Active

781 Market Avenue

Morro Bay CA, 93442

$3,890,000


$55.81 per sqft

Active

69,696 sqft

Land

Listed by Stephen McCarty with McCarty Davis, Inc. 805-543-1801

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.

SP21011224

MLS ID

January 15, 2021

Listed

February 16, 2024

Updated

Map

781 Market Avenue
Morro Bay CA, 93442

Exterior/Building Features

Lot Size

1.6 Acres


Lot Features

0-1 Unit/Acre, Lot Over 40000 Sqft, Near Park, Near Public Transit

Other Property Details

Area Name

MRBY - Morro Bay


Days on Market

1083


Garage

No


View

Yes


View Description

Bay, Coastline, Park/Greenbelt, Marina, Ocean, Panoramic, Water


County

San Luis Obispo


Water Source

Public


Pool

No


Zoning

CVS/PD/S.3/S.4,CVS/PD/S.4


Buyer Agency Compensation

2.5%

Listing Contact: 805-543-1801 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/16/2024. 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.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 2/16/2024 at 6:25 AM UTC

 

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