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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.
Property Type(s):
Commercial
| Last Updated | 3/6/2026 | Year Built | 1982 |
|---|---|---|---|
| Community | 699 - Not Defined | County | Monterey |
Additional Details
| AIR | Gas |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 699 - Not Defined |
| LOT | 0.5142 acre(s) |
| LOT DIMENSIONS | 22400 |
| STORIES | 1 |
Location
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Listed with KW Coastal Estates
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