Advertise
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Forest Grove Leased Building Title is generated by Realmo AI

    1927 21st Ave, Forest Grove, OR

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Restaurant, bar, stage, dance floor, and arcade included.

    Type:RETAIL
    Property size:
    10,268 SF
    Lot size:
    0.51 Acres
    Price / SF:
    $243/SF
    Added:
    Jun 28, 2023
    Days on Market:
    1086
    Last Refresh:
    May 19 at 9:07 pm

    Property Features for 1927 21st Ave

    General Information

    Standard status
    Active
    Size
    10,268 SF
    Lot size
    0.51 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Tim Budelman

    Listing agent Tim Budelman

    Listing office Norris & Stevens, Inc. - Corporate

    Listing date Jun 28, 2023

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Norris & Stevens, Inc. - Corporate

    HighLights

    • Located in the heart of downtown Forest Grove, one of Oregon’s fastest growing cities.
    • Building currently 100% leased.
    • Diversity cafe includes a restaurant, bar, stage, dance floor and arcade.
    • Two blocks from Pacific University.
    • 16 parking spaces plus plenty of street parking.

    Overview

    This commercial property, currently 100% leased, is located in downtown Forest Grove, Oregon, a rapidly growing city. The building, which includes a restaurant, bar, stage, dance floor, and arcade, is situated two blocks from Pacific University. The property offers 16 parking spaces, supplemented by ample street parking. The building has a size of 10,268 square feet.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $221.8k $21.60
    − Vacancy −$10.0k −$0.97
    EGI $211.8k $20.63
    − OpEx −$53.0k −$5.16
    NOI $158.9k $15.47
    10,268 SF · lease $21.60/SF/yr · vacancy 4.50% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $2.27M
    $1.99M – $2.65M (±1% cap)
    NOI $158,856 @ 7.0% cap · market cap 6.35%
    Second Best
    Retail
    $1.66M
    $1.46M – $1.94M (±1% cap)
    NOI $116,439 @ 7.0% cap · market cap 4.66%
    Theoretical Best
    Office A
    $2.77M
    $2.43M – $3.23M (±1% cap)
    NOI $194,011 @ 7.0% cap · market cap 7.76%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Red Rooster Saloon — 2004 Main St #110, Forest Grove, OR 97116
    • Sips — 1106 Douglas St, Forest Grove, OR 97116
    • Diamond Palace — 1921 Main St, Forest Grove, OR 97116
    • Waltz Brewing — 1900 A St, Forest Grove, OR 97116
    • Ridgewalker Brewing — 1921 21st Ave, Forest Grove, OR 97116

    Location Insight

    • Map
    • Local Demand
    City
    Forest Grove
    County
    Washington
    State
    Oregon
    Longitude
    -123.113
    Latitude
    45.5213

    Nearby Similar for Sale

    • $975,000
      3,252 SF

      Updated Fourplex with Remodeled Units

      Four updated units with a leased majority and a vacancy available for showings, with owner-paid water, sewer, and garbage.
      2321 21ST Pl, ForestGrove, OR 97116
      View Details
    • $1,059,900
      3,552 SF

      Turnkey Forest Grove Quadplex Investment

      Income-producing quadplex in Forest Grove's Old Town district.
      1630 CEDAR St, ForestGrove, OR 97116
      View Details
    • $6,300,000
      27,077 SF

      Newer Construction Duplex Portfolio

      Fee simple duplex portfolio in Forest Grove, near Pacific University, offered with optional partial or full portfolio structures.
      1270 PACIFIC Ave, ForestGrove, OR 97116
      View Details
    • $2,500,000
      10,268 SF

      Downtown Forest Grove Leased Retail

      Fully leased retail property in downtown Forest Grove near Pacific University.
      1923-2104 Main Street, Forest Grove, OR 97116
      View Details
    • $6,300,000
      26,787 SF

      MULTI_FAMILY - ForestGrove, OR

      1270 Pacific Ave, Forest Grove, OR 97116
      View Details
    • $1,495,000
      6,348 SF

      Forest Grove Multifamily Investment Opportunity

      Well-maintained, 8-unit apartment complex with operational upside.
      3118-3124 19th Pl, Forest Grove, OR 97116
      View Details
    • $775,000
      3,936 SF

      Retail Space Near Pacific University

      Retail property with high visibility near Pacific University.
      1904 Elm St, Forest Grove, OR
      View Details
    • $1,249,000
      650 SF

      Multi Family

      2014 Main Street, Forest Grove, OR 97116
      View Details
    • $1,000,000
      12,000 SF

      Historic Building in Downtown

      Three-story building in downtown Forest Grove, across from Pacific University.
      2038 Pacific Ave, Forest Grove, OR 97116
      View Details
    • $7,750,000
      35,774 SF

      Fitness-Anchored Retail Center for Sale

      Fully leased retail center with mark-to-market upside.
      2333 Pacific Ave, Forest Grove, OR 97116
      View Details
    • Contact for pricing

      Commercial Property for Sale

      Commercial property available for sale in Forest Grove, Oregon.
      2530 10th Ave, Forest Grove, OR 97116
      View Details
    • $1,480,000
      11,921 SF

      Industrial Property with Office Space

      Industrial property featuring office, manufacturing, and storage spaces for sale.
      2221 Yew St, Forest Grove, OR 97116
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Restaurant, bar, stage, dance floor, and arcade included.
    Where is this bar & pub located?
    The property is located at 1927 21st Ave Forest Grove, OR.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Located in the heart of downtown Forest Grove, one of Oregon’s fastest growing cities.; Building currently 100% leased.; Diversity cafe includes a restaurant, bar, stage, dance floor and arcade.
    (503) 223-3171 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tim Budelman
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error
    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1927 21st Ave, Forest Grove, OR
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!