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REDEVELOPMENT OR HOSPITALITY EXPANSION OPPORTUNITY! The Driftwood Motel is situated on the busy Route 1 corridor in Lewes, DE. The motel features 9 rooms that are rented on a weekly basis and remain consistently full. Gross rental income for 2021 was in excess of $211,000. The owner is currently limiting rentals to only full weeks. Additional income is likely available to an operator offering shorter term stays. The property is two parcels for a combined 1.45 acres boasting the coveted C1 commercial zoning.The motel is on public utilities. There is a residence towards the rear of the property that has been wellmaintained. There is currently no income on the home as the operator spends weekends there. This property is a great value add opportunity for a hotel/motel operator or as a redevelopment play along one of the busiest corridors in the state of Delaware. Showings available by appointment only with qualified buyer.
| DAYS ON MARKET | 293 | LAST UPDATED | 11/11/2022 |
|---|---|---|---|
| YEAR BUILT | 1980 | COUNTY | SUSSEX |
| STATUS | Sold | PROPERTY TYPE(S) | Commercial |
| School District | CAPE HENLOPEN |
|---|
| PRICE HISTORY | |
| Prior to Aug 1, '22 | $2,200,000 |
|---|---|
| Aug 1, '22 - Today | $2,400,000 |
| ADDITIONAL DETAILS | |
| AIR | Central A/C |
|---|---|
| AIR CONDITIONING | Yes |
| CONSTRUCTION | Frame, Mixed |
| HEAT | Baseboard - Electric |
| HOA DUES | None |
| LOT | 1.45 acre(s) |
| SEWER | Public Sewer |
| TAXES | 1535.00 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by SVN/Miller Commercial Real Estate, sold by SVN |Miller Commercial Real Estate
Based on information from Sussex County Association of REALTORS®, Inc., which neither guarantees nor is in any way responsible for its accuracy. All data is provided 'AS IS' and with all faults. Data maintained by Sussex County Association of REALTORS®, Inc. may not reflect all real estate activity in the market.
Copyright 2024 Sussex County Association of REALTORS®, Inc.
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