Packages/820 Tuttle sale.docx

PREMIER LAND DEVELOPMENT OPPORTUNITY

Here’s a unique development opportunity you may be interested in; the southeast intersection of Delaware

Route 1 and Route 299 (Middletown Odessa Road) in Middletown, Delaware; the only quadrant not spoken for.

The land includes 8-10 acres of ground in 5-7 parcels, presently improved by an approximately 3,000 square

foot office/residence with 3 bedrooms, 3 baths, 2 offices, dining room, kitchen, exercise room, parlor and

sunroom. Barns approximate 7,500 sq. ft, are improved with concrete floors, electric, lighting, and contain 7

garages. It is part of the Evergreen Farms subdivision.

An 8” water tap will be furnished at no charge by Artesian Water, upon request, from a main already on the

property. I have been advised that although sewer is not presently on the property, it will be served by the

Town of Middletown if the property is annexed into the Town of Odessa. It is contiguous to Town parcels, and

they look at a possible annexation in a positive manner.

According to a premier land and zoning attorney and a Landmark Engineering report, the site can be used for a

church, assisted living, and possibly a daycare center (by Special Exception) with its current zoning. The

lawyer advises that in order to be successful to rezone to Commercial zoning, two houses adjacent to this land

would have to be acquired or be part of the process. Each of those is a residence on approximately one acre of

ground. (Our eight+ acres and the two additional acres would create the optimum development potential).

Timing of a purchase of this land is critical for two reasons:

First, one of the adjacent properties (458 Marcus Road) has just been listed for sale, priced at $249,900. For

purposed of future rezoning, it would be advantageous to acquire this property. The other property owners (412

Marcus Road) are willing to entertain an offer to sell at “the right price”. This price has not been determined.

Second, my wife and I have made the decision to downsize and we’ve recently erected signage on the property

and listed it on the Internet. Although the property will not be technically “listed” (I am a commercial real

estate broker in the State of Delaware), we will offer a brokerage commission of 3% for a successful settlement.

We are asking $200,000 per acre, or approximately $1,600,000. We will consider flexible terms and

conditions; assuming they are reasonable to us.

Recent area developments and planned developments include the new Christiana Care Emergency facility,

Spring Oaks development of Workforce Housing units to the south, and Odessa Commons, a mixed-use plan

which includes a hotel, commercial space and various sizes of homes to the north.

In my professional opinion, one potential use could be a professional medical center, near the Christiana Care

facility. (They acquired 100 acres and plan to expand as needed).

If you have an interest in this property, please call me to discover more information and discuss your interest.

Sincerely,

Samuel S. Tuttle, CCIM

Tuttle & Associates, LLC

(302) 378-8442

samtuttle@atlanticbb.net