2848 Main Street

    Morro Bay, CA 93442
    • $629,000 - $698,876
    • STATUS: Active
    • ON SITE: 143 days
    • ID#: PI19039301
    UPDATED: 17 min ago
    $629,000 - $698,876
    • 0
      BEDS
    • 0.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,062
      SQFT
    • $339
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1950
    County:

    School Ratings & Info

    Description

    This is a VRM Listing, Seller to "Entertain" offers between $629,000 and $688,876. Here is the BEST opportunity for 2019 ... the Infamous and Iconic "LOLO's Mexican Restaurant" in Morro Bay, just across from the Morro Bay Rock! This Amazing Restaurant has been a family owned and operated business for almost 35 years now! This west facing restaurant location gives you the most spectacular Sunsets that you could imagine with the Rock in the background! There is so much upside potential here with the current restaurant or to bring in your own flair! The best part about owning this building is its location! It doesn't get any better than this! Massive Highway 1 visibility and views of the Morro Bay rock from inside the building and the patio! There is plenty of parking in the lot and also lots of street parking front and back, more than enough to continually keep the inside and patio packed! Inside we have plenty of floor space for booth and table seating plus a nice bar section with TV. The patio is also a great option to smell the ocean and hear the waves while enjoying a great meal. Investors this property should generate a projected $3500 month income being figured by $1.50 a square foot at 2,000 square feet, not including the patio. This should be a very achievable number to meet and structured on a NNN lease which would be $3,337 monthly. For more information call your Realtor today!

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-07-15T22:37:26.367. 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. Licensed in the State of California, USA.
    www.discoverslocountyrealestate.com/homes/92036221

    2848 Main Street Morro Bay, CA 93442

    • Price: $629,000 - $698,876
    • Status: Active
    • Updated: 17 min ago
    • ID#: PI19039301
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.21
    Acres
    2,062
    SQFT
    $339
    $/SQFT
    1950
    Built
    Neighborhood:
    MRBY - Morro Bay
    County:
    San Luis Obispo
    Area:
    MRBY - Morro Bay
    Property Description
    This is a VRM Listing, Seller to "Entertain" offers between $629,000 and $688,876. Here is the BEST opportunity for 2019 ... the Infamous and Iconic "LOLO's Mexican Restaurant" in Morro Bay, just across from the Morro Bay Rock! This Amazing Restaurant has been a family owned and operated business for almost 35 years now! This west facing restaurant location gives you the most spectacular Sunsets that you could imagine with the Rock in the background! There is so much upside potential here with the current restaurant or to bring in your own flair! The best part about owning this building is its location! It doesn't get any better than this! Massive Highway 1 visibility and views of the Morro Bay rock from inside the building and the patio! There is plenty of parking in the lot and also lots of street parking front and back, more than enough to continually keep the inside and patio packed! Inside we have plenty of floor space for booth and table seating plus a nice bar section with TV. The patio is also a great option to smell the ocean and hear the waves while enjoying a great meal. Investors this property should generate a projected $3500 month income being figured by $1.50 a square foot at 2,000 square feet, not including the patio. This should be a very achievable number to meet and structured on a NNN lease which would be $3,337 monthly. For more information call your Realtor today!
    Exterior Features

    Construction Materials Stucco Entry Level 1 Fence YN Yes Fencing Average Condition Lot Features Rectangular LotLevel Lot Size Source Assessor Lot Size Units Square Feet Parking Total 12.00 Roof Tile Topography Flat Waterfront Features Across The Road From Lake/Ocean

    Interior Features

    Building Features Phone System Condo Area 0 Condo Area Units Square Feet Cooling See Remarks Cooling YN Yes Heating Forced Air Heating YN Yes Laundry Features None Office Square Footage 0

    Property Features

    Additional Parcels YN No Anchors Co Tenants 1 Asset Class Retail Builder Name Unknown Building Area Units Square Feet Building Name Lolo's Building Status Existing Business Type Restaurant Country Us Current Use Comments Restaurant Electric Standard Exclusions Non-Fixtures High Tech Flex Square Footage 0 Inclusions Fixtures Industrial Square Footage 0 Investment Property YN Yes Land Lease YN No Land Use Other Laundry YN No Leasable Area Units Square Feet Lease Considered YN Yes Max Total Area Units Square Feet Min Total Area Units Square Feet Number Of Units Leased 1 Occupancy Occupied Property Sub Type Retail Residential Square Footage 0 Retail Square Footage 2062 Security Features Carbon Monoxide Detector(S)Security System Special Listing Conditions Standard Total Building NRA 2062 Total Monthly Rent 3500 Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedPhone ConnectedSee RemarksSewer ConnectedWater Connected Water Source Public Year Built Source Estimated

    Listing provided courtesy of Kevin Jones of Realty Professionals


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-07-15T22:37:26.367. 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. Licensed in the State of California, USA.
     
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