36012 Airport Road

Description

Located in the heart of Rehoboth Beach, Hotel Wave presents a rare opportunity to acquire a well-positioned coastal hospitality asset on ±2.15 acres in one of Delaware’s most desirable beach markets. Situated along Airport Road, the property offers convenient access to Rehoboth Beach’s tourism drivers, including the Boardwalk, Tanger Outlets, tax-free shopping, dining, and entertainment destinations. Its proximity to major transportation corridors supports both leisure and regional demand from the greater Delmarva Peninsula and Mid-Atlantic region.The property is currently operating as a 49-room hotel and has been owner-operated for more than 12 years, demonstrating stable performance and long-term operational consistency. With limited opportunities to acquire hospitality assets in the Rehoboth Beach market, this offering presents investors with the ability to continue the existing business model or reposition the asset to capture additional value. Financial information is available upon execution of a Non-Disclosure Agreement (NDA).Recent capital improvements include approximately $1MM in renovations completed in 2022, featuring new flooring throughout, updated furniture packages, guestroom modernization, new decorative lighting, 50” televisions, new bathroom vanities, exterior repainting, renovated common areas, and a new suite conversion.