781 Market Avenue

Morro Bay, CA 93442

$3,890,000
Price
69,696 / 1.6
Lot Size / Acres

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...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.
  1. Listed by Stephen McCarty • DRE #00977930 • Brokerage DRE #01240829 • McCarty Davis, Inc. • mccarty@mccartydavis.com
  2. Listed by Steve Davis • DRE #01843738 • Brokerage DRE #01240829 • McCarty Davis, Inc.

Property Details for 781 Market Avenue

View
Bay, Coastline, Marina, Ocean, Panoramic, Park/Greenbelt, Water
Lot Size Source
Owner
Assessor Parcel Number
066321027
New Construction
No
Pool
No
View
Yes
Association
No
Association Fee
$.00

Location

Listing Courtesy of McCarty Davis, Inc., Stephen McCarty, DRE #00977930; McCarty Davis, Inc., Steve Davis, DRE #01843738
Add your commute
LISTING UPDATED: 01/06/2024 01:28 PM

Property Details for 781 Market Avenue

StatusActive
MLS #SP21011224
Days on Market1191
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand Lot
Year Built-
Lot Size1.60 AC
CountySan Luis Obispo County

Location

Listing Courtesy of McCarty Davis, Inc., Stephen McCarty, DRE #00977930; McCarty Davis, Inc., Steve Davis, DRE #01843738
Add your commute

Building Information for 781 Market Avenue

Lot Size1.60 AC

Payment Calculator

$21,229 per month

30 year fixed, 7.25% Interest

Principal and Interest

$21,229

Property Taxes

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 781 Market Avenue

Community / Development
Community / Development
  • Community Features: Biking, Dog Park, Fishing, Golf, Hiking, Park, Sidewalks
Property / Structure Info
Exterior Features
  • View Description: Bay, Coastline, Marina, Ocean, Panoramic, Water
Distance To
  • Distance To Water: 0
Land/Lot Info
  • Additional Parcels Description: 066321028, 066321026, 066321025, 006112007, 006321008
  • Lot Features: 0-1 Unit/Acre, Lot Over 40000 Sqft, Near Public Transit, Park Nearby
  • Land Lease: Yes
  • Land Lease Type: Lease
  • Water: Public
  • Water Source: Public
Parking Info
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Embarcadero
  • Builders Tract Code: Embarcadero(750)

Property History for 781 Market Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 781 Market Avenue

Taxable ValueLand$30,600Additions$30,600Total$61,200
Home Facts
Total Finished SqFt10,100 SqFtAbove Grade Finished SqFt10,100 SqFtLot Size7,392 SqFtStyleRestaurantYear Built1981CountySAN LUIS OBISPOAPN940-002-620

Schools near 781 Market Avenue

This home is within San Luis Coastal Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 6
Rating
School
Distance
Del Mar Elementary School
PublicK to 5

Los Osos Middle School
Public6 to 8

Morro Bay High School
Public9 to 12

Pacheco Elementary School
PublicK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

781 Market Avenue is a 1.6 ac of land for sale in Morro Bay, CA 93442. This property was listed for sale on January 15, 2021 by McCarty Davis, Inc., it's currently listed at $3,890,000. It has been on the market for a total of 1191 days and was last sold on March 30, 2001. This listing's school district is San Luis Coastal Unified School District. Nearby schools include Del Mar Elementary School, Los Osos Middle School and Morro Bay High School. 781 Market Avenue is a 0-bed, 0-bath, 1.6 ac of land on a 69,696 sq. ft. / 1.6 acres lot.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of McCarty Davis, Inc., Stephen McCarty, DRE #00977930; McCarty Davis, Inc., Steve Davis, DRE #01843738

Based on information from one of the following Multiple Listing Services: Santa Barbara MLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Santa Barbara MLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.