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176 Central Avenue

Pacific Grove, CA 93950
  • $1,095,000
  • STATUS: Active Under Contract
  • ON SITE: 275 Days
  • ID#: ML81942469
Under Contract
UPDATED: 90 min ago
$1,095,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1950
County:

School Ratings & Info

Listing Agent(s): Monterey Peninsul... of KW Coastal Estates ((831) 622-6200)


Description

Attention investors...Check out this amazing redevelopment opportunity in Pacific Grove near Cannery Row and the Monterey Aquarium. Formerly a church, this approximately 5400 square foot building on a 6755 square foot lot is located on one of the 3 main streets leading into Pacific Grove. The sellers acquired this property approximately 3 years ago and have spent nearly $500,000 in costs and fees to get the zoning changed to allow a motel to be built on the site. The plans for the motel and vestige retail commercial space consist of a newly to be constructed back wing/section of the building that would have 3 motel units possibly 4 depending upon the size of the rooms are part of the disclosure packet. This project is ideally located just steps away from the major hotel planned at the American Tin Cannery and would boast good views of the Monterey Bay. A buyer can purchase this property and move forward with the plans including water as approved, or consider other opportunities.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-21T15:36:45.983. 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 deemed reliable but is not guaranteed accurate by the MLS or Steele Canyon Realty. Licensed in the State of California, USA.
www.steelecanyonrealty.com/homes/143541240
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176 Central Avenue Pacific Grove, CA 93950

  • Price: $1,095,000
  • Status: Active Under Contract
  • On Site: 275 Days
  • Updated: 90 min ago
  • ID#: ML81942469
0
Beds
0
Baths
0
½ Baths
0.16
Acres
1950
Built
Neighborhood:
699 - Not Defined
County:
Monterey
Area:
699 - Not Defined
Property Description
Attention investors...Check out this amazing redevelopment opportunity in Pacific Grove near Cannery Row and the Monterey Aquarium. Formerly a church, this approximately 5400 square foot building on a 6755 square foot lot is located on one of the 3 main streets leading into Pacific Grove. The sellers acquired this property approximately 3 years ago and have spent nearly $500,000 in costs and fees to get the zoning changed to allow a motel to be built on the site. The plans for the motel and vestige retail commercial space consist of a newly to be constructed back wing/section of the building that would have 3 motel units possibly 4 depending upon the size of the rooms are part of the disclosure packet. This project is ideally located just steps away from the major hotel planned at the American Tin Cannery and would boast good views of the Monterey Bay. A buyer can purchase this property and move forward with the plans including water as approved, or consider other opportunities.
Exterior Features

Parking Total 0 Roof Composition

Interior Features

Cooling None Cooling YN Yes Heating Forced Air Heating YN Yes

Property Features

Association Fee 0 Gross Scheduled Income 0 Listing Agreement Exclusive Right To Sell Listing Service Full Service Maintenance Expense 0 Other Expense 0 Tax Annual Amount 0 Trash Expense 0 Zoning VC



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-21T15:36:45.983. 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 deemed reliable but is not guaranteed accurate by the MLS or Steele Canyon Realty. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_371943051-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_371943051-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_371943051-2.jpg
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Steele Canyon Realty
5923 Severin Drive
La Mesa CA, 91942
Listing Agent(s): Monterey Peninsul... of KW Coastal Estates ((831) 622-6200)