209 Monroe AveLewes, DE 19958

This exceptional 2.89-acre commercial property in Lewes, Delaware, presents a unique investment opportunity. Situated at the highly visible northeast corner of Freeman Highway and Monroe Avenue, this strategically located site benefits from a brand-new, full-movement traffic light and highway improvements. The property is zoned General Commercial (GC) within the City of Lewes town limits and includes an existing 8,600 square foot building currently tenanted. The location offers unparalleled access to both local residents and tourists, being less than half a mile from downtown Lewes, the Cape May-Lewes Ferry, and Cape Henlopen State Park. Surrounded by thriving residential neighborhoods, this high-demand area boasts an abundance of amenities, including nearby restaurants and retailers. The property has no side or rear setbacks and allows for a maximum building height of 40 feet (three stories). Preliminary site plans, including a proposed 15,000 square foot addition (6,000 square feet for a two-story restaurant with deck and patio areas, and 9,000 square feet of retail space), along with renovations to the existing building, have received preliminary approval from the City of Lewes on April 10, 2023. Necessary approvals from DelDOT/DRBA and the City of Lewes are in place. Pending final approvals from the Delaware Fire Marshal and Sussex Conservation District are expected within 60-90 days, leading to final site plan approval by November-December 2024. This is an ideal site for retail, mixed-use/residential development, or hospitality ventures in one of Delaware's fastest-growing coastal markets. Note that separate conditional use approval from the City of Lewes is required for restaurant seating on the second floor of the proposed restaurant building.