About 1157 Forest Ave
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.
Features of 1157 Forest Ave
| MLS® # | ML82037512 |
|---|---|
| Price | $2,988,000 |
| Square Footage | 8,402 |
| Square Footage | Other |
| Acres | 0.51 |
| Year Built | 1982 |
| Type | Commercial/Industrial |
| Sub-Type | Commercial Property |
| Status | Active |
Community Information
| Address | 1157 Forest Ave |
|---|---|
| Area | Forest Hill |
| City | PACIFIC GROVE |
| County | Monterey |
| State | CA |
| Zip Code | 93950 |
Amenities
| Utilities | Public Utilities |
|---|---|
| Parking Spaces | 20 |
| Garages | Common Parking Area, Off-Street Parking |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Central Forced Air - Gas |
|---|---|
| Cooling | Central Forced Air - Gas |
| Fireplace | No |
| # of Stories | 1 |
Exterior
| Roof | Tar and Gravel |
|---|---|
| Foundation | Concrete Perimeter and Slab |
Additional Information
| Zoning | Comm |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Monterey Peninsula Home Team |
|---|---|
| Office | KW Coastal Estates |
| Contact Info | 831-601-3284 |