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Listed by Whitney Jarvis • Coldwell Banker Realty
$ 5,500,000
Est. payment /mo
Price Dropped by $490K
251 REHOBOTH AVE Rehoboth Beach, DE 19971
0.44 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID DESU2075478
Year Built 1955
Annual Tax Amount $5,866
Tax Year 2024
Lot Size 0.440 Acres
Acres 0.44
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
Prime commercial property available in one of the East Coast's most sought-after beach destinations. Positioned at the high-visibility intersection of Rehoboth Avenue and Lake Avenue, this offering consists of two adjoining parcels, both zoned C-1, allowing for a wide variety of commercial and residential development options. With approximately 250 ft of frontage on Rehoboth Avenue and 260 ft on Lake Avenue, the site provides exceptional exposure and accessibility just a short distance from the beach, boardwalk, restaurants, and year-round attractions. Currently, the property includes two restaurant sites—one operational and leased—along with on-site parking and a leased retail kiosk, providing immediate rental income and flexibility for future use. All building sizes, lot dimensions, and construction years are estimates. This unique opportunity offers outstanding redevelopment potential with zoning that supports numerous permitted uses and unbeatable proximity to downtown amenities. Whether reimagined as a mixed-use project, retail center, hospitality site, or continued food-and-beverage venue, this property delivers exceptional investment value in a premier coastal market. Don't miss this chance to secure a landmark location in downtown Rehoboth Beach.
Location
State DE
County Sussex
Area Lewes Rehoboth Hundred (31009)
Zoning TN
Interior
Hot Water Tankless, Propane
Heating Forced Air
Cooling Central A/C
Heat Source Propane - Leased
Exterior
Garage Spaces 19.0
Water Access N
Roof Type Built-Up,Flat
Accessibility 2+ Access Exits
Total Parking Spaces 19
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Cape Henlopen
Others
Tax ID 334-14.17-83.00
Ownership Fee Simple
Special Listing Condition Standard
