Fenwick Island, DE 19944 39032 Grays Lane # PARK

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Presented By: Coldwell Banker Realty
  • MLS# DESU2059926
  • 04/12/2024
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Home Details

This is a prime location in sought-after Fenwick Island! This is an extremely rare opportunity to purchase C-1 commercial land in Fenwick Island DE close to the beach and Atlantic Ocean. A salty breeze carries the scent of the Atlantic Ocean as you stand on these 4 commercially zoned C-1 parcels in Fenwick Island. Just a few blocks east the waves crash against the shore, a constant reminder of the area's beachside charm. The possibilities are endless. One potential would be a vibrant multifamily community development that caters to a variety of residents seeking a comfortable and convenient beach lifestyle. The development could offer a range of unit sizes, from cozy cottages to spacious multi-bedroom townhomes. The potential for shared amenities adds another layer to the multifamily living experience. Perhaps even a swimming pool or fitness center could be incorporated, creating a space for relaxation and healthy living. Other possibilities include a shopping center, multiple smaller retail businesses, and/or medical or other professional offices or leave as mobile home parks. This land is close to the Fenwick and Ocean City beaches, shops, restaurants, mini golf, water parks, and entertainment. The land is located off Rt 54 Lighthouse Rd and is currently used as a mobile home park (Gray's Lane Park) consisting of Tax ID 134-23.02-75.00-Park (18,295 sq ft) and Tax ID 134-23.02-76.00-Park (24,394 sq ft). Purchaser must buy both parcels at the same time. The historic Fenwick Island Lighthouse is directly next to the parcel and the historic lighthouse keeper's house is part of the sale. A possible Air B&B unique experience for that historic residence awaits! On the opposite side of the road is another mobile home park (Fryers Lane Park), consisting of Tax ID 134-23.02-56-Park (29,621 sq ft) and Tax ID 134-23.02-57.00-Park (30,492 sq ft). Purchaser must buy both parcels at the same time. Total acreage for the four parcels is 2.34 Acres (acreage on the North side of Rt. 54 is 1.36 Acres and the South Side of Rt. 54 is .98 Acres). Mobile homes belong to the tenants. The buyer must honor this season's existing rentals or settle on Nov. 1st after this coming rental season ends. PURCHASER MUST ALSO PURCHASE 39039 GRAYS LANE #PARK AT THE SAME TIME AND SETTLE ON BOTH PROPERTIES. TAX ID 134-23.02-76.00-PARK (Public Sewer and Artesian Water) Property is not in Fenwick Town Limits falls under Sussex County.
Presented By: Coldwell Banker Realty

Interior Features for 39032 Grays Lane # PARK

Other Interior Features

Street SuffixLANE

General for 39032 Grays Lane # PARK

Acceptable FinancingCash, Bank Portfolio
Additional Parcels Y/NYes
CityFENWICK ISLAND
Clean Green Assessed Y/NNo
CountySUSSEX
Current UseCommercial
DirectionsTake Coastal Hwy North to Rt 54/Lighthouse Rd. Turn left onto Grays Ln. Lot is the entire right side.
Federal Flood ZoneAE
HOANo
Historic Y/NYes
Lease Considered Y/NNo
Legal SubdivisionFenwick Island Tr Pk
Lot Size Square Feet18295.00
Lot Size UnitsSquare Feet
MLS AreaBaltimore Hundred (31001)
ModificationTimestamp2025-04-07T11:01:18
OwnershipFee Simple
PossessionSettlement
Possible UseCommercial
Price Per Sq Ft Total AG114.79
Property SubtypeLand
Property TypeLand
School DistrictINDIAN RIVER
SewerPublic Sewer
Standard StatusActive Under Contract
StatusACTIVE UNDER CONTRACT
Sussex DE QuadrantsBetween Rt 1 & 113
Tax Annual Amount725.0
Tax Assessed Value17550.0
Tax Year2023
Unit NumberPARK
Vacation Rental Y/NNo
Water Access Y/NNo
Waterfront Y/NNo
ZoningC-1

Exterior for 39032 Grays Lane # PARK

Land Use Code999
Lot Dimensions0.00 x 0.00
Lot Size Acres0.42
Lot Size SourceAssessor
LotDimensionsSourceAssessor
Navigable Water Y/NNo
Water Oriented Y/NNo
Water SourcePrivate
Water View Y/NNo

Additional Details

Price History

Rachel Shepherd

Price $2,100,000
MLS#DESU2059926
List Date 04/12/2024
Property Type Contingent
Phone 703.929.4729
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