781 Market Avenue
Morro Bay, CA 93442
1.60 acres | #SP21011224
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. The balance of the property rises up and sits on the bluff overlooking the Embarcadero and Morro Bay. Subject property is +/- 1.60 Acres. Call listing agent for showing instructions. Pre-approval required for touring property. Purchase Price: $3,890,000 per most current appraisal, 2021. Call for more details.
Property Details
- Lot DescriptionItem01UnitAcre, LotOver40000Sqft, NearPark, NearPublicTransit
- ViewBay, Coastline, ParkGreenbelt, Marina, Ocean, Panoramic, Water
Measurements
- Acres1.6
Construction Details
- Property TypePurchase
Utilities / Energy Details
- Utility SourcePublic
Community and Neighborhood Details
- SubdivisionEmbarcadero(750)
Location
- CountySan Luis Obispo
Financial Details
- Original List Price$2,498,000
- Buying Agency Compensation2.500
Other
- MLS #SP21011224
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Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Stephen McCarty (#SL01240829)
Listing Office: McCarty Davis, Inc. (#SL125)
