Established Restaurant with Fee Simple Real
For Sale
Contact for pricing
4450 Pacific Avenue, Forest Grove, OR 97116
Operating restaurant with banquet, lottery, ATM, and ancillary revenue streams.
Property Size8,860 SF
Lot Size2.94 Acres
Price / SF$330.14
Days on Market69
Property Features for 4450 Pacific Avenue
General Information
Standard status
Active
Size
8,860 SF
Total Parking Spaces
120
Lot size
2.94 Acres
Property subtype
Retail, Business for Sale
Zoning
CC
Occupancy
100%
Investment Type
Owner/User
Site & Location
Traffic Count
21,200 vehicles/day
Road Access
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Equipment Included
Yes
Building Details
Year Built
2014
Year Renovated
2015
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Seattle
Listed By:
Clayton J. Brown · License #SP56979
(206) 826-5787
Source:
Crexi
Added: Aug 17
Changed: Oct 23
Last Checked: Oct 23 at 6:39AM
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 Marcus & Millichap - Seattle
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Investment Insights
Based on property information with market context.
The offering combines an operating restaurant with the underlying fee simple real estate, furniture, fixtures, equipment, and trade fixtures. The building contains 8,860 square feet across multiple levels, with flexible floor plans suited to restaurant operations and banquet events. Additional income sources include lottery sales, ATM income, and other ancillary activities.
The property occupies approximately 2.94 acres on Pacific Avenue in Forest Grove, Oregon, with approximately 580 feet of frontage and 21,200+ VPD. Two dedicated ingress and egress points serve the site, which includes 120 on-site parking spaces. The surrounding retail corridor includes numerous national retailers.
Community Commercial zoning supports a range of commercial, mixed-use, and residential uses, including the potential for approximately 88 residential units. The restaurant also has more than 2,360 Google reviews.
The property occupies approximately 2.94 acres on Pacific Avenue in Forest Grove, Oregon, with approximately 580 feet of frontage and 21,200+ VPD. Two dedicated ingress and egress points serve the site, which includes 120 on-site parking spaces. The surrounding retail corridor includes numerous national retailers.
Community Commercial zoning supports a range of commercial, mixed-use, and residential uses, including the potential for approximately 88 residential units. The restaurant also has more than 2,360 Google reviews.
Key Highlights
- 8,860‑square‑foot restaurant across multiple levels on approximately 2.94 acres
- Approximately 580 feet of frontage along Pacific Avenue with 21,200+ VPD
- Two dedicated ingress and egress points and 120 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,073
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,741,460
$2.7M
Cap Rate 7%
$1,958,186
$2.0M
Cap Rate 9%
$1,523,033
$1.5M
Market Conditions
NOI Build-Up for 8,860 SF
Gross rent
$191.4K $21.60/SF
− Vacancy
−$8.6K −$0.97/SF
EGI
$182.8K $20.63/SF
− OpEx
−$45.7K −$5.16/SF
NOI
$137.1K $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%
$2,741,460
Cap Rate 7%
$1,958,186
Cap Rate 9%
$1,523,033
Alternative Uses
Best Use
Specialty Retail
$1.96M
$1.71M – $2.28M
NOI $137,073 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,407 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
21,200 VPD
Traffic count
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
154k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 64%
Dining 21%
Shops & Services 15%
Walmart
Superstores
99,288 visits/mo
0.2 miles
Taco Bell
Dining
17,695 visits/mo
0.0 miles
7-Eleven
Shops & Services
10,515 visits/mo
0.1 miles
Carl's Jr.
Dining
9,434 visits/mo
0.1 miles
SUBWAY
Dining
4,731 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
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant with banquet, lottery, ATM, and ancillary revenue streams.
Where is this conventional restaurant located?
The property is located at 4450 Pacific Avenue Forest Grove, OR.
What is the asking price?
The asking price for this property is $2,925,000.
What are key features of this property?
This property features: 8,860‑square‑foot restaurant across multiple levels on approximately 2.94 acres; Approximately 580 feet of frontage along Pacific Avenue with 21,200+ VPD; Two dedicated ingress and egress points and 120 on‑site parking spaces
