Indian River Life-Saving Station adds a concrete piece of history to Dewey Beach, giving you something more tangible than dates in a guidebook. The value is in being on the spot: seeing how the building, ruins, district, or memorial sits in the modern city around it. It is a little away from the tight centre, but still close enough to fold into a half-day plan if the subject interests you.
It is worth reading a little background before you arrive, because many historic sites reveal themselves slowly. Give yourself time to walk around the edges, look for plaques or small exhibits, and connect it with nearby streets rather than treating it as a single photo stop.