Listed by Stephen McCarty with McCarty Davis, Inc.

781 Market Avenue

Morro Bay, CA, 93442

$3,890,000

$3,890,000
Active
Active
 - For Sale
property_type
Land
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.
MLS® ID:
SP21011224
Listed:
1/14/21
Updated:
5/30/23
Compass
Robert Sousa
Office: (805) 460-3000Email: robert.sousa@compass.com

Exterior/Building Features

Lot Size
1.6 acres lot
Lot Details
0-1 Unit/Acre, Lot Over 40000 Sqft, Near Park, Near Public Transit

Other Property Details

Area Name
MRBY - Morro Bay
Association Amenities
Biking, Dog Park, Fishing, Golf, Hiking, Sidewalks, Park
Garage
No
Parking
N
View
Y
County
San Luis Obispo
Water Source
Public
Pool
No
Zoning
CVS/PD/S.3/S.4,CVS/PD/S.4
Buyer Agency Compensation
2.500

Property History

Date
Event
Price
Value
9/27/21
Price Change
$3,890,000
155%

Listing Contact:  

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/30/23. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2023 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/30/23 at 7:46 AM UTC

Compass
Robert Sousa
Office: (805) 460-3000Email: robert.sousa@compass.com
Contact