781 Market Avenue 066321027 Morro Bay CA 93442 | SP21011224

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

Price:
$3,890,000
MLS #:
SP21011224
Status:
Active
Address:
781 Market Avenue 066321027
Type:
Land
City:
Morro Bay
Listed Date:
Jan 15, 2021
State:
CA
ZIP:
93442
Subdivision:
Embarcadero(750)
Lot Size:
69,696 sqft / 1.60 acres (approx)

Schools

Interior

Exterior

Community Features
Biking, Dog Park, Fishing, Golf, Hiking, Park, Sidewalks
Lot Features
0-1 Unit/ Acre, Lot Over 40000 Sqft, Near Public Transit, Park Nearby
View
Bay, Coastline, Marina, Ocean, Panoramic, Park/ Greenbelt, Water
Water Source
Public

Financial

Association Fee
0.00

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Full-time Real Estate Broker, sold 1100+ Properties in SLO and SBC County. 38 years of local real estate knowledge and experience. I understand each sale is about you and your goals. I know as we get older, we don’t have time to make up for any mistakes especially when it comes to one the most significant investments. I care about my clients and work very hard to share my knowledge and protect you along the way. I place the appropriate verbiage in the listing and listing agreement depending …

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781 Market Avenue 066321027
Morro Bay, CA