209 Monroe AveLewes, DE 19958

Property Details for 209 Monroe Ave

Lot size

2.89 AC

Zone code

TN

Property type

Commercial real estate

APN

335-8.12-80.00

APU

3358128000

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $37,779,632

  Hospitality

  $34,605,940

  Educational

  $28,791,736

  Medical

  $29,781,928

  Retail

  $44,787,144

Location Insight

City

Lewes

County

Sussex

State

Delaware

Latitude

38.7681

Longitude

-75.1378

CBSA code

41540

CBSA name

SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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