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Key Details
Sold Price $8,675,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 70,000 sqft
Price per Sqft $123
MLS Listing ID DESU142362
Sold Date 01/15/20
HOA Y/N N
Originating Board BRIGHT
Year Built 2004
Annual Tax Amount $37,954
Tax Year 2018
Lot Size 4.130 Acres
Acres 4.13
Lot Dimensions 0.00 x 0.00
Property Description
Dream of owning your own hotel or Inn. Does that dream include living at the beach. Here is your unique opportunity to own 93 room hotel, located between two amazing beaches. Directly in the middle of all the action Rt 1 has to offer with Lewes in one direction and the award winning beaches of Rehoboth Beach in the other. Fantastic restaurants, shopping, entertainment, golfing and so much more are right at your doorstep. This hotel/Inn is only open seasonally with the strong financials to back it up. But with some tender loving care and the right owner, this is definitely a year around gem just waiting to be polished. The hotel/Inn sits on more than 4 acres of land on what displays like it's own private island, with shopping, restaurants and entertainment within walking distance. There are 93 rooms which break down as follows. 48 Standard rooms each with 2 queen beds. 23 Balcony rooms each with 2 queen beds. 12 Family rooms each with 3 queen beds. 5 ADA compliant rooms with 2 queen beds each and 5 two (2) room suites. The building is 4 stories with a 2,000 sq ft basement. 5 stop elevator. Large pool with patio area and a small health room/cardio area. The building estimated around 70,000 sq ft and with all that it has to offer it has the potential to be one of the areas top accommodation attractions. Part of the rear lot is undeveloped and with the right permits there are some additional options to be had there as well. There is so much untapped potential here. With the right buyer/investor, the returns are there for the taking. Do not let this one get away. Call today for your private showing. More photos room and interior photos to come.
Location
State DE
County Sussex
Area Lewes Rehoboth Hundred (31009)
Zoning D
Interior
Hot Water Propane
Heating Wall Unit, Other
Cooling Wall Unit, Other
Heat Source Electric
Exterior
Garage Spaces 136.0
Water Access N
View Golf Course, Panoramic, Street, Other
Accessibility Doors - Swing In, Elevator, Grab Bars Mod, Other
Total Parking Spaces 136
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Cape Henlopen
Others
Tax ID 334-06.00-355.03
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with SANDRA L WARE • Berkshire Hathaway HomeServices PenFed Realty