MLS® ID: PI19039301

2848 Main Street

Morro Bay, California, 93442

$698,876 Active
  • 2062 SQFT
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!
Read More

Listing courtesy of Realty Professionals

Amenities

  • Zip
    93442
  • Office name
    Realty Professionals
  • SQFT
    2062
  • Property type
    Commercial Sale
  • Year built
    1950
  • Heating
    Forced Air
  • Tax year
    0
  • Agent name
    Kevin Jones
  • Tax amount
    $ 0.0
  • Purchase Type
    Active

Location

Virtual Tours

Have questions?

We can help.

Let's chat!

First Name
Last Name
Email
Phone
Best time to call

Success!

Thank you for reaching out to us online! We'll be with you soon. In the meantime feel free to explore our website.

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info