1 Virginia Avenue Unit #SPACE B, Rehoboth Beach, DE 19971

$849,000
List Price
$849,000
Days on Market
18
Status
ACTIVE
MLS#
DESU183952
Year Built
1974
County
Sussex
School District
Cape Henlopen

Property Description

Prime commercial/retail space located directly on the Rehoboth Beach boardwalk! This is a rare opportunity to own 4000 +/- sqft of commercial space on the amazing Rehoboth Beach boardwalk just steps away from the sandy beaches and Atlantic Ocean. This property is located on the ground floor of the One Virginia Avenue building. Property has the potential to be subdivided into multiple retail or office spaces. If desired, current tenant (Rehoboth Toy & Kite) will lease back the space for 5 years at a rental rate of $60,000/year. Current tenant has operated successfully at this location for over 25 years. Net income equates to a 5% annual ROI. Earn 5% return annually, benefit from depreciation deduction, and obtain superior appreciation from this oceanfront investment property. Call to schedule a showing.

Additional Information

Area
Lewes Rehoboth Hundred (31009)
Taxes
$3322
School District
Cape Henlopen
Flooring
Carpet, Concrete, Tile/Brick
Heating
Zoned, Heat Pump(s)
Heating Fuel
Electric
Cooling
Central A/C, Ceiling Fan(s), Heat Pump(s)
Utilities
Cable TV, Phone Connected
Water
Public
Sewer
Public Sewer

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Cape Realty.