$1,050,000

176 Central Avenue

Pacific Grove, California 93950

Closed / MLS #81942469 / Commercial / Mixed Use / Pacific Grove

Listing information updated 7/5/2024 at 7:44pm

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.

Full Features

Lot Size:

6755 SquareFeet

Acreage:

0.155

Built:

1950

Roof:

Composition

Zoning:

Taxes & Assessments

Tax Amount:

N/A

Tax Year:

N/A

Location

Zip Code:

93950

City:

Pacific Grove

County:

Monterey

Full Features Taxes & Assessments Location

Lot Size:

6755 SquareFeet

Acreage:

0.155

Built:

1950

Roof:

Composition

Zoning:

Listing Agent: Monterey Peninsula Home Team

Listing Office: KW Coastal Estates

Disclaimer: The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListings MLS system. Real estate listings held by brokerage firms other than Christie’s International Real Estate Sereno are marked with the Internet Data Exchange icon (a stylized house inside a circle) and detailed information about them includes the names of the listing brokers and listing agents. Based on information from the MLSListings MLS as of 7/5/2024 at 7:44pm (date the MLS data was obtained). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy.