Three Neighboring Properties For Sale With Calvary Tabernacle Property

The Calvary Tabernacle property at 236th/56th has been on the market for some time, originally being listed in April 2013. While the listing has always said the property was 1.2 acres, not until yesterday did the listing mention that the 3 single family homes behind the church on 55th Ave W would be included in the sale as well. Below are the original and new listing photos and descriptions.

Development parcel across street from being built Arbor Village Apartment`s or excellent church facility with room for expansion and more parking OR development parcel.

Mixed Use development site located in the CBD of Mountlake Terrace. Minutes to I-5, Ballinger Way, and I-5 park and ride lot. Presently being used as a church and 3 SFR. West 3 lots zoned MD/MU 5 story, East 3 lots 2 or 3 story live and work or townhomes. Residential rents in area approximately $1.62/sf. This area is very handy to transportation corridors going North, South, East and West and is rapidly being redeveloped. 123 unit project to the S 70% rented rents averaging $1.62/sf.

The west 3 lots on 56th are where the church is currently located. According to the Snohomish County Assessor's office, the east 3 properties located on 55th are owned by the pastor of Calvary Tabernacle and currently contain single family residences.

Together the 6 parcels are 1.20 acres, nearly the size of the Arbor Village property across the street which is 1.26 acres. What makes these properties interesting, though, is that the 3 west properties along 56th are in a different Town Center building district than the 3 east properties along 55th. The properties along 56th are zoned the same as Arbor Village, which allows up to 5 stories and requires commercial space at street level. The properties along 55th are zoned "transitional" which allows 2 or 3 story live and work units or townhouses. It will be interesting to see if the properties can all be sold together and, if so, what type of development might be built considering the two different building districts.


Transit Oriented Development in Mountlake Terrace

Under Construction: Vineyard Park