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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Courtesy of McCarty Davis, Inc.. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than CornerStone Real Estate include the name of the listing broker. Neither the listing company nor CornerStone Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2023. California Regional Multiple Listing Service. All rights reserved. 781 Market Avenue 066321027
Morro Bay, CA
