781 Market Avenue, Morro Bay, CA 93442

$3,890,000
List Price
$3,890,000
Price Change
▲ $1,392,000 1632806069
Status
ACTIVE
MLS#
SP21011224
Lot Size
69,696
Acres
1.6
Lot Location
Item01UnitAcre, LotOver40000Sqft, NearPark, Near Public Transit
Days on Market
313
Property Type
Land
Neighborhood
Embarcadero(750)

Property 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.

Additional Information

Land Lease
Yes
View
Bay, Coastline, Park/Greenbelt, Marina, Ocean, Panoramic, Water
Water
Public
Attached Structure
Detached

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Stephen McCarty from McCarty Davis, Inc.

Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.