1157 Forest Avenue, Pacific Grove, CA 93950
1157 Forest Avenue, Pacific Grove, CA 93950
1157 Forest Avenue, Pacific Grove, CA 93950
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Keller Williams Walnut Creek

Keller Williams Walnut Creek

+1(100) 000-0000
Listed by KW Coastal Estates
$2,988,000
Est. payment /mo
8,402 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Comm Ind For Sale

Listing Status Active

Purchase Type For Sale

Square Footage 8,402 sqft

Price per Sqft $355

MLS Listing ID ML82037512

HOA Y/N No

Year Built 1982

Lot Size 0.514 Acres

Property Sub-Type Comm Ind For Sale

Source Datashare MLSListings

Property Description

1157 Forest Avenue presents a rare mixed-use investment opportunity in one of the Monterey Peninsula's most desirable commercial corridors. Located directly across from Trader Joe's and within a block of Safeway and Lucky, the property benefits from exceptional visibility and daily traffic counts of approximately 17,663 vehicles. The 8,402 square-foot building sits on a large 22,651 square-foot lot and is currently home to nine tenants, including a popular pizzeria, professional service providers, a hair salon, a window showroom, and two residential one-bedroom apartments. Beyond its current income, the property offers significant upside and redevelopment potential. Under the city's updated zoning framework designed to encourage higher-density housing, the site may support redevelopment of up to 24 market-rate residential units (buyer to verify). Additional income potential exists through tenant improvements or changes in use if a cannabis retail license is secured, or if portions of the warehouse space are converted to additional residential units. This combination of stable existing income, exceptional location, and long-term development potential makes 1157 Forest Avenue a uniquely compelling investment opportunity in Pacific Grove.

Location

State CA

County Monterey

Interior

Flooring Concrete

Fireplace No

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Keller Williams Walnut Creek

Keller Williams Walnut Creek

+1(100) 000-0000

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1157 Forest Avenue