Homes for sale - 209 MONROE AVENUE, Lewes, DE 19958

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$5,900,000

Est. payment - /mo

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8,600 SqFt

Active

209 MONROE AVENUE Lewes, DE 19958

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Matt Kilmer

matt@movewithmatt.net +1(540) 931-6089

UPDATED:

09/20/2024 02:18 AM

Key Details

Property Type Commercial

Sub Type Land for Commercial Use

Listing Status Active

Purchase Type For Sale

Square Footage 8,600 sqft

Price per Sqft $686

MLS Listing ID DESU2070702

Originating Board BRIGHT

Year Built 1950

Annual Tax Amount $1,575

Tax Year 2023

Lot Size 2.890 Acres

Acres 2.89

Lot Dimensions 500x

Property Description

Attention Developers, Investors, Retailers, and Tourism-Based Businesses: A prime opportunity awaits with 3 acres of developable land for sale in Lewes, DE, located at a brand-new full movement intersection at the NE corner of Freeman Highway and Monroe Avenue. This strategic location is surrounded by thriving residential neighborhoods in a high-demand demographic area. Positioned less than 1/2 mile from downtown Lewes, the Cape May-Lewes Ferry, and Cape Henlopen State Park, the property offers excellent access to both local residents and tourists alike. The area is amenity-rich, with proximity to popular restaurants and retailers, making it ideal for retail, mixed-use/residential development or hospitality ventures. This is a rare chance to invest in one of Delaware’s fastest-growing and most desirable coastal markets.

This +/-2.90ac property is commercially zoned land (GC – General Commercial) within the City of Lewes town limits and is currently improved by a single story, +/-8,600sf tenanted building. 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.

Current owner has submitted proposed development plans (pending final approvals) which 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. *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.

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).

Location

State DE

County Sussex

Area Lewes Rehoboth Hundred (31009)

Zoning TN

Interior

Hot Water Other

Heating Other

Cooling Other

Heat Source Other

Exterior

Garage Spaces 20.0

Waterfront N

Water Access N

View Pond, Scenic Vista

Accessibility Other

Total Parking Spaces 20

Garage N

Building

Lot Description Open, Road Frontage

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Cape Henlopen

Others

Tax ID 335-08.12-80.00

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Standard

Listed by BRITTANY DANAHY • DSM COMMERCIAL

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Matt Kilmer

Agent | (VA)0225238026 (WV)WVS2003010

+1(540) 931-6089