781 Market Avenue
Morro Bay, CA 93442
$1,750,000
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Description
Seeking Buyer/Lessor to develop a hospitality property delivering tax generating benefits on City-owned property. The City is offering this property to a Lessor/Buyer with the intent they develop a hospitality project generating on-going TOT (Transient occupancy tax). The zoning allows for a wide range of tourist service uses; Zoned C-VS/PD/S.4 (existing restaurant and parking lot) and C-VS/PD/S.3/S.4 (upper parking lot). The project sits partially on the Embarcadero, the main tourist area in Morro Bay. Subject property is +/- 1.03 Acres. Call listing agent for showing instructions. Pre-approval required for touring property.
Details
| MLS# | SP19006565 |
|---|---|
| Style | Hospitality |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 39 |
Features
| SQ Feet | 5,220 |
|---|---|
| Story(s) | 0 |
Market Activity 93442
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Area Information | |
|---|---|
| State | CA |
| County | San Luis Obispo |
| City | Morro Bay |
| Zip Code | 93442 |
| Area | MRBY - Morro Bay |
| Listing VS Median (in 93442) | |
Price: $1,750,000 low | high Med: $579,000 SqFt: 5,220 low | high Med: 1,230 $ / SqFt: $335 low | high Med: $471 On Site: 39 low | high Med: 80 | |
Listing Updated: 02/16/2019
MLS Number: SP19006565Listing Provided By:
Stephen McCarty of Stafford-McCarty Commercial RE