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18289 Coastal Highway, Lewes, DE 19958
$2,925,000
18289 Coastal Highway, Lewes, DE 19958View this property at 18289 Coastal Highway, Lewes, DE 19958
18289 Coastal HighwayLewesDE19958
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Property Description
Exciting Investment Opportunity in Lewes, Delaware's Premier Tourist Hub! Located along the bustling Coastal Highway, this prime property offers an exceptional investment prospect in the heart of Lewes, Delaware's most popular tourist area. Comprising two buildings, each with established ground-floor tenants, this offering provides an enticing opportunity for additional rental income from their vacant second floors. The first building boasts a thriving restaurant, already a beloved destination for locals and tourists alike, complete with hardwood flooring, updated bathrooms and fixtures, and an expansive covered porch eating area connecting the spacious kitchen with guest dining areas. Furthermore, its upper floors present an untapped resource: customizable office and storage spaces, poised to generate even greater revenue. The second building features a long-standing salon on the ground floor, ensuring stable rental income. Upstairs, an inviting blank canvas awaits, with potential for conversion into either a lucrative residential rental or versatile office space. Complete with an eat-in kitchen, full bath, two spacious rooms adaptable as bedrooms or private offices, and a breathtaking panoramic view of the surrounding area, this space is primed for success. Plus, its private rear entrance adds a touch of exclusivity and convenience. Don't miss out on this unparalleled opportunity to invest in Lewes, Delaware's dynamic tourist landscape. Act today to seize this chance to diversify your portfolio and unlock the full potential of this remarkable property! **Please DO NOT visit property without scheduling an appointment with licensed agent.**
Full Property Details
Full Property Details for 18289 Coastal Hwy
General
- Price: $2,925,000
- Taxes: $5,117 (2023)
- Status: Active
- Type: Warehouse
- MLS ID: DESU2057444
- Updated: 5/3/2024
- Added to Site: 70 day(s) ago
Business
- Business Type: Restaurant/Bar, Storage, Hair Salon and Spa, Flex
Interior
- Flooring: Carpet, Vinyl
Rooms
Bathrooms
- Restrooms: 6
Parking
- Total Spaces: 58
- Parking Features: Handicap Parking, Lighted Parking, Paved Parking
- Parking Type: Parking Lot
Location
- Area: Lewes Rehoboth Hundred (31009)
- County: Sussex
- Development Name: None Available
- Subdivision: None Available
- Cross Streets: Kings Hwy & Route 1, Coastal Hwy
- Driving Directions: Property is located on the NB side of Route 1, just south of Kings Hwy.
- Location Details: Highway
School Information
- High School: Cape Henlopen
Heating & Cooling
- Central air: Yes
- Cooling Type: Central A/C
- Cooling Fuel: Electric
- Heating Type: Forced Air
- Heating Fuel: Propane - Leased
- Water Heater: Electric
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Cable TV, Propane, Phone
Structural Information
- Construction: Vinyl Siding
- Roof: Architectural Shingle
- # Loading Docks: 1
- Entry Floor Number: 1
- Stories/Levels: 2
- Year Built: 2007
- Year Built Source: Estimated
- Property Condition: Very Good
Unit Information
- # Tenants: Multiple
Manufactured Home
Park Information
- Park Information: NA
Lot Features
- Lot Size (Acres): 0.9
- Lot Size (Sq. Ft.): 39,204
- Lot Size Source: Estimated
- Lot Dimensions: 150.00 x 262.00
- Zoning: C-1
Financial Considerations
- Operating Expenses: $15,000
- Assessment Year: 2023
- School Tax: $4,654
- County Tax: $462
- County Tax Freq: Annually
- Tax Amount: $5,117
- Tax Year: 2023
Disclosures and Reports
- Buyer’s Brokerage Compensation: 3%
- Ownership: Fee Simple
- Exclusions: Crab weathervane, brick wall with plaque, handwashing sink in restaurant hall area, bar top in main restaurant and bar in deck seating area
- Inclusions: Real Estate Only - Equipment and Businesses are NOT part of sale.
- Investment: Yes
Listed by Bryan Realty Group, Tyler Anaya
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Schools
Schools serving 18289 Coastal Hwy
School District:Cape Henlopen School District
Rating | Name | Grades | Distance |
---|---|---|---|
910 Shields Ave, Lewes, DE 19958 | PK-5 | 1.7 mi | |
16391 Harbeson Rd, Milton, DE 19968 | 5-8 | 9 mi | |
1250 Kings Hwy, Lewes, DE 19958 | 9-12 | 1.1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 18289 Coastal Hwy
Date
Details
Price
Change
Source
5/03/2024
Price Reduced
$2,925,000
-2.17%
MLS
3/08/2024
Listed
$2,990,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 18289 Coastal Hwy
Year
Property Taxes
Change
Tax Assessment
Change
2023
$5,117
4%
$103,900
—
2022
$4,938
1%
$103,900
—
2021
$4,893
—
$103,900
—
2020
$4,878
—
$103,900
—
2019
$4,885
7%
$103,900
—
2018
$4,563
4%
$103,900
—
2017
$4,369
5%
$103,900
—
2016
$4,150
5%
$103,900
—
2015
$3,966
1%
$103,900
—
2014
$3,937
3%
$103,900
—
2013
$3,825
—
$103,900
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 18289 Coastal Hwy
18289 Coastal Highway, Lewes, DE 19958 (MLS# DESU2057444) is a Warehouse property. 18289 Coastal Highway is currently listed for $2,925,000 and was received on March 08, 2024. Want to learn more about 18289 Coastal Highway? Do you have questions about finding other Warehouse real estate for sale in Lewes? You can browse all Lewes real estate or contact a Coldwell Banker agent to request more information.