103 W Pine St, Georgetown, DE 19947

$399,000

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List Price: $399,000
Days on Market: 1
Status: ACTIVE
MLS#: DESU2121280
Lot Size (Acres): 0.37
Year Built: 1792
County: Sussex
School District: Indian River

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Property Description

Great investment opportunity in the heart of Sussex County. 2 story farmhouse in excellent condition, currently used as a professional office space with 5 offices, one full bathroom, one half bathroom, a conference room and full kitchen with new lease producing $39k per year in income. Zoned UR 1 in the town limits of Georgetown with conditional use approval. Currently leased for two more years (1/1) to long term tenant. Tenant pays all utilities. Landlord pays Insurance and Taxes. 10% Cap rate. ADA accessible. Baseboard radiator with furnace and mini splits for heat. Central AC with two outdoor units just purchased in 2021. Older building with many updates to include floors, roof, HVAC and windows. Currently parking for 6 vehicles with storage garage and plenty of room to grow. Terrific location one block off the circle in Georgetown.

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Additional Information

Area: Georgetown Hundred (31006)
Subdivision: None Available
Taxes: $1000
School District: Indian River
Flooring: Hardwood
Heating: Baseboard - Hot Water, Floor Furnace, Hot Water
Heating Fuel: Oil
Cooling: Central A/C
Roof: Architectural Shingle
Water: Public
Sewer: Public Sewer