Listed by A.G. Davi Property Management
$2,900,000
Retail Center w 2apts across from Trader Joes
Details
APN 006-713-023
Property Type Retail, Multifamily
Sub Type Apartment Building, Shopping Center
Square Footage 8,402
Units 2
Cap Rate 5.80%
NOI $165,676
Occupancy 100%
Tenancy Multi
Lease Type NNN
Pro-Forma Cap Rate 6.60%
Pro-Forma NOI $192,136
Price per SqFt $339
Year Built 1982
Acreage 0.520
Zoning COMMERCIAL / MIXED USE
Parking Spaces 24 spaces
Parking Per SqFt 2.86
Investment Type Value Add
Ground Lease No
Retail | 5.80% CAP | 8,402 SqFt
Marketing description
1157 Forest Avenue is a 100% occupied mixed-use asset strategically located in the heart of Pacific Grove's Forest Hill commercial corridor.
The property features a diverse tenant mix including retail, industrial-flex suites, and residential units—providing stable in-place income with long-term upside potential.
Ideally positioned along a high-traffic corridor connecting Highway 68 to Monterey, Pebble Beach, and Carmel, the asset also offers future development potential for up to 23 ocean-view apartment units (subject to approvals).
Investment highlights
- 100% OCCUPIED Mixed-Use Asset with Stable Income
- PREMIER LOCATION Serving Monterey, Pebble Beach & Carmel
- FUTURE UPSIDE Potential for up to 23 Ocean-View Apartments (Subject to Approvals)
- STRONG DEMOGRAPHICS Affluent Coastal Community with High Tourism Demand
- TRAFFIC COUNT: 17,663 CARS PER DAY ON FOREST AVE
- TOTAL BUILDING SIZE: 8,402 SF
- NUMBER OF TENANTS: 2 Apartments and 6 Commercial
- PARKING SPACES: 24 or more
- PARKING RATIO: 3 per 1000 SF
- LOT SIZE: 22,651 SF (0.52 Acres)
Listing Contacts
Listed by A.G. Davi Property Management
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$165,675.68
$13,806.31/mo
Valuation Metrics
0
DSCR
5.71%
Cap Rate
5.71%
ROI
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