Courtesy: AQUA Real Estate
206-688-2782
Gulamabbas Juma
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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Mountlake Terrace is located in Washington. Mountlake Terrace, Washington has a population of 21,210. Mountlake Terrace is less family-centric than the surrounding county with 26.35% of the households containing married families with children. The county average for households married with children is 35.29%.
The median household income in Mountlake Terrace, Washington is $87,785. The median household income for the surrounding county is $95,618 compared to the national median of $69,021. The median age of people living in Mountlake Terrace is 37.7 years.
The average high temperature in July is 74 degrees, with an average low temperature in January of 37.1 degrees. The average rainfall is approximately 36.6 inches per year, with 3.7 inches of snow per year.
