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1598 El Camino Real - Coastal Hospitality Dev Site - Grover Beach 1.73 - 5.56 Acre Commercial Land Lots in Grover Beach, CA 93433
Investment Highlights
- Elite Coastal Location: Situated less than 2 miles from downtown Pismo Beach, the Pismo Pier, Oceano Dunes, and beach access.
- Dual-Hotel Strategy: Entitled for two separate hotels totaling up to 186 units for maximized operational synergy and multi-segment market capture.
- Aggressive Development Incentives: Significant financial support via negotiated key money, deferred DIFs, and TOT reimbursements.
- Fully Entitled & Shovel-Ready: A rare ±7.29-acre site with active entitlements, environmental permits, and a Vesting Tentative Tract Map.
- High-Barrier Market: Capitalizes on the permanent scarcity of lodging supply and the notoriously difficult, multi-year approval process.
- Built-in Liquidity: Includes seven single-family residential lots that can be developed, converted or sold separately to generate early ROI.
Executive Summary
Darshan Patel is pleased to exclusively present the rare opportunity to acquire a prime ±7.29-acre mixed-use hospitality development site in the highly coveted and supply-constrained Central Coast of California. Located in Grover Beach, adjacent to Pismo Beach and Arroyo Grande, this entitled shovel-ready project is uniquely positioned to capture year-round demand in one of the state's most resilient hospitality and residential markets. The offering includes all active entitlements, permits, and construction-ready drawings, providing an investor with an immediate path to ground-breaking in a high barrier-to-entry market and significant savings on the typical multi-year coastal planning timeline.
Asking: Market Value - Unpriced
Broker Co-Op Available: Yes
PROJECT HIGHLIGHTS
Shovel-Ready Coastal Development: The project is fully entitled for a high-density mix including two individual hotels totaling up to 186 units and seven single-family residential lots.
Immediate Scale (Phase 1): Phase 1 construction documents for a 93-unit La Quinta Inn & Suites by Wyndham and sitewide improvements are currently in the final stages of building permit review.
Secondary Flag Potential: Hotel A is entitled for 91 to 93 units, offering the flexibility to brand with a premier global flag such as Hilton, Marriott, IHG, or Hyatt.
Aggressive Incentives: The project benefits from significant development incentives negotiated with the City of Grover Beach, "key money" contributions by Wyndham, deferred Development Impact Fees (DIFs), and Transient Occupancy Tax (TOT) reimbursements.
Premier Visibility & Access: Situated directly along the major US Highway 101 corridor, the site features rare approvals for two 50-foot pylon signs, ensuring permanent and maximum brand exposure to millions of annual coastal travelers further enhancing market share and capture.
Please inquire for additional project files and available due diligence package.
LOCATION OVERVIEW
The subject property is strategically located less than 2 miles from the world-renowned Pismo State Beach and Pismo Pier. The Central Coast market is characterized by extremely high barriers to entry and a limited supply of new lodging inventory.
Tourism Synergy: Adjacent to popular dining and brewery destinations, and just 15 minutes from the rapidly expanding San Luis Obispo County Airport, which is nearing 1,000,000 annual passengers.
Strong Fundamentals: Local STR (Smith Travel Research) data indicates a resilient hospitality market with consistent year-round occupancy from leisure, group, and business travel.
STRATEGIC FLEXIBILITY
This project offers multiple exit and liquidity strategies. An investor may choose to build and operate the entire portfolio for maximum synergy, or sell the seven residential lots during construction to generate immediate liquidity and enhance the overall return on investment. With hard construction bids in hand and several lenders already indicating interest via conventional, SBA, and USDA funding routes, this represents a rare, de-risked entry into a premier California submarket.
Investment Highlights
Phase 1 Immediacy: Construction drawings for the 93-unit La Quinta Inn & Suites are in their third round of city review, allowing for a condensed timeline to groundbreaking.
Brand Versatility: Hotel A remains open for branding with top-tier flags like Hilton, Marriott, IHG, or Hyatt.
Unrivaled Visibility: Unique approvals are in place for two 50-foot highway-oriented pylon signs along the US Highway 101 corridor.
Demonstrated Capital Interest: The project’s economics and location have secured willingness to lend from several regional and national lenders, offering a clear path to both construction and permanent financing.
Darshan Patel is acting as principal and broker for this offering and eventual transaction.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
2 Lots Available
Lot
| Lot Size | 5.56 AC |
| Lot Size | 5.56 AC |
Lot
| Lot Size | 1.73 AC |
| Lot Size | 1.73 AC |
Description
This is a compelling opportunity to develop and acquire a high-demand asset type in a high barrier-to-entry market with limited new supply. This offering presents a rare opportunity to acquire a ±7.29-acre, two-parcel, fully entitled mixed-use development site approved for: --Two individual hotels totaling up to 186 guest rooms --Seven single-family residential lots The project benefits from completed entitlements, an approved Vesting Tentative Tract Map, and secured Development Impact Fees (DIFs), providing a clear and immediate path to vertical construction. The first hotel — a 93-key La Quinta Inn & Suites by Wyndham — along with the master site improvements, is currently under municipal plan check and anticipated to receive building permit approval in the near term. The sale includes all associated development rights and documentation, including but not limited to: --Approved entitlements --Vesting Tentative Tract Map --Construction drawings and architectural plans --Permits and agency approvals --Development agreements --Supporting technical studies and reports This entitled project significantly reduces entitlement risk, timeline uncertainty, and upfront pre-development costs. The property is strategically located in Grover Beach, immediately adjacent to Pismo Beach and Arroyo Grande, within California’s Central Coast hospitality corridor. The coastal location features Highway 101 visibility and access, Coastal tourism drivers, and significant regional retail and dining amenities.
Property Taxes
| Parcel Numbers | Improvements Assessment | $199,118 | |
| Land Assessment | $910,259 | Total Assessment | $1,109,377 |
Property Taxes
Presented by
Darshan Patel
1598 El Camino Real - Coastal Hospitality Dev Site - Grover Beach
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