Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Rehoboth Beach Buildable Lot Title is generated by Realmo AI

    37431 1ST Street, Rehoboth Beach, DE 19971

    View on Map
    Claim this Listing
    For Sale
    $499,900

    LAND - REHOBOTH BEACH, DE

    Lot size:
    0.12 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    72
    Last Refresh:
    May 22 at 11:06 pm

    Property Features for 37431 1ST Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Annual Amount
    575

    We can help!

    Listing Contact
    Sylvester Marchman Jr.

    Listing agent Sylvester Marchman Jr. License #RB-0020234

    Listing office Precision Real Estate Group LLC 406 Suburban Drive unit: 176, Newark, DE

    Listing date Mar 12, 2026

    MLS# DESU2107130 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Buildable 50 x 105 lot in Rehobeth Beach.
    • Includes a free‑standing, fully self‑sufficient 1 bedroom, 1 bath efficiency unit.
    • Prime location in the heart of Rehobeth, close to amenities.
    • Short trip to the beach.
    • Efficiency unit suitable for rental or owner occupancy.
    • Lot is ready for debris removal.

    Overview

    This property features a 50 x 105 lot with a freestanding one-bedroom, one-bath efficiency unit, situated in Rehoboth Beach. The lot previously housed a mobile home that was destroyed by fire; remnants and debris are slated for removal. The efficiency unit is fully self-sufficient and suitable for rental or owner occupancy. Located in the heart of Rehoboth, the property is close to amenities and a short distance from the beach. The lot is buildable, but prospective purchasers should verify that their intended use complies with City of Rehoboth regulations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rehoboth Beach
    County
    Sussex
    State
    Delaware
    Longitude
    -75.0971649
    Latitude
    38.7006546

    Nearby Similar for Sale

    • $349,000

      Restaurant Opportunity on Rehoboth Avenue

      Turn-key restaurant with parking in downtown Rehoboth Beach.
      251 REHOBOTH Avenue, REHOBOTH BEACH, DE 19971
      View Details
    • $3,600,000

      Rare Ocean View Vacant Lot

      Exceptional location, steps from private beach, potential bay views.
      9 HALL Avenue, REHOBOTH BEACH, DE 19971
      View Details
    • $8,000,000

      Rehoboth Beach Hospitality Investment

      Thriving hotel with expansion potential in Rehoboth Beach.
      19604 BLUE BIRD Ln, Rehoboth Beach, DE 19971
      View Details
    • $5,500,000

      Prime Rehoboth Avenue Commercial Property

      High-visibility commercial property with redevelopment potential near beach.
      251 REHOBOTH AVENUE, REHOBOTH BEACH, DE 19971
      View Details
    • $2,975,000
      650 SF

      Boutique Hotel in Downtown Rehoboth

      Award-winning 13-room boutique hotel near Rehoboth Beach.
      34 6TH STREET, REHOBOTH BEACH, DE 19971
      View Details
    • $4,500,000
      6,600 SF

      Renovated Multifamily Property with Licenses

      Two renovated buildings with apartment licenses on oversized lots.
      35 BALTIMORE Ave, Rehoboth Beach, DE 19971
      View Details
    • $349,000

      Rehoboth Avenue Restaurant/Bar Opportunity

      Turn-key restaurant/bar business opportunity in downtown Rehoboth Beach.
      19 REHOBOTH AVENUE, REHOBOTH BEACH, DE 19971
      View Details
    • $4,200,000

      Rehoboth Beach High Seas Motel

      Commercial property with 32 guest rooms, two blocks from beach.
      12 CHRISTIAN STREET, REHOBOTH BEACH, DE 19971
      View Details
    • $3,500,000
      6,000 SF

      Coastal Highway Freestanding Building

      Prime commercial property near Delaware Beaches with retail, warehouse, apartments.
      19871 COASTAL HIGHWAY, REHOBOTH BEACH, DE 19971
      View Details
    • $1,395,000
      1,100 SF

      Income-Producing Mixed-Use Property

      Commercially zoned property near Dewey and Rehoboth Beach.
      20905 COASTAL Hwy, Rehoboth Beach, DE 19971
      View Details
    • $1,395,000
      3,150 SF

      Coastal Highway Commercial Building For Sale

      Commercial building for sale on Coastal Highway in Rehoboth Beach.
      20905 Coastal Hwy, Rehoboth Beach, DE 19971
      View Details
    • $369,000
      940 SF

      Rehoboth Beach First-Floor Condo

      Two-bedroom condo with updated features and convenient location.
      100 CASCADE LANE 101, REHOBOTH BEACH, DE 19971
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Buildable lot with efficiency unit near Rehoboth Beach amenities.
    Where is this residential land & home lot located?
    The property is located at 37431 1ST Street Rehoboth Beach, DE.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: Buildable 50 x 105 lot in Rehobeth Beach.; Includes a free‑standing, fully self‑sufficient 1 bedroom, 1 bath efficiency unit.; Prime location in the heart of Rehobeth, close to amenities.
    (302) 740-0179
    We can help!
    Listing Contact
    Sylvester Marchman Jr.
    Real Estate License ID: RB-0020234
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    37431 1ST Street, REHOBOTH BEACH, DE 19971
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!