This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
209 Monroe Ave - Kings Highway / Freeman Highway Commercial
2.9 Acres of Commercial Land Offered at $5,900,000 in Lewes, DE 19958
Investment Highlights
- Prime Location/Visibility/Accessability to Historic Downtown Lewes
- Excellent Hospitality/Residential Redevelopment
- Preliminary Approvals for Retail/Restaurant Redevelopment
Executive Summary
Property Facts
| Price | $5,900,000 | Property Subtype | Commercial |
| Sale Type | Investment or Owner User | Proposed Use | Commercial |
| No. Lots | 1 | Total Lot Size | 2.90 AC |
| Property Type | Land |
| Price | $5,900,000 |
| Sale Type | Investment or Owner User |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Commercial |
| Total Lot Size | 2.90 AC |
1 Lot Available
Lot
| Price | $5,900,000 | Lot Size | 2.90 AC |
| Price Per AC | $2,034,483 |
| Price | $5,900,000 |
| Price Per AC | $2,034,483 |
| Lot Size | 2.90 AC |
+/-2.90ac of commercially zoned land (GC- General Commercial) within the City of Lewes town limits. Property has +/-500' of frontage on Freeman Highway (Kings Highway) with lake views.
Description
Sale of +/-2.90ac of commercially zoned land (GC – General Commercial) within the City of Lewes town limits. The property is currently improved by a single story, +/-8,600sf tenanted building. Proposed development plans (pending final approvals) include the addition of a new 15,000sf building, comprised of: 6,000sf for two-story restaurant* including deck and patio areas; and 9,000sf of retail space, and renovations to the existing 8,600sf building. Preliminary Site Plans with conditions were preliminarily approved by the City on 4/10/2023. DelDOT/DRBA and City of Lewes entrance approvals are in place and a new full-motion traffic light and highway improvements to the Monroe Avenue at the Freeman Highway (Ferry Road) intersection are complete. Agency approvals including the Delaware Fire Marshal and Sussex Conservation District are pending final approval and Final Site Plan approval is expected to be obtained within 60-90 days (November-December, 2024). Per the City of Lewes Zoning Code, the property has no side/rear setbacks, is not part of a water recharge area, with a 40’ (3-stories) maximum height- restriction. *separate conditional use approval by the City of Lewes is required for use of the 2nd floor of restaurant portion of the building for restaurant seating.
PROPERTY TAXES
| Parcel Number | 335-08.12-80.00 | Improvements Assessment | $20,400 |
| Land Assessment | $11,550 | Total Assessment | $31,950 |
PROPERTY TAXES
zoning
| Zoning Code | GC (General Commercial (City of Lewes)) |
| GC (General Commercial (City of Lewes)) |
Presented by
209 Monroe Ave - Kings Highway / Freeman Highway Commercial
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.