|General Information: PUBLIC AUCTION
VALUABLE COMMERCIAL REAL ESTATE
IN LEWES, DELAWARE
Location: 16923 Kings Highway, Lewes, Delaware 19958. From the intersection of Del. Rt. 24 & Coastal Highway (Del. Rt. 1) in Rehoboth Beach, Delaware, travel north on Coastal Highway for approx. 1.1 mile and bear right onto Kings Highway. Property will be on right.
SATURDAY, OCTOBER 6, 2007
Preview: Tuesday, September 25 from 4:00 to 5:30 P.M.
Sunday, September 30 from 2:00 to 3:30 P.M.
The property is zoned C-1 (commercial) and consists of 0.33+/- Acre of land (14,403+/- sq. ft.) on Kings Highway in Lewes, Delaware and is identified on the Sussex County Tax Map in District 3-34 Map 6.00 Parcel 67.01 and is further described in Deed Book 2592 Page 319. The property has approx. 75 ft. of frontage along Kings Highway and is improved with a 4 BR/3 BA brick home and bakery with a paved parking lot. The first level of the home features a kitchen, diningroom, livingroom, full bathroom, and an enclosed porch with bamboo floor. The second level of the home features 2 bedrooms and a full bathroom. The home also features a basement with a bedroom, full bathroom, and a large storage area. The home features oil heat and pine floors throughout. The property is also improved with a bakery building. The bakery features a large kitchen area with two brick ovens, ½ bathroom, and a storage room. The property has public water & sewer as well as a paved parking lot (Sussex County Annual Property Tax- $389.32).
If you are looking for commercial real estate at the beach near Coastal Highway, do not miss this auction! The property is situated only 1,000+/- ft. from Coastal Highway (Del. Rt. 1) on Kings Highway between Lewes & Rehoboth Beach.
Real Estate Terms: $50,000.00 down payment in the form of Cash, Certified Check, or Cashier's Check made payable to Jos. C. O'Neal, Inc.. Balance to be paid within 60 days when a good and marketable deed will be given. Credit portion to bear interest at the rate of 0% per annum from the date of sale to date of settlement, and to be secured to the satisfaction of the undersigned, or to pay the full purchase price at the time of sale, at the option of the Purchaser. If not settled within 60 days, interest shall be charged at the rate of 10% per annum from the date of sale to the date of settlement. In the event settlement does not occur within 90 days of the sale, the property shall be considered forfeited and resold at the expense and risk of the Purchaser. Time is of the essence. State, County, and Municipal taxes and assessments to be adjusted as of the date of the sale. Purchaser & Seller will equally share all State & County transfer taxes. All title papers, documentary stamps, recording costs and any and all other costs which shall be deemed necessary to transfer the title of the property and put the deed on record shall be at the expense of the Purchaser. In the event a good & marketable title cannot be delivered the Seller(s) shall have 90 days to correct the flaw. If the flaw is not corrected the only recourse of the Purchaser shall be the return of the down payment and the Seller and the Auctioneer shall be held harmless. If the improvements on the property were built before 1976, they may contain lead paint. Purchaser may conduct a lead paint test at their expense prior to the sale. This property is being sold in "AS IS" condition. Neither the Sellers nor the Auctioneer shall accept any responsibility for any Municipal, State or Federal Environmental Violations. To our knowledge none exist at this time. A 4% Buyer’s Premium will be charged on the final selling price. Seller reserves the right to accept or reject any or all bids, but it is their intent to sell said property. Broker Participation invited. Brokers must have clients registered 24 hours prior to auction. Contact our office for complete details.