For Sale
$1,100,000

1822 21St AveForest Grove, OR 97116

High-Income Retail Investment

Overview

Added:
Dec 11, 2024
Days on market:
125
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.

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 Details for 1822 21St Ave

Property type
Retail properties, Retail space
Square Feet
5,055 SF
Year Built
1994

Location Insight

City
Forest Grove
County
Washington
State
Oregon
Latitude
45.5206864
Longitude
-123.1146394
1822 21St Ave, Forest Grove, Oregon

FAQs

What type of property is this?
Retail property - High-Income Retail Investment
Where is the 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).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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1822 21St Ave
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