Price Reduction - Views
Listed By:
Bryan Realty Group
Address
18289 Coastal Highway, Lewes, DE
Price
$ 2,925,000
Property Attributes
  • MLS#DESU2057444
  • TypeCommercial
  • CountySUSSEX
  • CityLewes
  • AreaLewes Rehoboth Hundred
  • Zip19958
  • StyleRestaurant/Bar,Storage,Hair Salon and Spa,Flex
  • Year Built2007
  • Taxes$ 5117
  • Price$ 2,925,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage9012
  • Lot Size0.9 Acres
Data Source:
Bright MLS
Property Description

Exciting Investment Opportunity in Lewes, Delaware's Premier Tourist Hub! Located along the bustling Coastal Highway, this prime property offers an exceptional investment prospect in the heart of Lewes, Delaware's most popular tourist area. Comprising two buildings, each with established ground-floor tenants, this offering provides an enticing opportunity for additional rental income from their vacant second floors. The first building boasts a thriving restaurant, already a beloved destination for locals and tourists alike, complete with hardwood flooring, updated bathrooms and fixtures, and an expansive covered porch eating area connecting the spacious kitchen with guest dining areas. Furthermore, its upper floors present an untapped resource: customizable office and storage spaces, poised to generate even greater revenue. The second building features a long-standing salon on the ground floor, ensuring stable rental income. Upstairs, an inviting blank canvas awaits, with potential for conversion into either a lucrative residential rental or versatile office space. Complete with an eat-in kitchen, full bath, two spacious rooms adaptable as bedrooms or private offices, and a breathtaking panoramic view of the surrounding area, this space is primed for success. Plus, its private rear entrance adds a touch of exclusivity and convenience. Don't miss out on this unparalleled opportunity to invest in Lewes, Delaware's dynamic tourist landscape. Act today to seize this chance to diversify your portfolio and unlock the full potential of this remarkable property! **Please DO NOT visit property without scheduling an appointment with licensed agent.**

Price History
3/5/2024 Listed $2,990,000
5/3/2024 3% - $2,925,000

General Features

Sewer Public Sewer
Heating Forced Air
Cooling Central A/C
Utilities Cable TV,Propane,Phone
Possession Settlement
Roof Architectural Shingle
Zoning C-1
Construction Materials Vinyl Siding
Exclusions Crab weathervane,brick wall with plaque,handwashing sink in restaurant hall area,bar top in main restaurant and bar in deck seating area
Year Built 2007
Property SubType Mixed Use
Tax Year 2023
Percent Ownership Fee Simple
Cool Fuel Electric
Business Type Restaurant/Bar,Storage,Hair Salon and Spa,Flex
Accessibility None
County SUSSEX
Operating Expense 15000.00
Insurance Expense 5000.00
New Construction No
Property Type Commercial Sale
Subdivision Name NONE AVAILABLE
Possible Use Bar/Tavern/Lounge,Commercial,Financial,Food & Beverage,Medical/Dental,Mixed Use,Office,Professional Service,Restaurant,Retail,Spa
Water Access Y/N No
Property Use Investment
Status ACTIVE
Directions Property is located on the NB side of Route 1,just south of Kings Hwy.
ModificationTimestamp 2024-05-03T07:38:56
City LEWES
Buyer Agent Compensation 3
Disclosures Encumbrances,Under Lease
Total Units 4
MLS Area Lewes Rehoboth Hundred (31009)
Lot Size Square Feet 39204.00
Waterfront Y/N No
Street Name COASTAL
Tax Annual Amount 5117.0
Property Condition Very Good
Acceptable Financing Cash,Negotiable
Lease Considered Y/N No
Vacation Rental Y/N No
Virtual Tour https://www.asteroommls.com/pviewer?hideleadgen=1&token=Pz3cCB8s6UGBWBq_Z7ebeQ
Days on Market 57
Location Type Highway
Sussex DE Quadrants East of Rt 1
Standard Status Active
Year Built Source Estimated
Legal Subdivision LEWES-REHOBOTH
Buyer Agent Compensation Type % Of Gross
Association Recreation Fee No

Interior Features

Heating Fuel Propane - Leased
Flooring Carpet,Vinyl
Hot Water Electric
Total Stories 2
Heating Y/N Yes
Street Suffix HIGHWAY
Central Air Y/N Yes
Total Restrooms 6
Entry Level 1

Exterior Features

Parking Features Handicap Parking,Lighted Parking,Paved Parking
Water Source Public
Inclusions Real Estate Only - Equipment and Businesses are NOT part of sale.
Total Parking Spaces 58
Type of Parking Parking Lot
Land Use Code 999
Park Name NA
Water View Y/N No
Building Area Total 0.00
Lot Dimensions 150.00 x 262.00
Lot Size Acres 0.90
Lot Size Units Square Feet
Lot Size Source Estimated
Total Loading Docks 1
Road Responsibility State
Navigable Water Y/N No
Water Oriented Y/N No
LotDimensionsSource Assessor
Car Parking Spaces 50

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 19958

Price
AVG $630K
$2.93M
Taxes
AVG $1,755
$5,117
Visits
AVG 147
72
Data Provided by Inside Real Estate®
Year Built
AVG 1998
2007

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