3127 Pacific AveForest Grove, OR 97116

Property Details for 3127 Pacific Ave

Lot size

1.54 AC

Property size (Sq ft)

6,240 SF

Zone code

CC

Property type

Auto shops

APN

1N332CC-04500

APU

1N332CC04500

Description

This exceptional 1.54-acre commercial land parcel presents a remarkable investment opportunity in the thriving Forest Grove, Oregon market. Located at 3127 Pacific Avenue, this property boasts 130+ feet of frontage, providing excellent visibility and accessibility. Zoned for Community Commercial use, the site allows for a diverse range of development options, including retail, commercial lodging, fast food establishments, office space, medical facilities, and mixed-use or multifamily projects. The land is priced at $1,677,000, or $25 per square foot, reflecting its prime location and development potential. Forest Grove, a rapidly growing community just 30 minutes southwest of Portland, benefits from its proximity to major employment centers in Hillsboro and Beaverton, while maintaining a desirable rural suburban atmosphere. The area's robust growth, exceeding typical demographic projections, is driven by high demand and limited land availability. This presents a unique chance to capitalize on the ongoing expansion of Forest Grove and its surrounding agricultural and wine communities. The property's versatility and strategic location make it an ideal site for owner-users or developers seeking to establish a presence in this dynamic market. The Washington County location and 97116 zip code further enhance its appeal.

• CAP approach

  CAP return

  Valuation

  6%

  $2,086,249

  6.5%

  $1,925,768

  7%

  $1,788,214

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,105,748

  Geo Method

  $3,028,282

• Alternative Use

  Use

  Valuation

  Residential

  $1,624,458

  Hospitality

  $1,487,994

  Educational

  $1,237,994

  Medical

  $1,280,570

  Retail

  $1,925,768

Location Insight

City

Forest Grove

County

Washington

State

Oregon

Latitude

45.5208

Longitude

-123.091

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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