Sold

495 Boulevard

Morro Bay CA, 93442

$2,050,000


$523.76 per sqft

Sold

3,914 sqft

Commercial

Built in 1977

Listed by Andrew Richardson with Richardson Sotheby's International Realty 805-781-6040

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.

SC23180450

MLS ID

October 2, 2023

Listed

February 20, 2024

Updated

Map

495 Boulevard
Morro Bay CA, 93442

Interior Features

Total Stories

1


Laundry Description

None


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Forced Air

Exterior/Building Features

Lot Size

0.1 Acres


Lot Features

Corner Lot, Rectangular Lot, Street Level


Roof

Flat

Other Property Details

Area Name

MRBY - Morro Bay


Days on Market

100


Garage

No


View

No


County

San Luis Obispo


Water Source

Public


Pool

No


Waterfront

Yes


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

2/20/2024

Sold

2/16/2024

Pending

2/7/2024

Under Contract

2/2/2024

Under Contract

1/4/2024

Price Change

$2,050,000

-11%

11/20/2023

Active

11/20/2023

Price Change

$2,300,000

-7%

10/29/2023

Pending

Listing Contact: 805-781-6040 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/20/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 2/20/2024 at 11:37 PM UTC

 

Powered byLuxury Presence