Handy Mart at 228th/44th For Sale

The property at the SW corner of 228th St SW and 44th Ave W in Mountlake Terrace has been listed for sale. The property currently contains a mini-mart housed in a 3,000 square foot building constructed in 1964 and a surface parking lot. 

The property, listed for $1.3 million, is currently zoned as Community Business (BC). Uses for properties in the BC zone can generally be commercial/medical/healthcare. Multi-family housing is allowed as part of a mixed-use development. Buliding heights are limited to three stories for this property.

The $1.3 million asking price does seem high considering the site is just over half an acre. On a cost/area basis the cost of the property is $2.4 million per acre, even higher than Town Center properties such as Roger's Marketplace or Calvary Tabernacle. The property last sold in 2005 for $650,000.