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1215 Embarcadero Rd

5,239 SF 87% Leased Retail Building Morro Bay, CA 93442 £5,287,275 (£1,009/SF) 6% Net Initial Yield

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Investment Highlights

Waterfront

3 Income Streams

Executive Summary

McCarty Davis is pleased to offer the opportunity to purchase the Morro Bay Landing situated on the water in Morro Bay, CA. The recently constructed commercial building and boat docks provide three individual income streams. The project consists of a +/- 5,239 SF multi-tenant retail building, 25 boat slips and Kayak and Paddle Board storage lockers. With a gross income just north of $500,000, this leasehold interest (36 years on the existing lease with an exclusive right to renegotiate), is priced at a 6 cap and the owner is motivated to sell.

Morro Bay Landing - SALE

Property Facts

Sale Type

Investment or Owner User

Property Type

Retail

Property Subtype

Freestanding

Building Size

5,239 SF

Building Class

Year Built

2021

Price

£5,287,275

Price Per SF

£1,009

Net Initial Yield

NOI

£317,236

Percent Leased

87%

Tenancy

Multiple

Number of Floors

Building FAR

0.12

Lot Size

1.00 AC

Parking

25 Spaces (4.77 Spaces per 1,000 SF Leased)

Space Availability

C
675 SF
Retail
-
Now

1/5

1215 Embarcadero Rd, Morro Bay, CA for sale Building Photo- Image 1 of 5 — Building Photo

1215 Embarcadero Rd, Morro Bay, CA for sale Building Photo- Image 2 of 5 — Building Photo

1215 Embarcadero Rd, Morro Bay, CA for sale Building Photo- Image 3 of 5 — Building Photo

1215 Embarcadero Rd, Morro Bay, CA for sale Building Photo- Image 4 of 5 — Building Photo

1215 Embarcadero Rd, Morro Bay, CA for sale Building Photo- Image 5 of 5 — Building Photo

McCarty Davis is pleased to offer the opportunity to lease 1215 Embarcadero, Suite C in Morro Bay. This prime waterfront retail space is move in ready. Located in a heavily trafficked tourist destination community. The space would be suitable for a variety of uses including, but not limited to, excursion businesses, kayak/boat rentals, tourist oriented retail, etc.