Contacts
Darshan Patel
Property Details
- Property Type Land - Mixed Use (land)
- Lot Size 7.29 Acre
- Date Updated Mar 2, 2026
Darshan Patel is pleased to exclusively present the rare opportunity to acquire a fully entitled ±7.29-acre mixed-use hospitality development site in the highly coveted and supply-constrained Central Coast of California. The project features an opportunity to develop two individual hotels and includes 7 single family residential lots as part of its approved vesting tentative tract map. 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.
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.
Broker Co-Op Available: Yes
Offering Memorandum is available automatically after execution of the confidentiality agreement. Please inquire for additional project files and available due diligence package. Darshan Patel is acting as principal and broker for this offering and eventual transaction.
Reach out to the broker for more info on lease terms and amenities
Highlights
- 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.
- Elite Coastal Location: Situated less than 2 miles from downtown Pismo Beach, the Pismo Pier, Oceano Dunes, and beach access, placing the project at the heart of the Central Coast's tourism engine.
- High-Barrier Market: Capitalizes on the permanent scarcity of lodging supply and the notoriously difficult, multi-year approval process inherent to the California coastal zone.
- Unrivaled Visibility: Unique approvals are in place for two 50-foot highway-oriented pylon signs along the US Highway 101 corridor.
- Fully Entitled & Shovel-Ready: A rare ±7.29-acre site with active entitlements, environmental permits, and a Vesting Tentative Tract Map already in place securing advantageous DIFs.
- Dual-Hotel Strategy: Entitled for two separate hotels totaling up to 186 units, allowing for maximized operational synergy and multi-segment market capture.
- Aggressive Development Incentives: Significant financial support via negotiated key money, deferred DIFs, and TOT reimbursements to enhance project yields.
- 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.
- Built-in Liquidity: Includes seven single-family residential lots that can be developed, converted or sold separately to generate early ROI.
- 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.
- Strong Fundamentals: Local STR (Smith Travel Research) data indicates a resilient hospitality market with consistent year-round occupancy from leisure, group, and business travel.
Attachments
Getting around
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65/100
Walk Score ®
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31/100
Bike Score ®
Location
- City Grover Beach, CA
- Zip Code 93433
- Market Central Coast
Points of Interest
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Grover Beach
1.26 miles
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Gill's Foodmart
0.58 miles
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Chevron
0.69 miles
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Arco
0.83 miles
-
76
0.98 miles
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Electrify America DC Fast Chargers
1.25 miles
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Shell
1.30 miles
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Valero
1.33 miles
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Self-serve Fuel
1.97 miles
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EV Charging Station
7.08 miles
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Mindbody EV Charging
8.36 miles
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Halcyon Rd Park & Ride
1.21 miles
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7 - Eleven Parking lot
1.67 miles
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Addie Street Parking Lot
1.84 miles
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Pismo Pier Parking Lot
2.00 miles
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Public Parking
2.04 miles
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Equestrian Trailer Parking
2.94 miles
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Pismo Preserve Trail Parking
2.94 miles
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Bob Jones City to Sea Bike Trail Park and Ride
6.56 miles
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Oso Flaco Lake Parking
6.95 miles
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Car Rental Return Lot
7.75 miles
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Holliday Inn Express
0.09 miles
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Best Western Casa Grande Inn
0.28 miles
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Hampton Inn & Suites
0.43 miles
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Premier Inn Motel
0.47 miles
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Oxford Suites Pismo Beach
0.70 miles
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Motel 6
0.78 miles
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Hilton Garden Inn Pismo Beach
0.82 miles
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Seaview Inn
1.01 miles
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American Inn
1.05 miles
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Aloha Inn
1.23 miles
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Ross
0.32 miles
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Smart & Final
0.53 miles
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Walmart
0.65 miles
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Vons
0.66 miles
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Food 4 Less
0.77 miles
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ALDI
0.81 miles
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Marshalls
0.83 miles
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Trader Joe's
0.90 miles
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California Fresh Market
0.91 miles
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Pismo Beach Premium Outlets
1.11 miles
Darshan Patel
