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$ 2,100,000
Est. payment | /mo
0.7 Acres Lot
$ 2,100,000
Est. payment | /mo
0.7 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID DESU2059932
HOA Y/N N
Originating Board BRIGHT
Annual Tax Amount $801
Tax Year 2022
Lot Size 0.700 Acres
Acres 0.7
Lot Dimensions 0.00 x 0.00
Property Description
This is a prime location in sought-after Fenwick Island! This is an extremely rare opportunity to purchase C-1 commercial land in Fenwick Island DE close to the beach and Atlantic Ocean. A salty breeze carries the scent of the Atlantic Ocean as you stand on these 4 commercially zoned C-1 parcels in Fenwick Island. Just a few blocks east the waves crash against the shore, a constant reminder of the area's beachside charm. The possibilities are endless. One potential would be a vibrant multifamily community development that caters to a variety of residents seeking a comfortable and convenient beach lifestyle. The development could offer a range of unit sizes, from cozy cottages to spacious multi-bedroom townhomes. The potential for shared amenities adds another layer to the multifamily living experience. Perhaps even a swimming pool or fitness center could be incorporated, creating a space for relaxation and healthy living. Other possibilities include a shopping center, multiple smaller retail businesses, and/or medical or other professional offices or leave as mobile home parks. This land is close to the Fenwick and Ocean City beaches, shops, restaurants, mini golf, water parks, and entertainment. The land is located off Rt 54 Lighthouse Rd and is currently used as a mobile home park (Gray's Lane Park) consisting of Tax ID 134-23.02-75.00-Park (18,295 sq ft) and Tax ID 134-23.02-76.00-Park (24,394 sq ft). Purchaser must buy both parcels at the same time. The historic Fenwick Island Lighthouse is directly next to the parcel and the historic lighthouse keeper's house is part of the sale. A possible Air B&B unique experience for that residence awaits! On the opposite side of the road is another mobile home park (Fryers Lane Park), consisting of Tax ID 134-23.02-56-Park (29,621 sq ft) and Tax ID 134-23.02-57.00-Park (30,492 sq ft). Purchaser must buy both parcels at the same time. Total acreage for the four parcels is 2.34 Acres (acreage on the North side of Rt. 54 is 1.36 Acres and the South Side of Rt. 54 is .98 Acres). Mobile homes belong to the tenants. The buyer must honor this season's existing rentals or settle on Nov. 1st after this coming rental season ends. PURCHASER MUST ALSO PURCHASE 39972 FRYERS LANE #PARK AND SETTLE BOTH PROPERTIES AT THE SAME TIME. TAX ID 134-23.20-56.00-PARK. Property is not in Fenwick Town Limits falls under Sussex County.
Location
State DE
County Sussex
Area Baltimore Hundred (31001)
Zoning C-1
Exterior
Water Access N
Garage N
Building
Sewer Public Septic
Water Private
Schools
School District Indian River
Others
Tax ID 134-23.02-57.00-PARK
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Bank Portfolio
Listing Terms Cash, Bank Portfolio
Financing Cash,Bank Portfolio
Special Listing Condition Standard
Listed by Nancy Reither • Coldwell Banker Realty
