El Camino Real, Atascadero, CA 93422

$850,000
List Price
$850,000
Status
ACTIVE
MLS#
SP19163597
Days on Market
10
Property Type
Commercial
Property Sub Type
Unimproved Land

Property Description

Incredible opportunity to develop a large commercial property on the south end of Atascadero. The property is directly adjacent to large residential neighborhoods which would provide daily foot traffic. Zoning is Commercial Retail which allows many uses for the buyer. It is also the closest & most convenient retail center for workers commuting north from San Luis Obispo. Conceptual plans have already been created for maximum flexibility, but no entitlements have been done so the buyer has full flexibility to develop as they wish. The buyer can build a 100 room extended stay hotel that allows short or long term occupancy. This provides the owner with maximum income, reduced taxes and the most flexibility compared to traditional short term hotels. This location is ideal for a hotel. It is surrounded by beautiful scenic views and it is centrally located between San Luis Obispo & wine country. The property is also designated for 14,000 sq ft of commercial space that can be broken up into 4 retail condos. Perfect for grocery stores, coffee shops or other retail. In addition to the hotel and retail spaces, the ground floor of the hotel can accommodate a 7,200 sq ft restaurant, a 5,800 sq ft luxury spa, and a 2,900 sq ft cafe. Abundant parking is a rare find in a shopping center this size, but it will ensure all tenants have plenty of customers. With its ideal location and a thriving surrounding community, this retail center is sure to be a hit!

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Calculator source: Real Geeks

Listing courtesy of Clint Nunes from Triad Real Estate Group

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.