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.

Listing Agent:Stephen McCarty

Offered By:Mccarty Davis, Inc.

Date Added: 1/15/21 at 6:00 am
Last Update: 5/24/23 at 6:19 pm


  • Road/AccessCity Street
  • HOA Amenities0.0
  • Originating MLSCRMLS
  • CountySan Luis Obispo


  • ZoningCVS/ PD/ S.3/ S.4, CVS/ PD/ S.4, 066321027
  • ViewBay, Coastline, Park/ Greenbelt, Marina, Ocean, Panoramic, Water, View


  • WaterPublic
  • SewerPublic Sewer


  • SourceCRMLS, CRMLS
  • Buyers Agent Compensation3.000


  • DistrictSan Luis Coastal Unified School District

Listing History

  • 09/28/2021$3,890,000 55.72%
  • 01/18/2021$2,498,000
  • 01/18/2021Active
  • 04/15/2019Off Market
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