Morro Bay Hospitality
2460 Main St, Morro Bay, CA 93442
For Sale
Contact for pricing
29-room hospitality property on 1.3 acres in Morro Bay.
Property Size10,586 SF
Lot Size1.30 Acres
Price / SF$651.80
Days on Market248
Property Features for 2460 Main St
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Building Details
Year Built
Year Renovated
Buildings
Listing Agency:
EverlyGrove Hotel Brokers
Listed By:
Aaron Graves · License CA #01787901
(805) 704-0334
Source:
Crexi
Added: Mar 9
Changed: Oct 26
Last Checked: Nov 10 at 6:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EverlyGrove Hotel Brokers
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Morro Bay Recovery Center is a 29-room hospitality property situated on approximately 1.3 acres in Morro Bay, California. Located along Main Street with convenient access to Highway 1, the property is positioned just minutes from the harbor, beaches, and the Embarcadero district. Originally built in 1953 and thoughtfully renovated, the asset spans four buildings and offers a well-maintained layout with on-site parking and additional operational components. The property has a size of 10586 square feet. The expansive site, strong visibility, and established infrastructure create flexibility for a variety of hospitality or specialty lodging concepts.
Key Highlights
- 29‑room hospitality property on ±1.3 acres in Morro Bay, California.
- Convenient access to Highway 1 and minutes from the harbor, beaches, and Embarcadero district.
- Strong visibility along Main Street.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$291,432
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,828,640
$5.8M
Cap Rate 7%
$4,163,314
$4.2M
Cap Rate 9%
$3,238,133
$3.2M
Market Conditions
NOI Build-Up for 10,586 SF
Gross rent
$501.8K $47.40/SF
− Vacancy
−$16.1K −$1.52/SF
EGI
$485.7K $45.88/SF
− OpEx
−$194.3K −$18.35/SF
NOI
$291.4K $27.53/SF
Area
San Luis Obispo County, CA
Vacancy
3.20%
Lease Rate
$47.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,828,640
Cap Rate 7%
$4,163,314
Cap Rate 9%
$3,238,133
Alternative Uses
Best Use
Healthcare Medical
$4.16M
$3.64M – $4.86M
NOI $291,432 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Explore this area
Business Placement
Demographics for 93442, CA
11,390
Population
6,537
Households
1.7
Avg Household Size
54
Median Age
45%
College-Educated
93%
High-School Grad
44.5 sq mi
ZIP Area
256
Density / Sq Mi
$92,163
Median Household Income
$50,651
Median Earnings
$1,815
Median Rent
$870,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - 29-room hospitality property on 1.3 acres in Morro Bay.
Where is this rehabilitation center located?
The property is located at 2460 Main St Morro Bay, CA.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: 29‑room hospitality property on ±1.3 acres in Morro Bay, California.; Convenient access to Highway 1 and minutes from the harbor, beaches, and Embarcadero district.; Strong visibility along Main Street.
