781 Market, Property Listing: MLS® #SP21011224

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.

781 Market, Property Listing: MLS® #SP21011224 Close
Page Summary
  • 619-987-4851
  • MLS® #: SP21011224
  • 781 Market
  • , CA 93442
  • $3,890,000
  • 69696 SqFt, 1.60 Acres
  • Office: Mccarty Davis, Inc.

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.

Supplemental Remarks

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Essential Information

  • MLS® #SP21011224
  • Listing Price$3,890,000
  • Original Listing Price$2,498,000
  • List Price per Square Foot$55.81
  • Date ListedJanuary 15th, 2021
  • Days on Market859
  • Square Footage69,696
  • Acres1.60
  • Lot Sq.Ft.69,696
  • TypeLot / Land
  • StatusACTIVE

Dues

  • HOA Dues$0

Community Information

  • Address781 Market
  • AreaMORRO BAY (93442)
  • CountySan Luis Obispo
  • StateCA
  • Zip Code93442

Exterior

  • Lot DescriptionSidewalks
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Listing information last updated on October 1st, 2023 at 4:53am PDT.