1822 21st Ave Forest Grove, OR 97116
Profitable restaurant space with long-term tenant and NNN lease.
Type:Office, Retail
Property size:
5,055 SF- Added:
- Oct 15, 2024
- Days on Market:
- 551
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 1822 21st Ave
General Information
- Standard status
- Active
- Size
- 5,055 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1994
Listing agent Allen Riddle License #OR 200203103
Listing office MORE Realty
Listing date Oct 15, 2024
Source Crexi
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 MORE Realty
Overview
Established Restaurant Space for Sale
The property at 1822 21st Ave, Forest Grove, OR 97116, is a 5,055 square foot retail space currently operating as a restaurant. The tenant's current rent is $6,025.00 per month under a full NNN lease. The tenant is responsible for all titles, and all titles have been switched into the tenant's name. The tenant receives tax abatement for property taxes through a county-run program, and any tax bills are sent to them for payment. The sale includes all fixed items in the kitchen, such as the cold room, cold room air-conditioning units (maintained by the tenant), all sinks on walls, and both hood systems. The majority of the IT rack system in the IT room is also included in the sale, but the IT system itself will be sold separately. The tenant's funding is secured through a long-term grant from the county, which they have had for many years and are expected to continue receiving. The only cost covered by the current owner is landscaping, which involves a monthly leaf blow of the premises at a cost of $30 per month. This cost could be negotiated and built into future lease dates.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Forest Grove
- County
- Washington
- State
- Oregon
- Longitude
- -123.1146658
- Latitude
- 45.5206201
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Profitable restaurant space with long-term tenant and NNN lease.
Where is this retail space located?
The property is located at 1822 21st Ave Forest Grove, OR.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Fully leased property with a long‑term tenant paying $6025.00/month under a Full NNN lease.; Tenant benefits from a tax abatement program through the county.; Ownership includes valuable fixed kitchen assets: cold room, cold room air‑conditioning units, sinks, and hood systems.
