Downtown Forest Grove Leased
For Sale
Contact for pricing
1927 21st Ave, Forest Grove, OR
Restaurant, bar, stage, dance floor, and arcade included.
Property Size10,268 SF
Lot Size0.51 Acres
Price / SF$243.47
Days on Market1224
Property Features for 1927 21st Ave
General Information
Standard status
Active
Size
10,268 SF
Lot size
0.51 Acres
Property subtype
RETAIL
Listing Agency:
Norris & Stevens, Inc. - Corporate
(503) 223-3171
Listed By:
Tim Budelman
(503) 225-8472
Source:
Moodyscre
Added: Jun 28, 2023
Changed: Oct 25
Last Checked: Nov 1 at 9:21AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$158,856
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,177,120
$3.2M
Cap Rate 7%
$2,269,371
$2.3M
Cap Rate 9%
$1,765,067
$1.8M
Market Conditions
NOI Build-Up for 10,268 SF
Gross rent
$221.8K $21.60/SF
− Vacancy
−$10.0K −$0.97/SF
EGI
$211.8K $20.63/SF
− OpEx
−$53.0K −$5.16/SF
NOI
$158.9K $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%
$3,177,120
Cap Rate 7%
$2,269,371
Cap Rate 9%
$1,765,067
Alternative Uses
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
27k
Monthly Visits Nearby
Well-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
0.4 miles
Chevron
Shops & Services
6,307 visits/mo
0.4 miles
Wells Fargo
Shops & Services
2,477 visits/mo
0.0 miles
Pizza Hut
Dining
1,343 visits/mo
0.4 miles
H&R Block
Shops & Services
1,253 visits/mo
0.4 miles
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
Similar Off Market Nearby
- Sips — 1106 Douglas St, Forest Grove, OR 97116
- Waltz Brewing — 1900 A St, Forest Grove, OR 97116
- Red Rooster Saloon — 2004 Main St #110, Forest Grove, OR 97116
- Diamond Palace — 1921 Main St, Forest Grove, OR 97116
- Ridgewalker Brewing — 1921 21st Ave, Forest Grove, OR 97116
Frequently Asked Questions
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.
