176 Central AVE, Pacific Grove, CA 93950
- $1,050,000
- Sold Price
- $1,050,000
- List Price
- $1,095,000
- Closing Date
- Jul 05, 2024
- MLS#
- ML81942469
- Status
- SOLD
- Property Type
- com
- Lot Size
- 6,755
- Listing Area
- Central Ave/Downtown
- Year Built
- 1950
Property Description
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.
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Additional Information
- Acres
- 0.16
- Age
- 73
- Cooling System
- None
- Foundation
- Concrete Slab, Wood Frame
- Garage Parking
- On Street
- Heating System
- Forced Air
- Lot Size
- 6,755
- Neighborhood
- Central Ave/Downtown
- Other Utilities
- Propane On Site, Public Utilities
- Present Use
- Vacant
- Roof
- Composition
- Sewer
- Sewer - Public
- Special Features
- None
- Unincorporated Yn
- Yes
- Zoning
- VC
Mortgage Calculator
Listing courtesy of Monterey Peninsula Home Team from KW Coastal Estates. 831-594-3290
Selling Office: M5021.
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