23 Bridge StSag Harbor, NY 11963

Property Details for 23 Bridge St

Year built

1992

Lot size

0.29 AC

Property size (Sq ft)

2,058 SF

Zone code

VILLA

Property type

Investment properties

Property subtype

Live-work space

APN

0903-002.00-02.00-014.001

APU

903002000200014001

Description

This exceptional Sag Harbor commercial property, located at 23 Bridge Street, offers a unique investment opportunity. The 0.29-acre lot features three buildings totaling 3,000 square feet, currently used as a fitness studio and office spaces. The main structure, a 2,000 square foot building, is ideally suited for conversion into a quick-service restaurant, with existing space for 16 indoor seats and access to an outdoor patio. A second-floor area could be utilized as an apartment or office. Two additional cottages, one residential (600 sq ft) and one retail/office (400 sq ft), provide further versatility. The property benefits from a private parking lot and a central courtyard connecting all buildings. Its prime corner location, situated between main village parking lots and adjacent to a proposed condo development, promises significant future appreciation. Permitted uses include professional offices, personal services, single-family homes, apartments, bed-and-breakfasts, workshops, grocery stores, retail stores, taverns, fast food establishments, fitness centers, daycares, and outdoor dining. The property's zoning is Office District. Built in 2003, the property consists of two stories across three buildings with four units. This presents a compelling opportunity for a savvy investor seeking a high-return property in a thriving Hamptons location.

• CAP approach

  CAP return

  Valuation

  6%

  $431,114

  6.5%

  $397,951

  7%

  $369,526

• Comparable approach

  Method

  Valuation

  Relative Method

  $274,276

  Geo Method

  $274,276

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $768,557

  Retail / Commercial

  $397,051

  Hospitality / Lodging

  $294,979

  Office

  $397,999

  Institutional / Educational

  $414,536

  Residential Income

  $485,007

  Multifamily

  $568,854

  Automotive / Energy

  $355,317

  Parking / Income-Based Land

  $120,328

  Restaurant / Food Service

  $211,919

  Healthcare / Senior Housing

  $405,717

Location Insight

City

Sag Harbor

County

Suffolk

State

New York

Latitude

41.0005

Longitude

-72.2971

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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