Nearly 11 acres of undeveloped land on Seal Beach’s coast is up for sale, with expectations that the buyer will turn the site into a hotel.
The owner, Seal Beach-based Bay City Partners LLC, is asking $26.5 million for the 10.7-acre parcel, which has been empty for nearly 30 years. An adjacent 0.6-acre parcel also is for sale, for $6 million.
Zoning for the main property should allow up to 150 hotel rooms to be built on the site.
A majority of the land, which runs next to the beach, would remain available for public use and as open space.
Brokers at the Newport Beach office of Marcus & Millichap Real Estate Investment Services Inc. are marketing the land, which is at the southwest corner of Marina Drive and First Street, next to the San Gabriel River channel.
The site’s about nine blocks north of the Seal Beach pier.
For more on this story, read the Aug. 18 edition of the Business Journal.
