18282 Coastal Hwy,

Lewes, De 19958 $2,400,000

REDEVELOPMENT OR HOSPITALITY EXPANSION OPPORTUNITY! The Driftwood Motel is situated on the busy Route 1 corridor in Lewes, DE. The motel features 9 rooms that are rented on a weekly basis and remain consistently full. Gross rental income for 2021 was in excess of $211,000. The owner is currently limiting rentals to only full weeks. Additional income is likely available to an operator offering shorter term stays. The property is two parcels for a combined 1.45 acres boasting the coveted C1 commercial zoning. The motel is on public utilities. There is a residence towards the rear of the property that has been well maintained. There is currently no income on the home as the operator spends weekends there. This property is a great value add opportunity for a hotel/motel operator or as a redevelopment play along one of the busiest corridors in the state of Delaware. Showings available by appointment only with qualified buyer.