1215 Embarcadero Morro Bay, CA 93442-2041
- Retail space
- 5,648 SF
Current Use by Public Records
- Morro Bay Landing / Fishing Charter
- Morro Grill / Restaurant
- Public Restroom / Public Bathroom
- Chablis Cruises / Cruise Agency
- Grassy Bar Oyster Company / Oyster Supplier
Property Details for 1215 Embarcadero
- Year built
- 2020
- Construction
- WOOD
- Property size
- 5,648 SF
- Property type
- Retail space
- APN
- 940-000-146
- APU
- 940000146
Description
This exceptional investment opportunity presents a thriving Morro Bay, CA marina, boasting a recently constructed, 5,239 square foot multi-tenant retail building situated on the Embarcadero at 1215 Embarcadero, zip code 93442, in San Luis Obispo County. The property generates a gross annual income exceeding $500,000 from three distinct revenue streams: the retail building, 25 boat slips, and kayak/paddleboard storage lockers. The leasehold interest offers 36 years remaining on the current lease, with an exclusive right to renegotiate. This NNN-leased, multi-tenant property is priced to yield a 6 cap rate, reflecting a compelling return on investment. The property's prime waterfront location in the desirable Morro Bay market ensures strong tenant demand and consistent income generation. The modern building and well-maintained facilities contribute to the property's high-performing operational efficiency. This turnkey investment is an ideal opportunity for those seeking a stable, high-yielding asset in a sought-after coastal location. The property's strong cash flow and long-term lease provide a secure and attractive investment prospect. Serious inquiries are encouraged.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Morro Bay
- County
- San Luis Obispo
- State
- California
- Longitude
- -120.863
- Latitude
- 35.378
- CBSA code
- 42020
- CBSA name
- SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA
