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1157 Forest Ave , Pacific Grove, CA 93950
$2,988,000
Est. Payment: $14,977.14/mo
0 Bed
0 Bath
8402 Sqft
Status: active | Days on site: 97
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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House 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.
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Highlights

Listed by Monterey Peninsul... , 831-313-2289 KW Coastal Estates , (831) 622-6200. CRMLS/Multi-Regional MLS mls logo

Property Type

Commercial Sale
Lot/Acreage
0.51

Year Built

1982

County

Monterey

Area

699 - Not Defined

Listing ID

ML82037512

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:0
  • ▪ Bathrooms:0
  • ▪ Full Bathrooms:
Air Cond:Gas
Fireplaces:

Exterior Features

Lot:No Land Lease
Garage Capacity:20
Zoning:Comm
Roof:Tar/Gravel
Principal Interest
$14,977
Taxes
$1,905

Home Price

$2,988,000

Loan Details

30 yrs
6.416%

Down Payment

20%
$597,600
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$14,977.14

Principal

Taxes

Principal Taxes HOA Total
Monthly $14,977.14 $1,904.85 $0.00 $16,881.99
Yearly $179,725.74 $22,858.20 $0.00 $202,583.94
Total $5,391,772.06 $685,746.00 $0.00 $6,077,518.06
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So-Crates Johnson
Dust, Wind, Dude
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Market insight data is pulled from the same city as the listing being viewed (Pacific Grove, CA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information from California Regional Multiple Listing Service, Inc. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. All properties are subject to prior sale, change or withdrawal.

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Data last updated: 2026-06-25T23:39:42.000Z

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