201 -203 Main Street, Morro Bay, CA 93442

About this commercial property

Waterfront income property on the Central Coast of California with 3 houses! Marina portion includes 28 boat spaces, 2 restrooms and a pier/dock. Water lease with the City of Morro Bay has 12 years left on the current lease with an option for an additional 20 years. Huge demand for boat slips in the area and rental housing, zero vacancy for the past eight years. This property is owner managed and not overly demanding. Rare opportunity to have a water lease and own the upland real estate. Offered at a 5.7% cap rate.

Listing description from the June 2022 sale, as reported to CRMLS.

Sale history

$3,200,000

Sold June 2022 · listed $3,750,000, orig. $3,900,000, on market January 2022 · MLS #SC22008503 · Source: CRMLS

Listing Agent: Dean Marchant · Listing Office: Morro Shores Real Estate · Contact: 805-440-3996 · Bought with: Hal Sweasey · Keller Williams Realty Central Coast

$3,200,000

Sold June 2022 · listed $3,750,000, orig. $3,900,000, on market January 2022 · MLS #SC22009743 · Source: CRMLS

Listing Agent: Dean Marchant · Listing Office: Morro Shores Real Estate · Contact: 805-440-3996 · Bought with: Hal Sweasey · Keller Williams Realty Central Coast

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