$5,500,000
Atascadero, CA 93422
San Luis Obispo
County
Land
Property Type
FOR SALE: Fully-approved, mixed-use development. Multi-family, Retail, Vacation rentals. 5.19 Acres. Seven Parcels. Fully-Entitled. Shovel-ready project. Dove Creek is a fully-approved, shovel-ready mixed-use development opportunity on California's Central Coast — a 5.19-acre site located one block from Highway 101 on Atascadero's main commercial corridor, El Camino Real. Positioned between the Paso Robles and San Luis Obispo wine regions and the Pacific Ocean, the region offers a strong tourism and housing market with high demand for retail and hospitality. Local demand continues to grow for dining, entertainment, and visitor accommodations, and the highest per-capita incomes in the county, Atascadero remains underserved for retail. 5.19 ACRES 71 RESIDENTIAL CONDOS 20 VRBO / HOTEL ROOMS 14,840 SF RETAIL 7 PARCELS (VTTM) The site is midway between San Francisco and Los Angeles, and just a 15-minute drive to the City of San Luis Obispo. The area draws consistent visitor traffic from more than 250 area wineries, year-round outdoor recreation, and a thriving tourism economy. Dove Creek offers the opportunity to deliver a transformative, walkable mixed-use destination. Residential Condominiums: 71 units (one- and two-bedroom), designed for both long-term rental and condominium sales. Vacation Rental / Hotel: 20-room VRBO / hotel offering with kitchens — purpose-built for region's thriving hospitality market, capturing wine country and coastal tourism demand. Commercial Retail 14,840 square feet across four buildings. Community seeks dining, entertainment, and specialty retail. Entitlement — Vesting Tentative Tract Map: 7 parcels, airspace subdivision, residential & commercial — Fully city-approved — Development flexibility across multiple parcels offers phasing The approved master plan organizes seven residential and commercial buildings around a central pedestrian spine, farmer's-market plaza, and structured parking — creating a walkable, village-scale destination anchored by El Camino Real frontage.
$29,273/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
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