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.
MLS #
CRSP21011224
MLS Source
California Regional MLS
Days on Site
1169
Buyer's Brokerage Compensation*
2.50%
HOA Fee
$0
Zoning
D0, LZ, TNS, PRK
Listing Agent
Stephen McCarty
McCarty Davis, Inc.
License #: 00977930
Phone: (805) 543-1801
Co-Listing Agent
Steve Davis
McCarty Davis, Inc.
License #: 01843738
Phone: (805) 543-1801
781 Market Ave is in Morro Bay, CA 93442. This Land is currently priced at $3,890,000.
This address can also be written as 781 Market Ave, Morro Bay, CA 93442.©2024 California Regional MLS. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
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* The offer of compensation is made subject to the MLS rules where the listing is filed. Please contact your agent for any questions concerning this subject matter.
This listing information is up-to-date as of January 06, 2024. For the most current information, please contact Stephen McCarty, (805) 543-1801