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listing
1 of 30
CommercialPending
$1,095,000
176 Central Ave
Pacific Grove, CA 93950
Listed by: Monterey Peninsula Home Team from KW Coastal Estates, 831-594-3290
MLS: MLSListings Inc.
5,523Sq Ft
Est. Mortgage
$5,752/mo

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 the MLSListings MLS as of 05/16/2024 01:44 AM. 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. Properties may or may not be listed by the office/agent presenting the information.
Information courtesy of KW Coastal Estates is subject to verification and is not guaranteed.
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