495 Morro Bay Boulevard, Morro Bay, CA 93442

$1,800,000
Sold Price
$1,800,000
List Price
$2,050,000
Closing Date
Feb 20, 2024
Status
CLOSED
MLS#
SC23180450
Year Built
1977
Lot Size
4,356
Acres
0.10
Lot Location
Corner Lot, Rectangular Lot, Street Level
Days on Market
100
Property Type
Commercial
Property Sub Type
Retail

Property Description

Discover an exceptional investment opportunity in Morro Bay, California, with this remarkable single-level commercial property at 495 Morro Bay Blvd. Zoned for retail trade and currently operating as one of the town's two exclusive cannabis dispensaries, this fully renovated 3,914 sq ft property presents a rare chance for investors. Featuring strategic corner placement for maximum visibility, proximity to the ocean, a 8.5% cap rate from a lease with one of the largest distributors and cultivators in the United States, and an array of amenities such as 24-hour security, restrooms, a break room, lobby, electric charging, Solar and key card entry, this offering is poised for success. Don't miss out on securing your place in Morro Bay's thriving retail landscape; contact us today for a viewing and explore the endless potential this property offers at an asking price of $2,050,000.

Additional Information

Heat
Forced Air
Cooling
Yes
Cooling Description
Central Air
Roof
Flat
Water
Public
Attached Structure
Detached
Gross Scheduled Income
$190,502
Water Features
Across the Road from Lake/Ocean, Ocean Side Of Freeway

Listing courtesy of Listing Agent: Andrew Richardson (andrew@richardsonproperties.com) from Listing Office: Richardson Sotheby's International Realty.

Listing sold by Aaron Young from 1917 Brokerage

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.