1 Virginia Ave #space B, Rehoboth Beach, DE 19971
$849,000

MLS#
Desu183952
Price
$849,000
Standard Status
Active
Waterfront
Y
Unit Number:Space B

Prime commercial/retail space located directly on the Rehoboth Beach boardwalk! This is a rare opportunity to own 4000 +/- sqft of commercial space on the amazing Rehoboth Beach boardwalk just steps away from the sandy beaches and Atlantic Ocean. This property is located on the ground floor of the One Virginia Avenue building. Property has the potential to be subdivided into multiple retail or office spaces. If desired, current tenant (Rehoboth Toy & Kite) will lease back the space for 5 years at a rental rate of $60,000/year. Current tenant has operated successfully at this location for over 25 years. Net income equates to a 5% annual ROI. Earn 5% return annually, benefit from depreciation deduction, and obtain superior appreciation from this oceanfront investment property. Call to schedule a showing.

Exterior Features


Construction Materials
Stucco, concrete
Water Body Type
Ocean

Interior Features


Heating
Zoned, heat Pump(s)
Heating Fuel
Electric
Cooling
Central A/c, ceiling Fan(s), heat Pump(s)
Hot Water
Electric
Flooring
Carpet, concrete, tile/brick

Additional Details


Year Built
1974
New Construction
N
Property Type
Commercial Sale
County
Sussex
Lot Size Dimensions
0.00 X 0.00
Sussex DE Quadrants
East Of Rt 1