Turnkey Restaurant and Nightclub
1925 21st Ave Forest Grove, OR 97116
1925 21st Ave, Forest Grove, OR, 97116
$1,900,000
For Sale
$1,900,000
Fully leased commercial building featuring a restaurant and nightclub and four established tenants with on-site parking.
Property Size10,000 SF
Price / SF$190
Days on Market97
Property Features for 1925 21st Ave
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1980
Listing agency
Premiere Property Group, LLC
(503) 481-1615
Listed by
Amber Morgan · License #201001153
(503) 481-1615
Source
Allprofessionalsre
Added: Apr 16 Updated: Jul 21 at 6:31AM Checked: Jul 21 at 6:31AM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
This nearly 10,000 sq ft commercial building is offered as a turnkey, fully leased asset operating at 100% occupancy. The sale includes Bullets, Burgers & Brews, along with associated business assets, and is supported by four established tenants.
The property is positioned in the heart of downtown Forest Grove along the annual Christmas parade route, and it also benefits from increased seasonal activity tied to the popular Wednesday Farmers Market. On-site parking includes approximately 15 private spaces, complemented by ample street parking. Detailed financials and lease information are available upon execution of a signed NDA.
The property is positioned in the heart of downtown Forest Grove along the annual Christmas parade route, and it also benefits from increased seasonal activity tied to the popular Wednesday Farmers Market. On-site parking includes approximately 15 private spaces, complemented by ample street parking. Detailed financials and lease information are available upon execution of a signed NDA.
Key Highlights
- Nearly 10,000 sq ft commercial building built in 1980, fully leased and operating at 100% occupancy
- Four established tenants provide diversified, stabilized income with 100% occupancy
- Sale includes Bullets, Burgers & Brews restaurant and nightclub plus associated business assets
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 | $216.0k | $21.60 |
| − Vacancy | −$9.7k | −$0.97 |
| EGI | $206.3k | $20.63 |
| − OpEx | −$51.6k | −$5.16 |
| NOI | $154.7k | $15.47 |
10,000 SF · lease $21.60/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.21M
$1.93M – $2.58M
NOI $154,710 @ 7.0% cap · market cap 8.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $188,947 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Fully leased commercial building featuring a restaurant and nightclub and four established tenants with on-site parking.
Where is this conventional restaurant located?
The property is located at 1925 21st Ave Forest Grove, OR.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Nearly 10,000 sq ft commercial building built in 1980, fully leased and operating at 100% occupancy; Four established tenants provide diversified, stabilized income with 100% occupancy; Sale includes Bullets, Burgers & Brews restaurant and nightclub plus associated business assets
