQUA Real EstateNWMLSas Distributed by MLSGrid- MLS# NWM2504220
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Request Info5903 244th Street SWMountlake Terrace, WA 98043
Commercial · 0.28 Acres$1,650,000
Active
5903 244th Street SW Overview
- Visits:
- 5
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.
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5903 244th Street SW Facts & Features
- Type Commercial
- Lot 0.28 Acres
Details
General
Association/HOA
- Association Fee: $0.00
Income/Expenses
- Other Expense: 0
- Electric Expense: 0
- Fuel Expense: 0
- Gross Scheduled Income: 67128
- Insurance Expense: 2000
- Net Operating Income: 51691
- Total Expenses: 15437
- Water/Sewer/Garbage: 5280
Building Information
- Year Built: 1964
Location/Region
- Country: US
- County Or Parish: Snohomish
- MLS Area Major: 730 - Southwest Snohomish
- Subdivision Name: Mountlake Terrace
Tax Information
- Tax Annual Amount: $8,157.00
- Tax Year: 2025
General Information
- Listing Terms: Cash, Conventional
- Parcel Number: 00520500902300
- Possible Use: Commercial
- Property Sub Type: Commercial Industrial
- Property Type: Commercial Sale
- Senior Community: No
- Special Listing Conditions: None
Interior
Beds/Baths
- Bedrooms Upper: 0
Building Interior
- Approximate Building Square Feet: 2954
- Building Area Total: 0
- Building Area Units: Square Feet
- Calculated Square Footage: 0
- Square Footage Finished: 0
- Square Footage Unfinished: 0
General Information
- Cooling: No
- Fireplace: No
- Fireplaces Total: 0
- Foundation Details: Poured Concrete
- Heating: No
- Living Area: 0
- Main Level Bathrooms: 0
- Power Production Type: Electric
Exterior
Parking Information
- Open Parking: No
- Parking Total: 29
- Parking Uncovered Total: 26
Lot Information
- Irrigation Water Rights: No
- Lot Size Acres: 0.28
- Lot Size Dimensions: 55X10
- Lot Size Square Feet: 12197
- Lot Size Units: Square Feet
- Elevation Units: Feet
- Water Source: Public
Building Exterior/Construction
- Structure Type: Unspecified
General Information
- Carport: No
- Covered Spaces: 3
- Number Of Units Total: 8
- Sewer: Sewer Connected
Unit Information
Unit 7 Details
- Actual Rent: 530
Unit 8 Details
- Unit Type: Driving School
- Actual Rent: 711
Unit 1 Details
- Unit Type: Hair Salon
- Actual Rent: 583
Unit 5 Details
- Unit Type: Therapist
- Actual Rent: 1113
Unit 2 Details
- Unit Type: Therapist
- Actual Rent: 615
Unit 3 Details
- Unit Type: Therapist
- Actual Rent: 636
Unit 4 Details
- Unit Type: Therapist
- Actual Rent: 716
Unit 6 Details
- Unit Type: Therapist
- Actual Rent: 742
5903 244th Street SW Neighborhood
Community
98043 (Mountlake Terrace) Demographics
37
Median Age
5,081
Population Density (per sq. mile)
49%
College Educated
$80,738
Estimated Median Income
4,556
Estimated Total Home Owners
3,998
Estimated Total Renters
53% / 47%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.5903 244th Street SW Monthly Cost
5903 244th Street SW Market Data
Based on the last 30 days in this zip code
$582,964
Average List Price
$434
Average Price per Square Foot
24
Properties Sold
44
Average Days on Market
56
Properties for Sale
5903 244th Street SW History
| Date | Value | Agent |
|---|---|---|
| 4/8/2026Source: NWMLS | April 08, 2026 |
|
| 12/28/2022Source: NWMLS | December 28, 2022 |
|
| 6/20/2022Source: NWMLS | June 01, 2021 |
|
| 6/20/2022Source: NWMLS | June 01, 2021 |