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18282 Coastal Hwy - The Inn at Lewes 1.45 Acres of Commercial Land Offered at $2,390,000 in Lewes, DE 19958
Investment Highlights
- Ideal redevelopment property
- 1.45 acres currently with income producing "motel units"
- Zoning allows for Multi family
Executive Summary
Ideal 1031 property being offered on SB Coastal Hwy, for under $2.4mm. Own this C-1 property that allows for redevelopment, including residential Multi family/w/County approvals. Rarely offered 1.45 acres of premium Route One commercial lands. Between Lewes Beach and Rehoboth Beach, perfectly situated on the SB lanes, just past the WaWa. Property offering includes Parcel 492. Included are 9 fully equipped rental cottages along with a single family of approximately 2500 sf.
Property Facts
1 Lot Available
Lot
| Price | $2,390,000 | Lot Size | 1.45 AC |
| Price Per AC | $1,648,275.86 |
| Price | $2,390,000 |
| Price Per AC | $1,648,275.86 |
| Lot Size | 1.45 AC |
C-1 commercial zoning. Highest and best zoning allows redevelopment including residential use. 1.45 acres directly on Route One, Coastal Hwy. This property currently has 9 motel units and one single family home (prior office). Central utilities.
Description
Improved but ready for redevelopment. Rarely offered 1.45 acres of Commercial property on Route One, LEWES, DE.
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $52,700 | |
| Land Assessment | $18,750 | Total Assessment | $71,450 |
Property Taxes
Parcel Numbers
Land Assessment
$18,750
Improvements Assessment
$52,700
Total Assessment
$71,450
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18282 Coastal Hwy - The Inn at Lewes
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