1338 Atascadero RD Morro Bay CA 93442 | MLS #PI26134619

8,000± SF Event Center on Highway 41 — For Sale at $2,750,000 ($343.75/SF)
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.