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Property profile & analytics
FOR LEASE
Commercial land

298 Atascadero Rd Morro Bay, CA 93442

1.63 ac lot
Entity Owned 4-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US09-5069772
Property summary
AI-generated overview

This exceptional 1.63-acre commercial property in Morro Bay, California, presents a unique investment opportunity. Located at 298 Atascadero Road, 93442, this site boasts a prime location in a thriving coastal community, offering convenient access to Highway 1. The property is zoned Visitor-Serving Commercial (C-VS), allowing for a variety of potential uses as detailed in the zoning documentation. Its strategic position near iconic Morro Rock, Morro Bay State Park, and the vibrant Embarcadero, with its numerous shops and restaurants, ensures high visibility and foot traffic. The site benefits from the constant flow of tourists and local residents. Adding to its appeal, the property is adjacent to a renovated Motel 6 and across the street from a newly built Hampton Inn, indicating a strong commitment to development in the immediate area. This versatile land parcel is ideal for retail, industrial, or special-purpose development, offering significant potential for a range of commercial ventures. The property's classification is B, and it is suitable for single tenancy. The picturesque setting and convenient location make this a truly exceptional opportunity for investors seeking a high-impact coastal commercial development. The total building square footage is currently zero, allowing for complete customization to suit the buyer's specific needs. The property is classified as Flex, R&D, and Warehouse space.

Property profile
Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 1.63 ac (71,002 SF)
Zoning code YS
APN 066-332-010
UPID US09-5069772
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Motel 6 Morro Bay, CA Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$4.60M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$4.93M
Owner & transaction history
298 Coastal Holdings LLC · 4 yrs held
298 Coastal Holdings LLC
since 2022
Last sale
$5.5M
7 recorded transactions
2022
$5.5M
2021
Price N/A
2017
Price N/A
2017
Price N/A
2011
$2.8M
1998
$2.0M
1969
Price N/A
Zoning & alternative use
YS · Morro Bay, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source code of ordinances
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