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2318 Pacific Ave 2,424 SF 100% Leased Office Building Forest Grove, OR 97116 $639,000 ($263.61/SF) 5.20% Cap Rate
Investment Highlights
- Traffic 15,000 vehicle/day
- Over 25 parking spaces
- Potential for Owner Occupy or 3rd Tenant
- TCT Zone uses include retail, office, repair oriented services, eating & drinking establishments, day care, or multi-family
Executive Summary
Single story office building on a 0.41 acre lot. This property is currently rented by long term tenants. Cement Block Building has 10 rooms or offices with three bathrooms. One unit (600sqft) has 3 rooms with one bathroom while the other unit (1824sqft) has 7 rooms/offices with a large storage room and two bathrooms. The larger unit could be easily divided to have a third commercial unit for owner use or new third tenant. Approximately 25 parking spaces available with building. The Town Center Transition (TCT) Zone commercial uses include retail, office, repair oriented services, eating & drinking establishments, day care, or multi-family units. Located near Pacific University and on a high traffic road with up to 15,000 vehicles per day.
Property is occupied. Please do not disturb tenants.
Property is occupied. Please do not disturb tenants.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$49,200
|
$20.30
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$49,200
|
$20.30
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$15,919
|
$6.57
|
| Net Operating Income |
$33,281
|
$13.73
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $49,200 |
| Annual Per SF | $20.30 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $49,200 |
| Annual Per SF | $20.30 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $15,919 |
| Annual Per SF | $6.57 |
| Net Operating Income | |
|---|---|
| Annual | $33,281 |
| Annual Per SF | $13.73 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
2,424 SF
Building Class
C
Year Built/Renovated
1950/2016
Price
$639,000
Price Per SF
$263.61
Cap Rate
5.20%
NOI
$33,228
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
2,424 SF
Slab To Slab
10’
Building FAR
0.14
Lot Size
0.41 AC
Zoning
TCT - Town Center Transition (TCT). The TCT zone is established to increase employment and housing opportunities in close proximity to the Town Center.
Parking
28 Spaces (11.55 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Stuntzner Engineering & Forestry Llc
- Professional, Scientific, and Technical Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Stuntzner Engineering & Forestry Llc | Professional, Scientific, and Technical Services | - | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R0421733 | Improvements Assessment | $0 (2026) |
| Land Assessment | $0 (2026) | Total Assessment | $268,780 (2026) |
Property Taxes
Parcel Number
R0421733
Land Assessment
$0 (2026)
Improvements Assessment
$0 (2026)
Total Assessment
$268,780 (2026)
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Contact the Sale Advisor
2318 Pacific Ave