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    Ocean View Coastal Property Title is generated by Realmo AI

    37186 CLUB HOUSE Road, Ocean View, DE 19970

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    Claim this Listing
    New
    For Sale
    $3,500,000

    LAND - OCEAN VIEW, DE

    Lot size:
    11.80 Acres
    Added:
    May 28, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 2 at 6:06 pm

    Property Features for 37186 CLUB HOUSE Road

    General Information

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

    Taxes and HOA fees

    Tax Annual Amount
    940

    We can help!

    Listing Contact
    Christopher J Carr
    Christopher J Carr

    Listing agent Christopher J Carr License #RB-0020005

    Listing office HomeZu by Simple Choice 2031 Wisteria Lane, Lafayette Hill, DE

    Listing date May 28, 2026

    MLS# DESU2112896 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

    • Large 11.80 +/- acre coastal property suitable for residential development.
    • Potential for subdivision into approximately 40‑50 lots (subject to county approval).
    • Located close to Bethany Beach, offering access to beaches and dining.
    • Zoned Medium Residential (MR) with extensive development potential for permitted or conditional uses.
    • Comprised of four separate contiguous parcels.
    • Proximity to local amenities including marinas and golf courses.

    Overview

    This 11.80 +/- acre coastal property in Ocean View presents a rare opportunity. Located close to the beaches and dining of Bethany Beach, the property is also near marinas on White Creek, golf courses, and entertainment options in Ocean View. The property consists of four contiguous parcels identified by tax IDs 134-8.00-67.00, 134-8.00-67.01, 134-8.00-67.02, and 134-8.00-68.00. Surrounded by single-family homes, the property is suited for residential development. Subject to county approval, a subdivision could potentially yield approximately 40-50 lots for detached single-family homes or multifamily dwelling structures. Its proximity to Bethany Beach also positions it as a location for developing private estates. Currently zoned Medium Residential (MR), the property has development potential for permitted or conditional uses, as defined by Sussex County Code S 115-29 and 115-29. Note that there are three dwellings on the property. However, this is a land-only sale with the dwelling being sold "as-is" and adding no value to the property's best and highest use. Any future use of the property requires approval from Sussex County, and the buyer is responsible for due diligence and obtaining necessary approvals.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Nail Salon Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Ocean View
    County
    Sussex
    State
    Delaware
    Longitude
    -75.09982
    Latitude
    38.56141

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    FAQs

    What type of property is this?
    Residential land & home lot - 11.80-acre property near Bethany Beach with residential development potential.
    Where is this residential land & home lot located?
    The property is located at 37186 CLUB HOUSE Road Ocean View, DE.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Large 11.80 +/- acre coastal property suitable for residential development.; Potential for subdivision into approximately 40‑50 lots (subject to county approval).; Located close to Bethany Beach, offering access to beaches and dining.
    (855) 885-4663
    We can help!
    Listing Contact
    Christopher J Carr
    Christopher J Carr
    Real Estate License ID: RB-0020005
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    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.

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