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    Terrawood St Forest Grove, OR 97116

    Sponsored
    For Sale
    $750,000

    Prime Oregon development land, R-7 zoning.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 9.69-acre commercial land parcel presents a compelling investment opportunity in Forest Grove, Oregon. Located in Washington County, with a 97116 zip code, this property is strategically positioned on the city border, within the urban growth boundary. The land comprises two tax lots totaling 9.69 acres, specifically 6.48 acres and 3.21 acres. The versatile R-7 zoning designation unlocks significant development potential, making it particularly attractive to residential developers seeking to contribute to the area's rapid growth. The substantial 6.5 acres of developable land offers ample space for a variety of projects. This offering includes both parcels sold together, providing a cohesive and sizable landholding ready for immediate development. The property's location at the edge of the city and within the urban growth boundary ensures access to existing infrastructure and future expansion possibilities. With its prime location and flexible zoning, this property represents a rare chance to capitalize on the thriving Forest Grove real estate market. The coordinates are 45.5235039 latitude and -123.1300872 longitude. The asking price for this exceptional property is $750,000.

    Property Features for 0 Terrawood St

    General Information

    Property type
    Land
    Lot Size
    422,096 SF

    HighLights

    • 9.69‑acre commercial land parcel in Forest Grove, OR (97116), including approximately 6.5 acres of developable land.
    • Versatile R‑7 zoning allows for significant development potential.
    • Opportunity for substantial expansion within the urban growth boundary.
    • Two tax lots (6.48 acres and 3.21 acres) sold together as a single offering.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Forest Grove
    County
    Washington
    State
    Oregon
    Longitude
    -123.1300872
    Latitude
    45.5235039

    Nearby Comparable

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    Nearby Similar for Sale

    • New
      $959,000
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      Historic Forest Grove Multi-Family Property

      Historic Italianate home with modern ADU in Oregon wine country.
      1938 16Th Ave, Forest Grove, OR 97116
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      2025 Elm St, Forest Grove, OR 97116
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    • $169,900

      Remodeled Home in Quiet Community

      3-bedroom, 2-bath manufactured home with modern kitchen and fenced yard.
      3831 Pacific Ave, Forest Grove, OR 97116
      View Details
    • $2,500,000
      10,268 SF

      Downtown Forest Grove Leased Building

      Restaurant, bar, stage, dance floor, and arcade included.
      1927 21St Ave, Forest Grove, OR 97116
      View Details
    • $775,000
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      Retail Space Near Pacific University

      Retail property with high visibility near Pacific University.
      1904 Elm St, Forest Grove, OR 97116
      View Details
    • $1,100,000
      5,055 SF

      Downtown Forest Grove Storefront

      High-Income Retail Investment
      1822 21St Ave, Forest Grove, OR 97116
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    • $1,950,000
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      2221 Yew St

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    FAQs

    What type of property is this?
    Land - Prime Oregon development land, R-7 zoning.
    Where is this land located?
    The property is located at Terrawood St Forest Grove, OR.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: 9.69-acre commercial land parcel in Forest Grove, OR (97116), including approximately 6.5 acres of developable land.; Versatile R-7 zoning allows for significant development potential.; Opportunity for substantial expansion within the urban growth boundary.
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    Terrawood St Forest Grove, OR 97116
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    Forest Grove, OR 97116
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Terrawood St Forest Grove, OR 97116
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