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2223 Monterey St 4.21 Acres of Commercial Land in San Luis Obispo, CA 93401
Investment Highlights
- Fully entitled for an 83-key hotel development with shovel-ready status.
- Site of the original Motel Inn, offering a historic narrative and branding potential.
- Centrally positioned between Cal Poly University and downtown San Luis Obispo, supporting strong demand drivers.
- Located along U.S. Highway 101 with immediate on/off access and visibility to 46,500 vehicles daily.
- Flexibility for re-entitlement to mixed-use, residential, or assisted living consistent with C-T zoning.
- Situated in the Upper Monterey Area Specific Plan, enhancing long-term design and investment alignment.
Executive Summary
The Tourist Commercial (C-T) zoning provides significant flexibility, allowing not only hospitality development but also potential for mixed-use projects that could incorporate residential, assisted living, and compatible commercial uses. With a traffic count of 46,500 CPD, the property ensures unparalleled exposure and accessibility. The combination of historical legacy, central coastal location, and entitlement security creates a unique platform for investors or developers seeking long-term value and a prominent presence in California’s Central Coast market.
Property Facts
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Proposed Use | Hotel |
| Property Type | Land | Total Lot Size | 4.21 AC |
| Zoning | CT - Tourist Commercial (C-T) Zone Specific Plan: Upper Monterey Area | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Hotel |
| Total Lot Size | 4.21 AC |
| Zoning | CT - Tourist Commercial (C-T) Zone Specific Plan: Upper Monterey Area |
1 Lot Available
Lot
| Lot Size | 4.21 AC |
| Lot Size | 4.21 AC |
Description
Site of the original Motel Inn — the “World’s First Motel” — this freeway-adjacent property is destined to be the Central Coast’s next great development. Fully entitled for an 83-key hotel, this construction-ready opportunity combines a storied past with a bright hospitality future. Alternatively, the property can be re-entitled as a mixed use project focusing on a variety of allowed residential types including multi-family and assisted living uses, in addition to a variety of commercial uses. Situated along US Highway 101 with 46,500 CPD, the 4.21-acre site offers exceptional freeway visibility, immediate highway access, and a central location between Cal Poly and downtown SLO. This property carries a story that cannot be replicated and represents a once-in-a-lifetime hospitality redevelopment opportunity in San Luis Obispo. Sale Price: Unpriced Land Size: 4.21 Acres (183,387 SF) (owners open to a lot line adjustment) Building: 2,410 SF APN: 001-075-024, 025, 026 Zoning: Tourist Commercial (C-T) Zone Specific Plan: Upper Monterey Area Year Built: 1925 Condition: Shovel-ready site with existing historic structure Entitlements: 83-key hotel Signage: Immediate freeway visibility in both directions Traffic Count: 46,500 CPD
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2223 Monterey St
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