Property Details
About this Property
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 Listing Information
MLS #
ML82037573
MLS Source
MLSListings, Inc.
Days on Site
4
Interior Features
Cooling
Central Forced Air - Gas
Heating
Central Forced Air - Gas
Exterior Features
Roof
Tar/Gravel
Foundation
Concrete Perimeter and Slab
Parking, School, and Other Information
Garage/Parking
Common Parking Area, Off-Street Parking, Garage: 5 Car(s)
Elementary District
Pacific Grove Unified
High School District
Pacific Grove Unified
Sewer
Public Sewer
Zoning
Comm
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 8 | 9 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
1157 Forest Ave is a Residential Income in Pacific Grove, CA 93950. This 3,259 square foot property sits on a 22,440 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $2,988,000 and was built in 1982. This address can also be written as 1157 Forest Ave, Pacific Grove, CA 93950.
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This listing information is up-to-date as of March 06, 2026. For the most current information, please contact Monterey Peninsula Home Team, (831) 601-3284
