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.
Listing courtesy of Cape Realty.