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 | $1,250,000 |
| Square Footage | 5,523 |
| Acres | 0.16 |
| Year Built | 1950 |
| Type | Common Interest |
| Sub-Type | Commercial Property |
| Status | Active |
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 |
| Has Basement | No |
Exterior
| Roof | Composition Roof |
|---|---|
| Foundation | Concrete Slab, Wood Frame |
School Information
| Attendance Zone | ROBERT DOWN ELEMENTARY SCHOOL, PACIFIC GROVE HIGH SCHOOL, PACIFIC GROVE MIDDLE SCHOOL |
|---|
Additional Information
| Zoning | VC |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Monterey Peninsula Home Team |
|---|---|
| Office | KW Coastal Estates |
| Office Contact | 831-594-3290 |
