Pacific Grove, CA 93950,176 Central AVE
Pacific Grove, CA 93950,176 Central AVE
Pacific Grove, CA 93950,176 Central AVE
$1,050,000
Est. payment /mo
$1,095,000
4.1%
Est.Price: ?

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6,756 Sqft Lot
SOLD DATE : 07/05/2024

Key Details

Sold Price $1,050,000

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

MLS Listing ID ML81942469

Sold Date 07/05/24

HOA Y/N No

Year Built 1950

Lot Size 6,756 Sqft

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.

Location

State CA

County Monterey

Area 699 - Not Defined

Zoning VC

Interior

Heating Forced Air

Cooling None

Fireplace No

Exterior

Roof Type Composition

Building

Story 2

Others

Tax ID 006234010000

Financing Conventional

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California Regional MLS (CRMLS)
Listed by Monterey Peninsul... • KW Coastal Estates
Bought with Joe Rombi • Coldwell Banker Realty

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Monique H. Ott-Beacham

+1(619) 757-3109

Broker | License ID: DRE #01448692

Broker License ID: DRE #01448692

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