781 Market Avenue
Morro Bay, CA 93442

$1,750,000

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
StyleHospitality
Sub-TypeResale
StatusActive
Days On Site38

Features

SQ Feet5,220
Story(s)0

Market Activity 93442

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Area Information

StateCA
CountySan Luis Obispo
CityMorro Bay
Zip Code93442
AreaMRBY - Morro Bay
Listing VS Median (in 93442)
Price:
$1,750,000
low | high
Med:
$579,000
100% of Average
SqFt:
5,220
low | high
Med:
1,230
100% of Average
$ / SqFt:
$335
low | high
Med:
$471
9.587456445993% of Average
On Site:
38
low | high
Med:
79
48.101265822785% of Average
Listing Updated: 02/15/2019
MLS Number: SP19006565
Listing Provided By:
Stephen McCarty  of  Stafford-McCarty Commercial RE
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.