Dewey Beach! Location, location, location! Located in the highly sought after community of Rehoboth By The Sea, this home is located only 11 homes from the Atlantic Ocean. This is a Rehoboth By The Sea leased land property. The very rare re negotiated lease has 26 years remaining and is only $5,219 PER YEAR. Minute lease increases are every five years and are based off of the CPI index thus making the increase very, very affordable.. The present home boasts the pine board walls (very good condition) and hardwood and tile throughout. Recently negotiated leases are typically 3X the annual rent and include a 3.5% annual increase. Renovate this charming little home like many owners have done to their adorable cottages from yesteryear or make plans to built the home of your dreams. Due to the location and the affordable lease from yesteryear this property won't last long. Please call for a private tour, you'll be glad that you did!!