$1,100,000
$1,295,000
15.1%For more information regarding the value of a property, please contact us for a free consultation.
2,304 SqFt
SOLD DATE : 08/27/2020
Key Details
Sold Price $1,100,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 2,304 sqft
Price per Sqft $477
Subdivision None Available
MLS Listing ID DESU159092
Sold Date 08/27/20
HOA Y/N N
Originating Board BRIGHT
Year Built 1850
Annual Tax Amount $688
Tax Year 2020
Lot Size 1,742 Sqft
Acres 0.04
Lot Dimensions 37.00 x 51.00
Property Description
Have you been looking to own a once in a lifetime property in the heart of downtown, Historic Lewes? This rare, turnkey investment property is sure to amaze you and your financial advisor! The first-floor features a fully functioning restaurant & bar space with seating for 50+, which is currently leased for the next five years at $48,000 per year. The second-floor features two beautifully remodeled vacation rental apartments which produced more than $48,600 in rental income in 2019. Between the restaurant/bar and the two apartments, this property is projected to produce approximately $100,000 in annual income! Nestled in the middle of Historic Lewes' shopping and restaurant district, this property is a stone s throw from the Lewes & Rehoboth Canal and just a short walk or bike ride to Lewes Beach. This 1850's built property is also situated only one block away from The Lewes Canalfront Park & Marina. If you are tired of the volatility of the stock market, looking to diversify your investment portfolio, or you want to have a place of your own in Historic Lewes, then you owe it to yourself to visit this historic 1850's gem!
Location
State DE
County Sussex
Area Lewes Rehoboth Hundred (31009)
Zoning TN 651
Interior
Hot Water Electric
Heating Heat Pump(s)
Cooling Central A/C
Flooring Hardwood, Tile/Brick
Equipment None
Heat Source Electric
Exterior
Utilities Available Cable TV Available, Phone Available, Sewer Available, Water Available
Water Access N
View Canal, Street, Park/Greenbelt
Roof Type Metal
Street Surface Paved
Accessibility Mobility Improvements
Road Frontage City/County
Garage N
Building
Lot Description Other
Sewer Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Lewes
Middle Schools Beacon
High Schools Cape Henlopen
School District Cape Henlopen
Others
Tax ID 335-08.08-30.00
Ownership Fee Simple
SqFt Source Estimated
Security Features Smoke Detector
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with Ian Blyth • Keller Williams Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "