33588 Old Salt Ln Lewes, DE 19958
- Specialty properties
- 3.00 lot acres
Current Use by Public Records
- Specialty properties
Property Details for 33588 Old Salt Ln
- Lot size
- 3.00 lot acres
- Property type
- Specialty properties
- Property subtype
- Marinas
Description
Exceptional investment opportunity: A fully approved 4,924+ sq ft restaurant pad and thriving marina are available for sale in Lewes, Delaware, for $4,000,000. The restaurant boasts approved plans for indoor and outdoor seating, including a second-level outdoor bar area, with a capacity of 237. A seasoned local operator is available to manage the business for the new owner. This property sits on 3 acres of land and is ideally situated in one of Delaware's fastest-growing areas, within 15 minutes of most Delaware beaches and attractions. The marina features 60 slips accommodating boats up to 35 feet, each with water access, and two gas pumps. A 6-foot boardwalk connects the slips directly to the restaurant pad. Love Creek was dredged in 2021. The marina benefits from its proximity to Delaware's scenic inland bays, numerous golf courses, and diverse dining options. The Indian River Inlet and the Atlantic Ocean are less than 10 miles away by boat. Pro forma estimates indicate a 10%+ cap rate. This combined restaurant and marina property presents a unique and lucrative investment opportunity in a highly desirable coastal location.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lewes
- County
- Sussex
- State
- Delaware
- Longitude
- -75.1624
- Latitude
- 38.703