Link Copied
Listed price in listed location currency (USD).
$2,988,000

0020

MLS® ML82037512

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Commercial Sale
Size -
Garage 
Taxes 
Days Active 32
Lot Size 
Approx. Age 1982
MLS® Number ML82037512

Property Address: 1157 Forest Ave, Pacific Grove, CA, 93950-5144

Average square foot calculated using Size range provided by listing agent.

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.
MLS® NumberML82037512
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1982
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Mar 6, 2026List Date
$2,988,000List Price
  • Commute

Commute

Starting Address
Destination Address
1157 Forest Ave, Pacific Grove, CA

Like what you see?

Complete the form and we'll be in touch. No login necessary.

Add a Comment
Loading...

Similar Listings

Comparable Properties