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Berkshire Hathaway HomeServices California Properties

1157 Forest Avenue, Pacific Grove, CA 93950

$2,988,000 Approx. USD

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Berkshire Hathaway HomeServices California Properties 11828 Rancho Bernardo Rd, Ste 210
San Diego, CA 92128 888-995-7575

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Listing Agent

Monterey Peninsul... | mark.bruno@mphtre.com
Lic#: 70000352
Broker: Courtesy of KW Coastal Estates
Phone: 831-313-2289

Listing Details

Property type: (Commercial)

Property Sub-Type:

Status: Active

Listing ID: ML82037573

Price: $2,988,000

Rental Rate: $2,988,000

Lot Size:

HOA Fee is $0.00

Built in 1982

0.52 acres

County: Monterey

Zoning: Comm

Heating/cooling: Gas

Last Updated: 7/30/2026

Days On Market (DOM): 150

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Lat/Long: 36.606050, -121.921012.
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Easement Present: (Easement present. For more information, contact agent.)

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Property Details

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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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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