Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Building Area
Land Area ()

Property Description

The subject Property is located at 390 Morro Bay Boulevard, at the intersection of Morro Bay Boulevard and Monterey Avenue. The Site lies roughly a quarter mile east of the bay in the City’s Downtown area. It is accessible via State Route 1 (SR-1), which is less than a half mile to the northeast. The Property is currently improved with an 8,451 square foot building that formerly housed a Morro Bay Banking Center. The building consists of two stories, with 6,451 square feet on the ground floor and 2,000 square feet on the second floor. A large surface parking lot occupies the area behind the building. Total land area of the Property is 32,135 square feet (0.74 acres).

Investment Highlights

Location. Ideally located in Downtown Morro Bay, along a vibrant commercial corridor. Popular destination with tourists and residents alike, attracting visitors throughout California and beyond.


Redevelopment Opportunity. Located along commercial strip ripe for redevelopment. City of Morro Bay has focused efforts on beautifying area and bringing in new commercial and visitor serving uses.


Flexibility. Existing zoning allows for a wide variety of commercial uses including retail, restaurant, office, and hospitality uses. Zoning update will allow for even greater flexibility and intensity of uses on the property.


Market. Highly educated residents with strong and growing buying power. Demand for high quality retail, especially for new housing developments coming to market.

Last Updated Date: 03 Mar 2021
Brendan McArthur
Brendan McArthur
Senior Director, Capital Markets
License details
CA- 01185335
Jeff Adkison
Jeff Adkison
Managing Director, Capital Markets
License details
CA-01190791

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Last Updated Date: 03 Mar 2021

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