For Sale
$6,750,000

1215 EmbarcaderoMorro Bay, CA 93442

Profitable Waterfront Marina in Morro Bay, CA

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a thriving Morro Bay, CA marina, boasting a recently constructed, 5,239 square foot multi-tenant retail building situated on the Embarcadero at 1215 Embarcadero, zip code 93442, in San Luis Obispo County. The property generates a gross annual income exceeding $500,000 from three distinct revenue streams: the retail building, 25 boat slips, and kayak/paddleboard storage lockers. The leasehold interest offers 36 years remaining on the current lease, with an exclusive right to renegotiate. This NNN-leased, multi-tenant property is priced to yield a 6 cap rate, reflecting a compelling return on investment. The property's prime waterfront location in the desirable Morro Bay market ensures strong tenant demand and consistent income generation. The modern building and well-maintained facilities contribute to the property's high-performing operational efficiency. This turnkey investment is an ideal opportunity for those seeking a stable, high-yielding asset in a sought-after coastal location. The property's strong cash flow and long-term lease provide a secure and attractive investment prospect. Serious inquiries are encouraged.

Highlights

  • Thriving Morro Bay marina investment opportunity with a recently constructed 5,239 SF multi-tenant retail building on the Embarcadero.
  • Generates over $500,000 in gross annual income from retail, boat slips, and storage lockers.
  • 36 years remaining on the NNN lease with an exclusive right to renegotiate.
  • 6% cap rate offering a compelling return on investment.
  • Prime waterfront location in desirable Morro Bay ensures strong tenant demand and consistent income.

Property Details for 1215 Embarcadero

Property type
Specialty properties, Marinas
Square Feet
5,239 SF

Location Insight

City
Morro Bay
County
San Luis Obispo
State
California
Latitude
35.370745528876
Longitude
-120.8569307973
1215 Embarcadero, Morro Bay, California

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1215 Embarcadero
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