Commercial For Sale  

495 Morro Bay Blvd, Morro Bay, CA

495 Morro Bay Blvd
495 Morro Bay Blvd

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interior

entry
entry

495 Morro Bay Blvd
495 Morro Bay Blvd

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Property Details

Price

Zoning

$3,200,000

Retail

Building Size

Lot Size

4,340 SF

6,012 SF

Property Description​

This centrally located retail property in downtown Morro Bay has just undergone a $1.4 million renovation. The tenant, Natural Healing Center, is a cannabis retailer with multiple locations throughout the state. The tenant will execute a brand new 10-year sale leaseback at the close of escrow with 4 (5-year) option periods to extend. The lease will feature 10% rental increases in Year 6 and at the beginning of each option period. Initial cap rate of 6.0% and NOI of $192,000.

Map

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Jason Hart

Broker

DRE #01334694

O:  805.481.9010

C:  805.709.6491

E:   jason@hartcre.com

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