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4820 196th St SW
Lynnwood, WA 98036

Land For Sale · 0.91 AC

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Investment Highlights

Heavy Traffic & Light Rail
Opportunity Zone & Heritage Bank Comm Dev Loan

Future Upzone to PCD Mixed use - May 2025

Executive Summary

Vacant Land (0.91 Acres) on 196th St - Transit Oriented Development (TOD), Former Alfy's Pizza. Mostly level and cleared and blocks from Light Rail Station (0.3 miles). Located within Opportunity Zone allowing deferred, reduced, or excluded gains tax and eligible Heritage Bank Community Development Loan. Currently Zoned General Commercial and undergoing a review/revision to Planned Commercial Development (PCD), which would allow for residential mixed use. No height restriction. Ideal for podium construction with ground level retail, upper levels for office and residential. City to complete new zoning by May 2025. The one you've been waiting for!

PROPERTY FACTS

Sale Type	Owner User	Proposed Use	Commercial Retail Mixed Use
No. Lots	1	Total Lot Size	0.91 AC
Property Type	Land	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Commercial

Sale Type	Owner User
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Commercial Retail Mixed Use
Total Lot Size	0.91 AC
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

1 Lot Available

Lot 0060840020

Lot Size	0.91 AC

Lot Size	0.91 AC

0.91 Acre, 39,640 Square Feet, 293' X 193'

Description

Formerly Alfy's Pizza. Building burned and was removed. Vacant Land with permit ready project as 2 story, 14,000 SF commercial building, retail on ground and office on 2nd story. Rectangular and mostly level lot fronting 196th St SW and within 0.3 miles of Light Rail Station.

PROPERTY TAXES

Parcel Number	006084-002-001-03	Improvements Assessment	£0
Land Assessment	£1,374,614	Total Assessment	£1,374,614

PROPERTY TAXES

Parcel Number

006084-002-001-03

Land Assessment

£1,374,614

Improvements Assessment

£0

Total Assessment

£1,374,614

zoning

Zoning Code	GC (Current Zoning is General Commercial and is presently under revision for PCD - Planned Commercial Development, Mixed Use.)
GC (Current Zoning is General Commercial and is presently under revision for PCD - Planned Commercial Development, Mixed Use.)

Listing ID: 34024805
Date on Market: 27/11/2024
Last Updated:
Address: 4820 196th St SW, Lynnwood, WA 98036

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