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Property profile & analytics
OFF-MARKET
Estimated value
$1,255,000
Theaters & concert halls
1923 Pacific Ave Forest Grove, OR 97116-2325
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US71-0790963
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1940
Total area
7,290 SF
Lot
0.37 ac (15,944 SF)
Zoning code
TCC
APN
1S306BB-02900
UPID
US71-0790963
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.26M
Owner & transaction history
City Of Forest Grove Urban Renewal · 1 yrs held
City Of Forest Grove Urban Renewal
since 2025
Last sale
$1.3M
6 recorded transactions
Zoning & alternative use
TCC · Forest Grove, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this zone is to provide a concentration of retail and office uses in a defined area
Zone name
Town Center Core 40.0 Dwelling Units Per Acre
General category
COMMERCIAL
Zone area
13.91 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Forest Grove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Forest Grove submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,265,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,020,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$1,630,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,620,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,270,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,185,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$1.26M
Range $1.13M – $1.38M · ±10% · vs last sale $1.25M (May 13 2025)
Last sale anchor
$1.25M
May 13 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$172 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,966
Tax year 2023
Assessed value
$530,890
Assessed 2023
Previous assessed
$515,430
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$279,660
Improvement market value
$709,790
Total market value
$989,450
Applied tax rate
15.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1940
Heating
NONE
Buildings
2
Total area
7,290 SF
Lot
0.37 ac (15,944 SF)
Zoning code
TCC
APN
1S306BB-02900
UPID
US71-0790963
Jurisdiction
WASHINGTON
Zoning & alternative use
TCC · Forest Grove, ORZoning TCC · permitted uses
TCC · Forest Grove, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this zone is to provide a concentration of retail and office uses in a defined area
Zone name
Town Center Core 40.0 Dwelling Units Per Acre
General category
COMMERCIAL
Zone area
13.91 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$2.0M
RETAIL STORES
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1940
Heating
NONE
Buildings
2
Lot
0.37 ac
Current owner
From public records · entity-resolved
City Of Forest Grove Urban Renewal
Entity
Mailing address
PO BOX 365, FOREST GROVE, OR 97116-0365
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 13, 2025
$1,254,425
City Of Forest Grove Urban Renewal
Jonathan Cirlincione
Warranty Deed
—
May 13, 2025
—
Jonathan Cirlincione
Fratelli Holdings LLC
Deed
related
—
Dec 13, 2021
$1,000,000
Fratelli Holdings LLC
Prosteel Builders LLC
Warranty Deed
$750,000 · Prosteel Builders LLC
—
—
Prosteel Builders LLC
—
Deed Of Trust
related
$825,000 · First Technology FCU
—
—
Prosteel Builders LLC
—
Deed Of Trust
related
$825,000 · First Technology FCU
—
—
Prosteel Builders LLC
—
Deed Of Trust
related
$400,000 · Columbia Community FCU
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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