MarketPier

El Camino Real - Atascadero, CA 93422

$850,000
Listing Description

Incredible opportunity to develop a large commercial property on the south end of Atascadero. The property is directly adjacent to large residential neighborhoods which would provide daily foot traffic. Zoning is Commercial Retail which allows many uses for the buyer. It is also the closest & most convenient retail center for workers commuting north from San Luis Obispo. Conceptual plans have already been created for maximum flexibility, but no entitlements have been done so the buyer has full flexibility to develop as they wish. The buyer can build a 100 room extended stay hotel that allows short or long term occupancy. This provides the owner with maximum income, reduced taxes and the most flexibility compared to traditional short term hotels. This location is ideal for a hotel. It is surrounded by beautiful scenic views and it is centrally located between San Luis Obispo & wine country. The property is also designated for 14,000 sq ft of commercial space that can be broken up into 4 retail condos. Perfect for grocery stores, coffee shops or other retail. In addition to the hotel and retail spaces, the ground floor of the hotel can accommodate a 7,200 sq ft restaurant, a 5,800 sq ft luxury spa, and a 2,900 sq ft cafe. Abundant parking is a rare find in a shopping center this size, but it will ensure all tenants have plenty of customers. With its ideal location and a thriving surrounding community, this retail center is sure to be a hit!

Listing Information
MLS Number
SP19163597
APN/Parcel ID
045331014
Type
Commercial
Sub Type
Unimproved Land
Listing Date
7/10/2019
Days Active
101
Last Updated
10/20/2019
Listing Provided By
Clint Nunes
Triad Real Estate Group
BRE# 01954616

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