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    1822 21St Ave Forest Grove, OR 97116

    Sponsored
    For Sale
    $1,100,000

    High-Income Retail Investment

    Property size:
    5,055 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 5,055 square foot storefront, located in the heart of Downtown Forest Grove, Oregon, presents a compelling investment opportunity. Currently 100% occupied by a credit-rated government agency under a NNN lease with 3 years remaining on a 5-year term, this property boasts a strong income stream. Built in 1994 and extensively remodeled in 2019, the building features a new roof, HVAC systems (including kitchen HVAC), plumbing, electrical, and a cold room addition. The 2019 remodel was a complete gut renovation down to the studs. Ten designated parking spaces and a loading dock are located at the rear of the building. The property offers a 6.38% cap rate and low annual property taxes of $1,106. The ample parking (8 spaces per 1,000 sq ft) and prime location near Pacific University make this a truly turnkey investment. The lease includes rent bumps. This is a rare opportunity to acquire a well-maintained, high-performing retail property in a thriving Oregon community. Serious inquiries only. Please do not disturb the tenant. Located at 1822 21st Ave, Forest Grove, OR 97116.

    Property Features for 1822 21St Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    5,055 SF

    Building Details

    Year Built
    1994

    HighLights

    • $1,100,000 asking price for this 5,055 SF retail storefront.
    • Located at 1822 21st Ave, Forest Grove, OR 97116.
    • NNN lease, credit‑rated tenant, single tenancy with a 3‑year remaining lease term (5‑year total).
    • 100% occupancy with rent bumps included.
    • Built in 1994, featuring 8 parking spaces per 1,000 sq ft, a loading dock, and recently updated systems (2019 remodel).
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Forest Grove
    County
    Washington
    State
    Oregon
    Longitude
    -123.1146394
    Latitude
    45.5206864

    Nearby Comparable

    • $2,500,000
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      Downtown Forest Grove Leased Building

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      Historic Forest Grove Multi-Family Property

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      Development Opportunity in Forest Grove

      Development opportunity in Forest Grove's Town Center with potential SDC credits.
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      Retail property with high visibility near Pacific University.
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      Charming Forest Grove Condo

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      Forest Grove Commercial Land - 9.69 Acres

      Prime Oregon development land, R-7 zoning.
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      7-Acre Industrial Land Parcel

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      Forest Grove Industrial Land - 38.6 Acres

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    • Contact for pricing

      West Side Industrial Land

      Industrial land with easy highway access and wide range of uses.
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      Remodeled Home in Quiet Community

      3-bedroom, 2-bath manufactured home with modern kitchen and fenced yard.
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      Commercial Land Prime Location

      Commercial land with Community Commercial zoning in prime location.
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    Nearby Similar for Sale

    • New
      $959,000
      0.30 Acres

      Historic Forest Grove Multi-Family Property

      Historic Italianate home with modern ADU in Oregon wine country.
      1938 16Th Ave, Forest Grove, OR 97116
      View Details
    • $325,000

      Charming Forest Grove Condo

      Meticulously maintained 2-story condo with modern amenities and convenient location.
      2025 Elm St, Forest Grove, OR 97116
      View Details
    • $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
      3,936 SF

      Retail Space Near Pacific University

      Retail property with high visibility near Pacific University.
      1904 Elm St, Forest Grove, OR 97116
      View Details
    • $1,950,000
      11,921 SF

      2221 Yew St

      Manufacturing properties • 11,921 SF
      2221 Yew St, Forest Grove, OR 97116
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    FAQs

    What type of property is this?
    Individual retail property - High-Income Retail Investment
    Where is this individual retail property located?
    The property is located at 1822 21St Ave Forest Grove, OR.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: $1,100,000 asking price for this 5,055 SF retail storefront.; Located at 1822 21st Ave, Forest Grove, OR 97116.; NNN lease, credit-rated tenant, single tenancy with a 3-year remaining lease term (5-year total).
    Request Owner's contact information
    1822 21St Ave 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
    1822 21St Ave Forest Grove, OR 97116
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