176 Central Ave, PACIFIC GROVE, CA

$1,095,000

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5,523

Square feet

0.16

Acres

About 176 Central Ave

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.

Features of 176 Central Ave

MLS® # ML81942469
Price $1,095,000
Square Footage 5,523
Square Footage Assessor
Acres 0.16
Year Built 1950
Type Common Interest
Sub-Type Commercial Property
Status Contingent

Community Information

Address 176 Central Ave
Area Central Ave/Downtown
City PACIFIC GROVE
County Monterey
State CA
Zip Code 93950

Amenities

Utilities Public Utilities, Propane On Site
Is Waterfront No

Interior

Heating Central Forced Air Heat
Cooling No Cooling
Fireplace No
# of Stories 2

Exterior

Roof Composition Roof
Foundation Concrete Slab, Wood Frame

Additional Information

Zoning VC
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentMonterey Peninsula Home Team
OfficeKW Coastal Estates
Contact Info831-594-3290

Listing Map

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