1822 21St Ave Forest Grove, OR 97116
- Retail space
- 5,055 SF
- 0.36 lot acres
Current Use by Public Records
- Retail space
Property Details for 1822 21St Ave
- Lot size
- 0.36 lot acres
- Property size
- 5,055 SF
- Zone code
- TCT
- Property type
- Retail space
- APN
- 1S306BB-03501
- APU
- 1S306BB03501
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Forest Grove
- County
- Washington
- State
- Oregon
- Longitude
- -123.115
- Latitude
- 45.5206
- CBSA code
- 38900
- CBSA name
- PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA
