Restaurant Building with Private
For Sale
$1,900,000
1925 21ST Ave, Forest Grove, OR 97116
CommercialSale, ForestGrove, OR
Property Size9,881 SF
Lot Size0.51 Acres
Price / SF$192.29
Days on Market178
Property Features for 1925 21ST Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
TCC
View
City
Directions
21st x Main
Subdivision
_152
Standard status
Active
APN
R746599
Size
9,881 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Description
WALKERS ADDITION TO THE TOWN OF FOREST GROVE, BLOCK 2, LOT PT 1
Tax Annual Amount
11225
Legal Description
WALKERS ADDITION TO THE TOWN OF FOREST GROVE, BLOCK 2, LOT PT 1
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1980
Building materials
Concrete, WoodFrame
Roof type
Flat
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
Amber Morgan · License #201001153
(503) 481-1615
Added: Apr 16
Changed: Jul 7
Last Checked: Oct 10 at 11:06AM
MLS# 719499867
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 9,881-square-foot commercial building sits on a 0.51-acre parcel and is configured for restaurant and entertainment uses. Constructed in 1980, the property features concrete and wood-frame construction, a flat roof, forced-air heat, and central air conditioning. The offering includes the Bullets, Burgers & Brews restaurant and nightclub business, together with associated business assets.
The building is fully occupied by four tenants and includes approximately 15 private parking spaces, supplemented by street parking. Located in downtown Forest Grove along 21ST Ave, the property is positioned near surrounding businesses and community events, including the annual Christmas parade route and Wednesday Farmers Market. Zoning is TCC.
The building is fully occupied by four tenants and includes approximately 15 private parking spaces, supplemented by street parking. Located in downtown Forest Grove along 21ST Ave, the property is positioned near surrounding businesses and community events, including the annual Christmas parade route and Wednesday Farmers Market. Zoning is TCC.
Key Highlights
- 9,881‑square‑foot commercial building on 0.51 acres
- Fully occupied by four tenants
- Includes Bullets, Burgers & Brews restaurant and nightclub business assets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$152,869
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,057,380
$3.1M
Cap Rate 7%
$2,183,843
$2.2M
Cap Rate 9%
$1,698,544
$1.7M
Market Conditions
NOI Build-Up for 9,881 SF
Gross rent
$213.4K $21.60/SF
− Vacancy
−$9.6K −$0.97/SF
EGI
$203.8K $20.63/SF
− OpEx
−$51.0K −$5.16/SF
NOI
$152.9K $15.47/SF
Area
Washington County, OR
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,057,380
Cap Rate 7%
$2,183,843
Cap Rate 9%
$1,698,544
Alternative Uses
Best Use
Specialty Retail
$2.18M
$1.91M – $2.55M
NOI $152,869 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.67M
$2.33M – $3.11M
NOI $186,699 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
748
Businesses Nearby
27k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Shops & Services 40%
Dutch Bros. Coffee
Dining
14,309 visits/mo
0.5 miles
Chevron
Shops & Services
6,307 visits/mo
0.4 miles
Wells Fargo
Shops & Services
2,477 visits/mo
0.2 miles
Pizza Hut
Dining
1,343 visits/mo
0.4 miles
H&R Block
Shops & Services
1,253 visits/mo
0.4 miles
Demographics for 97116, OR
29,351
Population
10,229
Households
2.9
Avg Household Size
36
Median Age
33%
College-Educated
90%
High-School Grad
82.1 sq mi
ZIP Area
358
Density / Sq Mi
$87,308
Median Household Income
$42,330
Median Earnings
$1,397
Median Rent
$479,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully leased restaurant property with four tenants, on-site parking, and included operating business assets.
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: 9,881‑square‑foot commercial building on 0.51 acres; Fully occupied by four tenants; Includes Bullets, Burgers & Brews restaurant and nightclub business assets
