298 Atascadero Rd Morro Bay, CA 93442
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.
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Motel 6 Morro Bay, CA Hotel & Motel
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
YS · Morro Bay, CACosts & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.