$1,800,000
Listed at $2,099,0004 bd•1.5 ba•2,260 sq ft
7204 78th Avenue Se, Mercer Island, WA 98040
• Listed 2026-05-08
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Exceptional Development Opportunity on Mercer Island. A generous 22,000 sq ft corner lot in one of MI’s most desirable neighborhoods. Site Development permitting is in process. The lot’s regular shape supports optimal design flexibility, allowing future homes to maximize the 40% FAR. Enjoy an unbeatable location just minutes from the lake, parks, shopping, and top-rated schools—all within walking distance. An existing home on the property has been modestly updated. Whether you’re a builder, investor, or homeowner with vision, this is a prime opportunity to capitalize on the scarcity of developable land on MI. Bring your team and start the permitting process.
Open houses
No upcoming open houses scheduled for this property.
Nearby open houses (3)
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Open Sat, Sep 5$1,937,000
+$137,000 over list price
Nearby comparable homes
RexMont uses 5 strongest recent nearby sales, priced between $1.8M and $2.4M.
Rental earnings
$5,800/mo
Screening estimate from the comp-supported value. Verify with rent comps before underwriting.
$1,800,000Last sold price
7204 78th Avenue Se, Mercer Island, WA 98040
$2,190,000Last sold price
8407 Se 69th Place, Mercer Island, WA 98040
Estimate is a comp-supported screen, not an appraisal or broker price opinion. Ask RexMont for a property-specific pricing review before writing or accepting an offer.
Neighborhood mobility
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MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of August 24, 2026 at 04:53pm (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
© 2026 Northwest Multiple Listing Service. All rights reserved.
Equal Housing Opportunity. RexMont Real Estate is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
Listed by Xia Zhao • John L. Scott, Inc.
Listing updated: August 24, 2026 at 04:53pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2520530
Open Sat, Sep 5 +1
Open Sun, Sep 6
$2,195,000
7235 87th Avenue Se, Mercer Island, WA 98040
Christy Beach · Redfin
Mercer Island is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Well-priced homes draw multiple offers; others sell close to asking.
List to sale price: The average home sells for about 1% below list price.
Time on market: The average home goes pending in around 6 days.
$215,000 Sold
8 weeks ago
•Single Family
9167 Se 64th Street, Mercer Island, WA 98040
43%
Under list
—
Days on market
1.0 mi
Distance
$2,498,000 Sold
2 months ago
5 bd•2.5 ba•~3,480 sq ft•Single Family
8255 Se 59th Street, Mercer Island, WA 98040
0%
Over list
—
Days on market
0.9 mi
Distance
$2,450,000 Sold
3 months ago
4 bd•2.25 ba•~3,020 sq ft•Single Family
8440 W Mercer Way, Mercer Island, WA 98040
2%
Under list
—
Days on market
0.8 mi
Distance
$2,825,000 Sold
3 months ago
4 bd•2.75 ba•~4,100 sq ft•Single Family
6749 82nd Avenue Se, Mercer Island, WA 98040
4%
Under list
—
Days on market
0.3 mi
Distance
$7,401,101 Sold
3 months ago
6 bd•7 ba•~6,092 sq ft•Single Family
7439 W Mercer Way, Mercer Island, WA 98040
6%
Under list
—
Days on market
0.4 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Sep 2026
School information is unavailable for this listing. School boundaries can change, so verify the assigned schools with the district before purchasing.
