How to get BOARDWALK PROPERTY?? (Rehoboth Beach: lease, broker, how much)

[Revellanotvanella]

Me and my boyfriend are stumped just how to get a small beachfront property so we can sell hot snack food items along the beach boardwalk, anything location along the beach were up for. We really think it would be something fun to try as my boyfriend does have the business (foods) background and I have worked with him. We do not want something big but just small to rent for the summer season and give a try. Max 1,000/mo
is what we would like, does Anybody know how this is done???


We searched craigslist, local papers online (we just left the beach with no local papers because idea came too late)

Any ideas are welcomed. Note: We prefer not going through broker to save all extra fees which can get a little ridiculous

[rdlr]

Originally Posted by Revellanotvanella

Any ideas are welcomed. Note: We prefer not going through broker to save all extra fees which can get a little ridiculous

In my opinion, you're spinning your wheels, not asking for a broker's help. If you at least make a call to one broker, you will have a general idea how much market rent, even just a small commercial site, commands on the boardwalk at Rehoboth Beach.

Just ask what is current market rent, per square foot, for commercial space on the boardwalk? With that information, you'll be armed with information to set up your business plan. It also may, or may not, discourage you from starting a little seasonal business. Best of Luck!

[rossc]

I think you'll have to budget quite a bit more money for boardwalk retail space. The drawback is that you have a 4 month season and a minimum of a one year lease. You have to make all your money in those four months so you can pay the rent while the store is boarded up in the off season. You can't just rent a space for the summer, unfortunately. I would expect to pay at least three times what you have budgeted. A small retail space in a strip mall no where near the beach will cost quite a bit more than $1000/month.

[Summering]

Great information..........I wonder what the rent is in the little shops down the cobblestone walkways?
Are they also barren in the winter months? I am thinking that most of those close up too........Am I right about that?

[rdlr]

Originally Posted by Summering

Great information..........I wonder what the rent is in the little shops down the cobblestone walkways?
Are they also barren in the winter months? I am thinking that most of those close up too........Am I right about that?

Hi there, Summering!
Those little shops vary in market rent, as compared to ON the boardwalk, as you might guess. All expensive, though. Maybe we could pool our money and start a business together You run the store, and I'll count the money! (kidding, of course). Actually, I've always wanted to do that, but realistically......NO.

Yes, when I go down in the late Fall and Winter, they are closed. It's a ghost town, so to speak. We had a family member who had a shop a few years ago, along Rehoboth Avenue. You really have to sell a lot of your product(s) just to break even on that rent, and you only have the summer months to make it.

[Summering]

Hey there..........
Yes, I imagined that. A store is a wonderful idea, but so many just don't make it......
You might have no $$ to count!
My sister owned an ocean location store. Gosh to pay two rents, two heat bills, etc.....and get the stock.......You are very lucky if you break even.
She had fabulous things too........
It is also hard to compete with WalMart. Plus, after 9/11 there was less invites going out.........less parties........and her business suffered. ( and we all suffered from the horror of that day.......)

[rossc]

I know of a couple of boardwalk business owners who are paying more than $40,000/year. Most of them have other locations so losses can be absorbed by the other locations. If you count just the months you are doing business, that's about $10,000/month. That's what you'll need to gross per month during the tourist season to break even on rent for the year. That doesn't figure utilities and profit. Those are some scary numbers in this economy. Beach traffic is way down this year. Last year you could hardly get to the beach by car. I was shocked at how little traffic there was on Memorial Day weekend.

[Summering]

Originally Posted by rossc

I know of a couple of boardwalk business owners who are paying more than $40,000/year. Most of them have other locations so losses can be absorbed by the other locations. If you count just the months you are doing business, that's about $10,000/month. That's what you'll need to gross per month during the tourist season to break even on rent for the year. That doesn't figure utilities and profit. Those are some scary numbers in this economy. Beach traffic is way down this year. Last year you could hardly get to the beach by car. I was shocked at how little traffic there was on Memorial Day weekend.

I agree there was no traffic at all during the 100 degree weather......that entire week.....
We thought we were driving on a Sunday because of the traffic .......
We were saying, " did we leave on the right day?"

[mikandmari]

I agree... we were at the beach this past Friday, June 27. Driving thru we saw most of the motels had their "Vacancy" signs lit. That was unusual for a Friday!

I'd be really careful about investing in any beach-area businesses for awhile.

[TNRyan23]

pass go and collect $200...