781 Market Avenue
Morro Bay, CA 93442

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 +/- 1.42 Acres. Call listing agent for showing instructions. Pre-approval required for touring property.

Details

MLS#SP19086200
Sub-TypeResale
StatusActive
Days On Site7

Features

ZoningCVS/PD/S.3/S.4,CVS/PD/S.4
Acreage1.42
Property ViewYes

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:
$2,498,000
low | high
Med:
$636,750
100% of Average
On Site:
7
low | high
Med:
123
5.691056910569% of Average
Listing Updated: 04/23/2019
MLS Number: SP19086200
Listing Provided By:
Stephen McCarty  of  Stafford-McCarty Commercial RE
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