1157 Forest AVE, Pacific Grove, CA 93950
1157 Forest AVE, Pacific Grove, CA 93950
1157 Forest AVE, Pacific Grove, CA 93950
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Eric Chu

Eric Chu

+1(650) 922-7449
Listed by Monterey Peninsula Home Team • KW Coastal Estates, DRE#70000352
$2,988,000
Est. payment /mo
3,259 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Commercial Property

Listing Status Active

Purchase Type For Sale

Square Footage 3,259 sqft

Price per Sqft $916

MLS Listing ID ML82037512

Year Built 1982

Lot Size 0.514 Acres

Property Sub-Type Commercial Property

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

Area Forest Hill

Zoning Comm

Interior

Heating Central Forced Air - Gas

Cooling Central Forced Air - Gas

Flooring Carpet, Concrete

Exterior

Parking Features Common Parking Area, Off-Street Parking

Garage Spaces 5.0

Utilities Available Public Utilities

Roof Type Tar and Gravel

Present Use 2nd Unit Possible,Business/Professional,Commercial,Food Service,Mini Storage,Mixed,Office,Retail,Service,Warehouse

Building

Story 1

Foundation Concrete Perimeter and Slab

Sewer Sewer - Public

Water Private / Mutual

Level or Stories 1

Others

Restrictions None

Tax ID 006-713-023-000

Miscellaneous Floor Drain,High Ceiling

Security Features Fire Alarm ,Fire System - Sprinkler,Fire System - Suppression,Security Alarm ,Varies by Unit

Special Listing Condition Not Applicable

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Eric Chu
Eric Chu

Agent | License ID: 02039805

+1(650) 922-7449 | eric@keyluxestates.com

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1157 Forest AVE