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1157 Forest Ave 8,402 SF 95% Leased Retail Building Pacific Grove, CA 93950 $2,950,000 ($351.11/SF) 6.70% Cap Rate
Executive Summary
Investment opportunity 6 Retail Tenants with 2 apartments - potential to expand to 7 more apartments and retain the best retail. Across from Trader Joe's., units would have amazing ocean views if you go up a story off Street parking excellent long-term tenants the three main retail are over 20 years. Potential canabis tenant in 2 retail spaces will know soon when the lottery is finished with Pacific Grove.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,402 SF
Building Class
B
Year Built
1982
Price
$2,950,000
Price Per SF
$351.11
Cap Rate
6.70%
NOI
$197,558
Percent Leased
95%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.37
Lot Size
0.52 AC
Zoning
Retail Commercial - commercial
Amenities
- Skylights
Space Availability
- Space
- Size
- Space Use
- Position
- Available
This unit is hard to locate behind the window store the back corner of the building, Simply a single room with another room that could be a rest room
| Space | Size | Space Use | Position | Available |
| A-3 | 450 SF | Office/Retail | - | Now |
A-3
| Size |
| 450 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
A-3
| Size | 450 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | Now |
This unit is hard to locate behind the window store the back corner of the building, Simply a single room with another room that could be a rest room
Walk Score®
Very Walkable (82)
Nearby Major Retailers
Property Taxes
| Parcel Number | 006-713-023-000 | Total Assessment | $1,132,433 (2025) |
| Land Assessment | $677,006 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $455,427 (2025) | Tax Year | 2023 |
Property Taxes
Parcel Number
006-713-023-000
Land Assessment
$677,006 (2025)
Improvements Assessment
$455,427 (2025)
Total Assessment
$1,132,433 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
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1157 Forest Ave
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