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Priced to sell! Welcome to an extraordinary investment opportunity in the heart of commercial potential. Currently, the property brings in $9,350/month or $112,200/year with the potential to increase revenue. Zoned C1, this property stands as a beacon for savvy investors looking to capitalize on its strategic location adjacent to city-owned land. Nestled in a high-traffic area, this property enjoys outstanding visibility, with additional public parking conveniently available just across the road. Take note of the accessible public water and sewer lines running alongside the property, providing the buyer with the option to annex and secure these utilities. The potential for annexation opens doors to expanded possibilities for a myriad of development options. This property consists of a 4000+/- sqft commercial building with 4 independent units, each with its own electric meter. The units include a tire shop that is leased for $1,500/month, an empty unit that could serve as a new business venture, a barber shop leased at $1,500/month, and a Hispanic store leased at $1,800/month. Additionally, there are 11 spaces for mobile homes, with 7 currently occupied. Three mobile homes won't be included in the sale but they do generate $450/month each in lot rent. Four mobile homes are part of the sale, with rents of $1,000, $1,000, $600, and $600 per month. Seize the opportunity to invest in a versatile commercial property that promises both immediate and long-term income potential! Contact me for more details and to schedule a viewing!
| DAYS ON MARKET | 167 | LAST UPDATED | 4/29/2024 |
|---|---|---|---|
| TRACT | ISLAND DEVELOPMENT | YEAR BUILT | 1950 |
| COMMUNITY | Seaford Hundred (31013) | COUNTY | SUSSEX |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| PRICE HISTORY | |
| Prior to Feb 27, '24 | $800,000 |
|---|---|
| Feb 27, '24 - Apr 8, '24 | $750,000 |
| Apr 8, '24 - Apr 29, '24 | $700,000 |
| Apr 29, '24 - Today | $650,000 |
| ADDITIONAL DETAILS | |
| AIR | Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| AREA | Seaford Hundred (31013) |
| BUYER'S BROKERAGE COMPENSATION | 2.5 |
| LOT | 1.3 acre(s) |
| LOT DIMENSIONS | 0.00 x 0.00 |
| SEWER | Septic Tank |
| SUBDIVISION | ISLAND DEVELOPMENT |
| WATER | Public, Private |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by Century 21 Home Team Realty
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.
This IDX solution is (c) Diverse Solutions 2024.
