781 Market Avenue, Morro Bay

$3,890,000

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1.60

Acres

About 781 Market Avenue

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.

Features of 781 Market Avenue

MLS® # SP21011224
Price $3,890,000
Bathrooms 0.00
Acres 1.60
Type Land
Status Active

Community Information

Address 781 Market Avenue
Area MRBY - Morro Bay
Subdivision Embarcadero(750)
City Morro Bay
County San Luis Obispo
Zip Code 93442

Amenities

View Bay, Coastline, Park/Greenbelt, Marina, Ocean, Panoramic, Water
Is Waterfront No
Has Pool No

Interior

Has Basement No
Fireplace No

Exterior

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

Additional Information

Date Listed January 15th, 2021
Days on Market 1217
Zoning CVS/PD/S.3/S.4,CVS/PD/S.4
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentStephen Mccarty
OfficeMcCarty Davis, Inc.

Listing Map

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