A premium commercial property on the corner of Monterey Road and Main Avenue in Morgan Hill’s popular downtown is up for sale, according to an online real estate listing.
El Toro Brewing Company brewpub, owned by Geno and Cindy Acevedo, currently occupies the 17605 Monterey Street address and has since opening in 2006. Now, the building is for sale at a hefty price tag of $5.4 million.
“Rare opportunity to own a unique brew pub restaurant facility and downtown development opportunity in the heart of energized downtown Morgan Hill,” reads the real estate listing, which can be found on laurenronan.com/property/ca/95037/morgan-hill/-/17605-monterey-st/58ad17adbb97525a02000001/.
John Telfer of South County Realty in Morgan Hill is the listing agent.
The building, which sits on about a .75-acre lot with a large parking area, is 7,257 square feet with 300 indoor seating as well as 100 outdoor seats in a 2,000 square foot patio dining area.
Amenities in the listing include a “Wolfgang Puck” wood fired pizza oven and fire pit, custom-designed “Poppy Jasper” stone bar, central AC and kitchen facility designed for high capacity restaurant operations.
The Acevedos could not be reached for comment.
The building, originally built in 1964, was the old Morgan Hill police station before the Acevedos purchased and remodeled it. After launching El Toro Brew Company in 1994, the couple opened the pub 12 years later in the prime location.
In 2007, the Morgan Hill Redevelopment Agency loaned the Acevedos $400,000 for construction costs to remodel the building when El Toro moved in a year earlier. The pub owners were behind on payments to the RDA as of 2011, when the agency was dissolved by the state of California. The loan transferred to state authorities at that time.
The building was previously occupied by the Morgan Hill Police Department. The Acevedos originally purchased the property from the RDA. They invested $1 million in equity and $1.9 million in bank loans to purchase and remodel the building before they acquired the RDA loan.
This story has been updated to clarify the listing agent for the property sale.
