18282 Coastal Hwy, Lewes, De 19958 $2,400,000
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 Well Maintained. 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.
Contact Ryan Haley
Broker, Realtor