290 Atascadero RdMorro Bay, CA 93442

Property Details for 290 Atascadero Rd

Year built

2007

Construction

WOOD

Lot size

0.69 AC

Property size (Sq ft)

14,867 SF

Zone code

VCS

Property type

Hospitality properties

Property subtype

Motels

APN

066-332-011

APU

66332011

Description

This exceptional 34-key hotel, the Morro Shores Inn, presents a lucrative investment opportunity in the desirable coastal city of Morro Bay, California. Situated on a 0.69-acre lot at 290 Atascadero Rd, 93442, this two-story, 14,867 square-foot property boasts a prime location within San Luis Obispo County. Built in 2007 and renovated in 2020, the hotel offers a turnkey operation with a strong pro-forma NOI of $389,871 and a 5.65% pro-forma cap rate. The asking price is $6,900,000, translating to $464.12 per square foot and $202,941.18 per key. The property's APN is 066-332-011. This well-positioned hotel benefits from the thriving tourism in the area and presents a compelling opportunity for investors seeking a stable and profitable hospitality asset in a highly sought-after coastal location. The single building offers significant potential for continued growth and profitability. Serious inquiries only.

Location Insight

City

Morro Bay

County

San Luis Obispo

State

California

Latitude

35.3795

Longitude

-120.856

CBSA code

42020

CBSA name

SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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