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Listed by Andrew Ball • SVN/Miller Commercial Real Estate
$ 2,200,000
Est. payment | /mo
7.18 Acres Lot
$ 2,200,000
Est. payment | /mo
7.18 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID DESU2104366
HOA Y/N N
Lot Size 7.180 Acres
Acres 7.18
Property Sub-Type Land
Source BRIGHT
Property Description
Positioned in a highly desirable growth corridor, this 7.18±-acre, CR-1 zoned property presents a rare opportunity to acquire income-producing land with immediate and long-term development potential. The flexible CR-1 zoning supports a broad mix of commercial and residential uses, making this site ideal for developers, investors, or owner-users seeking scale and versatility.
The property is currently occupied by 8 month-to-month tenants, generating $10,850 in monthly income ($130,200 annually). This allows a buyer to maintain cash flow while entitlements, design, or phased redevelopment are pursued—a true value-add scenario. Water/sewer is located at the front of the property in the street.
BONUS VALUE – EXPAND YOUR FOOTPRINT
An adjoining ±1+ acre CR-1 parcel is also available, improved with a (to be) fully renovated home and office, to be connected to public water and sewer. Offered for an additional $875,000 (pricing will adjust if purchased as-is). Acquiring both parcels creates enhanced frontage, increased density potential, and greater development flexibility.
The property is currently occupied by 8 month-to-month tenants, generating $10,850 in monthly income ($130,200 annually). This allows a buyer to maintain cash flow while entitlements, design, or phased redevelopment are pursued—a true value-add scenario. Water/sewer is located at the front of the property in the street.
BONUS VALUE – EXPAND YOUR FOOTPRINT
An adjoining ±1+ acre CR-1 parcel is also available, improved with a (to be) fully renovated home and office, to be connected to public water and sewer. Offered for an additional $875,000 (pricing will adjust if purchased as-is). Acquiring both parcels creates enhanced frontage, increased density potential, and greater development flexibility.
Location
State DE
County Sussex
Area Indian River Hundred (31008)
Zoning CR-1
Exterior
Water Access N
Garage N
Building
Sewer Public Sewer
Water Public
Schools
School District Indian River
Others
Tax ID 235-30.00-27.00
Ownership Fee Simple
Special Listing Condition Standard
Nearby Locations
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