18282 COASTAL HIGHWAY

LEWES, DE, 19958

$2,400,000

$347 per ft²
$2,400,000
$347 per ft²
Active Under Contract
Active Under Contract
 - For Sale
carpenters-square
6,900 ft²
property_type
Commercial
calendar
Built 1980
REDEVELOPMENT OR HOSPITALITY EXPANSION OPPORTUNITY! The Driftwood Motel is situated on the busy Route 1 corridor in Lewes, DE. The motel features 9 rooms that are rented on a weekly basis and remain consistently full. Gross rental income for 2021 was in excess of $211,000. The owner is currently limiting rentals to only full weeks. Additional income is likely available to an operator offering shorter term stays. The property is two parcels for a combined 1.45 acres boasting the coveted C1 commercial zoning. The motel is on public utilities. There is a residence towards the rear of the property that has been well maintained. There is currently no income on the home as the operator spends weekends there. This property is a great value add opportunity for a hotel/motel operator or as a redevelopment play along one of the busiest corridors in the state of Delaware. Showings available by appointment only with qualified buyer.
MLS® ID:
DESU2013510
Updated:
8/17/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Central A/C
Heating
Baseboard - Electric

Exterior/Building Features

Lot Size
1.45 acres lot
Sewer
Public Sewer

School Information

School District
CAPE HENLOPEN

Other Property Details

Area Name
Lewes Rehoboth Hundred (31009)
Taxes
$1535.00
Tax Frequency
per YEAR
Garage
No
Parking
N
View
N
County
SUSSEX
Water Source
Public
Pool
No
Zoning
C1

Property History

Date
Event
Price
Value
8/1/22
Active Under Contract
-
-
8/1/22
Price Change
$2,400,000
109%
6/29/22
Active
-
-
4/29/22
Pending
-
-

Courtesy of SVN/Miller Commercial Real Estate

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s), the owner of this website, nor Luxury Presence shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

©2022 BRIGHT MLS. All rights reserved.

Data last updated 9:43 PM UTC, 8/17/22

Contact