$1,500,000
$2,450,000
38.8%For more information regarding the value of a property, please contact us for a free consultation.
4,593 SqFt
SOLD DATE : 11/21/2018
Key Details
Sold Price $1,500,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 4,593 sqft
Price per Sqft $326
Subdivision South Rehoboth
MLS Listing ID 1001565104
Sold Date 11/21/18
HOA Y/N N
Originating Board SCAOR
Year Built 1974
Annual Tax Amount $3,174
Lot Size 10,422 Sqft
Acres 0.32
Property Description
Location, location! One story office building on the corner of Rehoboth Ave and Sate Road with excellent exposure. Zoned C-1 Commercial. "Rigby's Restaurant- 2643 Sq. Ft. + 758 Sq. Ft. Patio Area has a renewed lease to 2023 (w/annual increase). They pay $64,927 NNN in 2018. Lawson Firm- 688 sq. ft. Triple net leasing income is $64,927. Roof replaced in 2014; Painted 2013; 2 HVAC units new in 2012. For FUTURE POTENTIAL if you wish to re-build, the City will allow a building area of 20,844 (2.0FAR). Maximum building height is 42 ft. Property is fronting on both Rehoboth Avenue and State Road.
Location
State DE
County Sussex
Area Lewes Rehoboth Hundred (31009)
Zoning C1
Interior
Hot Water Electric
Heating Forced Air, Heat Pump(s)
Cooling Heat Pump(s)
Flooring Carpet
Fireplace N
Heat Source Electric
Exterior
Waterfront N
Water Access N
Roof Type Shingle,Asphalt
Street Surface US Highway/Interstate
Accessibility Mobility Improvements, Ramp - Main Level
Road Frontage City/County
Parking Type Parking Lot
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Cape Henlopen
Others
Tax ID 334-13.20-224.00
Ownership Fee Simple
SqFt Source Estimated
Security Features Security System,Smoke Detector
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with DAVID MCCARTHY • Mann & Sons, Inc.
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