495 Morro Bay Boulevard, Morro Bay, CA 93442

About this commercial property

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.

Listing description from the February 2024 sale, as reported to CRMLS.

Sale history

$1,800,000

Sold February 2024 · listed $2,050,000, orig. $2,450,000, on market October 2023 · MLS #SC23180450 · Source: CRMLS

Listing Agent: Andrew Richardson · Listing Office: Richardson Sotheby's International Realty · Contact: andrew@richardsonproperties.com · Bought with: Aaron Young · 1917 Brokerage

$800,000

Sold March 2019 · listed $849,999, orig. $899,999, on market January 2018 · MLS #PI18003086 · Source: CRMLS

Listing Agent: Kevin Jones · Listing Office: Realty Professionals · Contact: 805-473-0300 · Bought with: Aaron Young · Richardson Properties

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