1338 Atascadero RD Morro Bay, CA 93442
UPDATED:
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
MLS Listing ID PI26134619
HOA Y/N No
Year Built 1970
Lot Size 2.900 Acres
Property Sub-Type Business
Property Description
Sale Terms & Flexible Financing Seller financing available — own with favorable terms and without conventional bank financing
Lease-to-own / lease option structures are available for qualified buyers. Flexible, creative deal structures
Morro Bay's most distinctive gathering spaces at an exceptional price, just $343.75 per square foot — Freestanding event center on 2.9 acres offers turnkey space at a fraction of replacement cost and well below typical improved-commercial pricing on California's Central Coast. Located just minutes from the beach, downtown Morro Bay. The main hall occupant load of up to 573 standing, 409 in auditorium seating, or 191 seated at tables — A separate Family Room seats up to 50, and the floor plan includes a commercial-style kitchen, stage, restrooms, office, and on-site storage, plus a flexible ±2,400 SF wing.
A standout amenity: on-site overnight RV parking is permitted for lodge events (ZON2024-01154) — a rare feature allowing multi-day gatherings to stay on-site. Major Recent Improvements
The current ownership has invested significantly in the property, delivering a turnkey building with major systems and curb appeal already addressed:
New asphalt, New landscaping, Fresh exterior paint, and new windows.
While proven as a wedding and banquet venue, SLO County approved for broad slate of permitted uses, widening the field of potential owner-operators well beyond traditional event hosting:
Meetings, conferences, and community gatherings
Weddings, parties, and catered events
Auctions and periodic sales
Dances, musical performances, stage plays, and movie showings
Fashion shows, art festivals, and collector shows
Fundraisers, political meetings, and polling place use
Religious and cultural events, funerals, and memorials
Distribution center and storage use
Private membership club activities and emergency shelter use
Owner-occupant events or hospitality business, a church or congregation, an auction house, a performing-arts or fitness/dance operation, a training provider, a nonprofit, or a membership organization. Buyers should confirm their intended use with the County.
Value-Add Potential: The parcel includes existing mobile home/RV spaces recognized as a legacy use; any expanded RV or camping operation would be subject to SLO County permitting, offering a savvy buyer a path to additional upside beyond the core event-center business.
Location
State CA
County San Luis Obispo
Area Mrby - Morro Bay
Zoning AG-REC
Rooms
Other Rooms Living Quarters
Interior
Heating Forced Air, Propane, Space Heater
Fireplace No
Laundry Washer Hookup, Electric Dryer Hookup
Exterior
Fence Excellent Condition, Security, Wrought Iron
Utilities Available Cable Available, Electricity Connected, Propane, Other, Phone Available, Sewer Connected, Underground Utilities, Water Connected
Waterfront Description Ocean Access
Roof Type Flat
Present Use Recreational
Total Parking Spaces 80
Building
Lot Description 2-5 Units/Acre, Agricultural, Drip Irrigation/Bubblers, Front Yard, Garden, Sprinklers In Rear, Sprinklers In Front, Lawn, Lot Over 40000 Sqft, Landscaped, Level, Paved, Secluded, Sprinkler System, Street Level, Value In Land, Yard
Story 1
Water Private, Well
Additional Building Living Quarters
Others
Tax ID 073085016
Security Features Security System,Security Gate
Acceptable Financing Cash, Conventional, 1031 Exchange, Lease Option, Owner Will Carry, Owner May Carry, Submit
Listing Terms Cash, Conventional, 1031 Exchange, Lease Option, Owner Will Carry, Owner May Carry, Submit
Special Listing Condition Standard
Lease Land No
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