$2,200,000
$2,495,000
11.8%For more information regarding the value of a property, please contact us for a free consultation.
4,350 SqFt
SOLD DATE : 12/15/2023
Key Details
Sold Price $2,200,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 4,350 sqft
Price per Sqft $505
MLS Listing ID DESU2035828
Sold Date 12/15/23
Originating Board BRIGHT
Year Built 1916
Annual Tax Amount $3,082
Tax Year 2021
Lot Size 5,000 Sqft
Acres 0.11
Lot Dimensions 50.00 x 100.00
Property Description
Prime corner and highly desired commercial location at the intersection of Rehoboth Avenue and 2nd Street! Just 2 blocks from the beach and directly across from the new Coastal Hotel (extension of Hilton), this premier commercial space consists of 4 retail units that generate approximately $125,000 of revenue annually. Numerous recent upgrades were completed in 2020 and include new floors, interior walls, lighting, entrance doors, ADA bathroom, two new A/C units, and a new heat pump. In 2021 three new hot water heaters were installed. In 2022, two furnaces were replaced with high-efficiency units. Unit A (Charmed City Run) has exclusive use of the rear door, parking space, and attic for storage. Unit B (Gel Z Art) includes 2 large windows on Second Street, a back room, and half bath. Unit C (204 Rehoboth Ave - Into the Mystic) includes a small storage closet and half bath. Unit D (Coastal Hobo) includes a rear access door and a 4,000 SF basement with high ceilings for storage. Excellent investment opportunity!
Location
State DE
County Sussex
Area Lewes Rehoboth Hundred (31009)
Zoning TN
Interior
Hot Water Electric
Heating Heat Pump(s), Zoned, Baseboard - Hot Water
Cooling Central A/C, Multi Units, Window Unit(s)
Flooring Carpet, Luxury Vinyl Plank, Laminated
Heat Source Electric, Propane - Leased
Exterior
Garage Spaces 1.0
Utilities Available Propane, Electric Available
Waterfront N
Water Access N
View Street
Roof Type Metal
Accessibility 32\"+ wide Doors
Parking Type On Street, Other
Total Parking Spaces 1
Garage N
Building
Lot Description Corner
Foundation Block
Sewer Public Sewer
Water Public
New Construction N
Schools
High Schools Cape Henlopen
School District Cape Henlopen
Others
Tax ID 334-14.17-328.00
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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