2848 Main Street, Morro Bay, 93442

Commercial - Retail For Sale


MLS® #: PI19039301
Active, 146 Days on Market

This is a VRM Listing, Seller to "Entertain" offers between $629,000 and $688,876. Here is the BEST opportunity for 2019 ... the Infamous and Iconic "LOLO's Mexican Restaurant" in Morro Bay, just across from the Morro Bay Rock! This Amazing Restaurant has been a family owned and operated business for almost 35 years now! This west facing restaurant location gives you the most spectacular Sunsets that you could imagine with the Rock in the background! There is so much upside potential here with the current restaurant or to bring in your own flair! The best part about owning this building is its location! It doesn't get any better than this! Massive Highway 1 visibility and views of the Morro Bay rock from inside the building and the patio! There is plenty of parking in the lot and also lots of street parking front and back, more than enough to continually keep the inside and patio packed! Inside we have plenty of floor space for booth and table seating plus a nice bar section with TV. The patio is also a great option to smell the ocean and hear the waves while enjoying a great meal. Investors this property should generate a projected $3500 month income being figured by $1.50 a square foot at 2,000 square feet, not including the patio. This should be a very achievable number to meet and structured on a NNN lease which would be $3,337 monthly. For more information call your Realtor today!

Essential Information

MLS® #: PI19039301
Price: $698,876
Acres: 0.21
Year Built: 1950
Type: Commercial
Sub-Type: Retail
Status: Active

Community Information

Address: 2848 Main Street
Area: Morro Bay (MRBY)
City: Morro Bay
County: San Luis Obispo
State: CA
Zip Code: 93442


Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Telephone - On Property, See Remarks, Sewer Connected, Water Connected
Parking Spaces: 12
Is Waterfront: Yes
Waterfront: Lot is Across the Road from Lake/Ocean


Heating: Forced Air
# of Stories: 1


Lot Description: Lot Shape-Rectangular, Lot-Level/Flat
Roof: Tile

Additional Information

Date Listed: February 21st, 2019
Days on Market: 146

Listing Details

Listing Agent: Kevin Jones(01128892)
Listing Office: Realty Professionals

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Listing information last updated on July 18th, 2019 at 10:47pm PDT.

Based on information from California Regional Multiple Listing Service, Inc. as of July 18th, 2019 at 10:18pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.