Stonewood Center Shopping
New
For Sale
$5,500,000
3602 Pacific Ave, Forest Grove, OR 97116
Fully occupied retail center with a mix of service, food, banking, and coffee tenants.
Property Size14,000 SF
Price / SF$392.86
Days on Market1
Property Features for 3602 Pacific Ave
General Information
Standard status
Active
Size
14,000 SF
Total Parking Spaces
60
Property subtype
Retail
Zoning
CC
Occupancy
100%
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Anchor Co-Tenants
Sherwin-Williams, Black Rock Coffee
Traffic Count
35,000 vehicles/day
Additional Details
Tenant in Place
Yes
Building Details
Building Size
14,000 SF
Year Built
2018
Buildings
1
Tenancy
Multi
Listing Agency:
Macadam Forbes
Listed By:
Skip Rotticci, CCIM · License #OR #200204348
(503) 314-0527
Source:
Macadamforbes
Added: Nov 6
Last Checked: Nov 6 at 2:46PM
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 Macadam Forbes
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2018, Stonewood Center is a retail center occupied by Sherwin-Williams, Black Rock Coffee, Bank of America, Papa John's Pizza, Benchmark Physical Therapy, and The Yogurt Shop. Black Rock Coffee has a drive-through, and the property is zoned CC.
The center sits at a signal-controlled intersection on Pacific Avenue, which carries more than 35,000 cars per day. An additional retail/commercial pad is separately listed.
The center sits at a signal-controlled intersection on Pacific Avenue, which carries more than 35,000 cars per day. An additional retail/commercial pad is separately listed.
Key Highlights
- 100% occupied retail center
- 12,788 SF building, completed in 2018
- Tenants include Sherwin‑Williams, Black Rock Coffee, Bank of America, Papa John's Pizza, Benchmark Physical Therapy, and The Yogurt Shop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$158,760
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,175,200
$3.2M
Cap Rate 7%
$2,268,000
$2.3M
Cap Rate 9%
$1,764,000
$1.8M
Market Conditions
NOI Build-Up for 14,000 SF
Gross rent
$252.0K $18.00/SF
− Vacancy
−$25.2K −$1.80/SF
EGI
$226.8K $16.20/SF
− OpEx
−$68.0K −$4.86/SF
NOI
$158.8K $11.34/SF
Area
Washington County, OR
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,175,200
Cap Rate 7%
$2,268,000
Cap Rate 9%
$1,764,000
Alternative Uses
Best Use
Retail
$2.27M
$1.98M – $2.65M
NOI $158,760 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.78M
$3.31M – $4.41M
NOI $264,526 @ 7.0% cap · market cap 4.81%
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
Lease Details
35,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
126k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Shops & Services 25%
Home Improvements & Furnishings 10%
McDonald's
Dining
30,626 visits/mo
0.2 miles
Bi-Mart
Shops & Services
15,019 visits/mo
0.3 miles
Starbucks
Dining
11,860 visits/mo
0.2 miles
Ace Hardware
Home Improvements & Furnishings
9,444 visits/mo
0.0 miles
Popeyes Louisiana Kitchen
Dining
9,326 visits/mo
0.1 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
Similar Off Market Nearby
- Coinstar Kiosk - Bitcoin ATM — 2836 Pacific Avenue Safeway, Forest Grove, OR 97116
Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied retail center with a mix of service, food, banking, and coffee tenants.
Where is this shopping center located?
The property is located at 3602 Pacific Ave Forest Grove, OR.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 100% occupied retail center; 12,788 SF building, completed in 2018; Tenants include Sherwin‑Williams, Black Rock Coffee, Bank of America, Papa John's Pizza, Benchmark Physical Therapy, and The Yogurt Shop
