$1,800,000
●
Land -
For Sale
32244 NASSAU ROAD
LEWES, DE 19958
Studio
0 Bath
$8,839
Est. Monthly
About This Property
Exceptional commercial development opportunity in Lewes, Delaware,
offering outstanding visibility and exposure along Coastal Highway
(Route 1) at the Nassau Bridge, with an AADT of approximately
32,378 vehicles. Adjacent to the Moove In Self Storage center, this
±1.47-acre parcel is zoned C-1 General Commercial in Sussex County,
providing flexibility for a wide range of commercial uses as well
as potential residential multifamily development. Ideally
positioned along one of the Delaware coast's primary commercial
corridors, the property is located within the Tier 1 Sussex County
Unified Sanitary Sewer District, with central sewer and water
available. A prime site for commercial, mixed-use, or multifamily
development in the rapidly growing Lewes market. Please note that
the existing billboard is not included in the sale.
Unit Size
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Days on Market
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Land Size
1.47 acres
Price per sqft
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Property Type
Land
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Listed By
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100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 21 days ago (Bright MLS #DESU2120756)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 30, 2026 | Listed by Jack Lingo - Rehoboth | $1,800,000 | |
| Listed by Jack Lingo - Rehoboth | |||
| Sep 15, 2023 | Sold | ||
| Sold | |||
Property Highlights
Exterior Details
Lot Features: Cleared
Lot Size Area: 64033.2
Lot Size Units: Square Feet
Lot Size Acres: 1.47
Lot Size Square Feet: 64033.2
Lot Size Dimensions: 222 x 225 x 252 x 338
Water Source: Public Hook-up Available
Utilities Details
Sewer : Public Hook/Up Avail
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About Sussex
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Listed by: SHAUN TULL
Jack Lingo - Rehoboth
Last Updated: 11 hours ago
Data Source: Bright MLS , MLS# DESU2120756
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Jack Lingo - Rehoboth
Last Updated: 11 hours ago
Data Source: Bright MLS , MLS# DESU2120756
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