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176 Central Ave Pacific Grove, CA, 93950
$1,095,000 $55,000 Commercial under contract Comm Ind For Sale
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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Property details
5,523 sqft interior area
Land area
6,755 sqft (0.16 acres)
Days on Verhouse
234
Address
176 Central Ave, Pacific Grove, CA, 93950
City of California
Pacific Grove
County
Monterey
Year Built
1950
District
Listing
Virtual Tour
Nearby major retailers
Costco
Trader Joe's
Whole Foods Market
Safeway
Wholesale: 1
Supermarket: 4
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Interior Features
—
Roof
Shingle
Listed by
Monterey Peninsula Home Team, KW Coastal Estates
Name
Monterey Peninsula Home Team
License number
70000352
Brokerage company
KW Coastal Estates
MLS #
ML81942469
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Calculate your monthly payments
Mortgage
$3,362
Taxes
$0
HOA dues
$0
Mortgage
$219,000 / 20%
2.28%
30 years
Your amount
$3,362 / month
Lot details
TMK #006234010000
Parcel nr.
006234010000
93950 info
Essentials nearby
Neighborhood stats
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
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no data
Beach
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no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
People living in 93950
34%
Families with children
National average: 39%
44%
Non family households
87,308
Population
$118,778
Average Income
Age & gender
Median age 45 years
More info
Commute types
76% commute by car
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Education level
26% have bachelor education
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Number of employees
7% work in education and healthcare
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Vehicles available
40% have 2 vehicle
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Vehicles by gender
40% have 2 vehicle
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Housing market insights for
$1.5m
Neighborhood average
sales price*
sales price*
$1.28m
Neighborhood median
sales price*
sales price*
145
Number
of sales*
of sales*
Housing type
55% are single detacheds
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Rooms
35% of the houses have 4 or 5 rooms
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Bedrooms
63% have 2 or 3 bedrooms
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Owners vs Renters
50% are renters
More info
12.83 / 20
Above Average
►
15-20
Most Walkable
10-15
Above Average
5-10
Below Average
1-5
Least Walkable
Walkability according to the National Walkability Index
Price history
Under contract May 7, 2024
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| May 7, 2024 | Under contract | $1,095,000 | 0 | MLS #ML81942469 |
| Mar 18, 2024 | For sale | $1,095,000 | 0 | MLS #ML81942469 |
| Mar 18, 2024 | Price Decrease | $1,095,000 -4.78% | 0 | MLS #ML81942469 |
| Mar 16, 2024 | Unavailable | $1,150,000 | 0 | MLS #ML81942469 |
| Jan 16, 2024 | For sale | $1,150,000 | 0 | MLS #ML81942469 |
| Jan 16, 2024 | Price Decrease | $1,150,000 -8% | 0 | MLS #ML81942469 |
| Jan 11, 2024 | Under contract | $1,250,000 | 0 | MLS #ML81942469 |
| Nov 1, 2023 | Price Decrease | $1,250,000 -10.01% | 0 | MLS #ML81942469 |
| Sep 19, 2023 | New Listing | $1,389,000 | 0 | MLS #ML81942469 |
Taxes of 176 Central Ave, Pacific Grove, CA, 93950
VC zoning / MLS #ML81942469
Zoning
VC
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Frequently Asked Questions about 176 Central Ave
What is 176 Central Ave?
176 Central Ave is a Commercial/Industrial propertywith 5,523 sqft interior space.
What is the rental income?
-
What is the full address of this Commercial?
176 Central Ave, Pacific Grove, CA, 93950.
What comparable properties are nearby?
Comparable nearby commercial properties include 222 Grand Ave, 400 Tyler St, 1084 Cass St, 1088 Cass St, 805 Broadway Ave, 5 Harris Ct Unit C Ct.
Based on information from the bridgeMLS as of 05-09-2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing last updated on: May 07, 2024
Verhouse Last checked 1 minute ago
The closest grocery stores are Andronico's, 0.16 miles away and Grove Market, 0.69 miles away.
The 93950 zip area has a population of 87,308, and 34% of the families have children. The median age is 45.29 years and 76% commute by car. The most popular housing type is "single detached" and 50% is renter.
