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 Market1133
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) 225-8472
Listed By:
Tim Budelman
Source:
Moodyscre
Added: Jun 28, 2023
Changed: Jul 6
Last Checked: Jul 21 at 5:41AM
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
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 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 | $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 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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Red Rooster Saloon — 2004 Main St #110, Forest Grove, OR 97116
- Diamond Palace — 1921 Main St, Forest Grove, OR 97116
- Waltz Brewing — 1900 A St, Forest Grove, OR 97116
- The Growler Garage — 1837 Pacific Ave Suite 133, 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.
