402 Rehoboth Ave, Rehoboth Beach DE 19971

402 Rehoboth Ave

Description

Location, Location! Property located on the corner of Rehoboth Avenue & State Road. Excellent exposure for offices. 14 shared parking spaces. Buy and you can use 1,262 sq. ft. of office space for yourself or lease out. Zoned C-1. Rigby's Restaurant has renewed lease to 2023(w/annual increases). 2018 they pay $64,927 NNN. For future potential City will allow a building area of 20,844 sq. ft.(2.0FAR). Maximum building height can be 42 feet. If a buyer wishes to build up, with City approval, it is possible that 2 condo apartments can be built on the second level. Roof replaced 2014;painted 2013;2 new HVAC units 2012.

Contract Information

List Price - $2,450,000

Location, Legal, Taxes & Expenses

MLS No. - 514217
MLS Area - 99 Other Areas - All
County - DE - Sussex
Subdivision - N/A
Building Name - N/A
Annual City Tax - $806
Zoning Code - C-1
Zoning Description - TN
Annual Cnty Tax - $2,368

General Property Description

Living Area - 4,593
Lot SqFt - 10,422
Lot Acres - 0.24
Dwelling Floors - 1
Attic - None
Foreclosure/REO - No
Short Sale - No

Property Features

Exterior Type - Wood
Roofing - Asphalt Shingle
Foundation - Concrete Slab
Basement - None
Dock Type - None
Water/Sewer - Public Central Sewer,Public Central Water
Primary Heat Type - Heat Pump
Disclosure/Restrictions - Existing Lease/Rntls
Lot Description - Cleared,Corner

Agent

REHOBOTH BEACH, DE 19971
Contact: (410) 430-5748
Office: (302) 227-9477

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