Downtown Forest Grove Leased
1923-2104 Main Street, Forest Grove, OR 97116
Fully leased retail property in downtown Forest Grove near Pacific University.
Type:Retail
Property size:
10,268 SFPrice / SF:
$243/SF- Added:
- Jan 27, 2026
- Days on Market:
- 110
- Last Refresh:
- Apr 6 at 1:02 am
Property Features for 1923-2104 Main Street
General Information
- Standard status
- Active
- Size
- 10,268 SF
- Property subtype
- Retail
Listing agent Tim Budelman (503) 225-8472
Listing office Norris & Stevens, Inc. - Corporate (503) 225-8472
Listing date Jan 27, 2026
Source Tcnworldwide
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
- 100% leased building providing immediate income.
- Prime location in downtown Forest Grove, a rapidly growing city in Oregon.
- Includes Diversity Cafe, featuring a restaurant, bar, stage, dance floor, and arcade.
- Proximity to Pacific University (two blocks away).
- Substantial total square footage (± 10,268 SF) including Diversity Cafe, B’Lynn’s Candy, and meeting space.
- On‑site parking (16 spaces) plus ample street parking.
Overview
The property, totaling approximately 10,268 square feet, is located in downtown Forest Grove, one of Oregon’s fastest-growing cities, and is situated two blocks from Pacific University. The building is currently 100% leased. It includes Diversity Cafe, which features a restaurant, bar, stage, dance floor, and arcade (approximately 8,469 square feet); B’Lynn’s Candy (approximately 1,451 square feet); and a meeting space (approximately 348 square feet). There are 16 parking spaces available, along with ample street parking.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$1.77M
NOI $158,856 @ 9.00% cap · cautious / downside scenario
Moderate
$2.27M
NOI $158,856 @ 7.00% cap · market / base-case scenario
Aggressive
$3.18M
NOI $158,856 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Specialty Retail
| 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 Use Scenarios
Best Use
Specialty Retail
$2.27M
$1.99M – $2.65M
NOI $158,856 @ 7.0% cap · market cap 6.35%
Second Best
Retail
$1.66M
$1.46M – $1.94M
NOI $116,439 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$2.77M
$2.43M – $3.23M
NOI $194,011 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Shopping centers
Location Insight
- Map
- Local Demand
- City
- Forest Grove
- County
- Washington
- State
- Oregon
- Longitude
- -123.112
- Latitude
- 45.5191
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Fully leased retail property in downtown Forest Grove near Pacific University.
Where is this shopping center located?
The property is located at 1923-2104 Main Street 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: 100% leased building providing immediate income.; Prime location in downtown Forest Grove, a rapidly growing city in Oregon.; Includes Diversity Cafe, featuring a restaurant, bar, stage, dance floor, and arcade.
