Pacific Grove, CA 93950,176 Central AVE
Pacific Grove, CA 93950,176 Central AVE
Pacific Grove, CA 93950,176 Central AVE
Pacific Grove, CA 93950,176 Central AVE
Pacific Grove, CA 93950,176 Central AVE
Pacific Grove, CA 93950,176 Central AVE
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$1,050,000

$1,095,000

4.1%
Est.Price: ?

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Est. payment /mo

5,523 SqFt


SOLD DATE : 07/05/2024

Key Details

Sold Price $1,050,000

Property Type Commercial

Sub Type Commercial Property

Listing Status Sold

Purchase Type For Sale

Square Footage 5,523 sqft

Price per Sqft $190

MLS Listing ID ML81942469

Sold Date 07/05/24

Year Built 1950

Lot Size 6,755 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 Central Ave/Downtown

Zoning VC

Interior

Heating Forced Air

Cooling None

Exterior

Parking Features On Street

Utilities Available Propane On Site, Public Utilities

Roof Type Composition

Present Use Vacant

Building

Story 2

Foundation Concrete Slab, Wood Frame

Sewer Sewer - Public

Water Private / Mutual, Water Available at Street

Level or Stories 2

Others

Restrictions Parking Restrictions

Tax ID 006-234-010-000

Security Features None

Special Listing Condition Not Applicable

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MLSListings Inc. (MLSListings)
Listed by Monterey Peninsula Home Team • KW Coastal Estates
Bought with Joe Rombi • Coldwell Banker Realty
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