Slaughter Beach Town Center
$699,999
360 Bay Avenue, Milford, DE 19963
48,000
NOI
8
Pro Forma Cap Rate
Details:
Highlights:
- Beach entrance across the street
- Large parking lot next door
- Community park with pickleball tennis children's playground next door
- Three bedroom house center with retail and oversized garage
- Beautiful Cottage in backyard
- Almost 3/4 acre with 12 parking space in front
- Backs up to Primehook Wildlife Preserve
- Oversized garage with 16 ft ceilings
- Full 2800 square foot attic
- Walk in refrigerator
- Former liquor store and mini market
Description:
Great opportunity! Unique beach property zoned COMMERCIAL/ RESIDENTIAL 2900SF Main Bldg, 950 SF Garage w 16 ft ceiling, 250 SF Cottage, next to large city parking lot. Former liquor store (40 yrs) and mini market (12 yrs) 4 miles from new hospital, Lots of updates, Possible Short-term Owner Financing. Investors: Sewer is coming to Slaughter Beach! Funding is complete! Planning and development is underway! Property has beautiful postcard-like setting across the street from the beach and next door to newly resurfaced Pickle Ball, Tennis and basketball courts, along with a new children's playground - and with the sewer underway, value is set to skyrocket.... For those unfamiliar, Slaughter beach is a beautiful respite known as "The Hidden Gem of Delaware", and often appears in national rankings for best beaches. This particular property is unique because it is a large parcel with parking, and the only commercial zoning in the city. Combine that with parking, park, pickleball, tennis right next door and beach across the street, and the large, picturesque backyard with 1800's cottage that overlooks Prime Hook Nature reserve, and you have a truly unique opportunity....PLUS SUBSTANTIAL UPSIDE with the sewer coming. Parcel is large enough To present opportunities for redevelopment in the future, especially with sewer on the way. Updated interior and exterior that includes new modern floors, stainless appliances in the kitchen, new lighting, new modern bathroom, new exterior, new back porch, new library, two new rooms added in previous store, lots of structural type improvements, lots of exterior upgrades including stone, driveway, fill, deck upgrades, 1800's cottage upgrades, many apple and pear trees, and encapsulation in the crawl space... Come with your ideas and put your finishing touches on.. Investors and individual buyers .."As is" Sale. 1 Yr. owner financing with 50% Down, All Closing Costs by Buyer, ..WON'T LAST LONG!
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