51 Hill StSouthampton, NY 11968

Property Details for 51 Hill St

Year built

1984

Lot size

0.17 AC

Property size (Sq ft)

3,920 SF

Zone code

VILLA

Property type

Office buildings

APN

0904-006.00-01.00-009.000

APU

904006000100009000

Description

This exceptional investment opportunity presents a fully leased, 4,020 square foot commercial property situated on Hill Street in Southampton Village's vibrant business district. The property boasts a prime location amidst significant ongoing development, including a new movie theater, retail spaces, and the Southampton Inn, ensuring strong future growth potential. The building comprises 1.5 floors and sits on a 7,500 square foot lot with 50 feet of frontage on Hill Street, providing excellent visibility and accessibility. Currently operating at 100% occupancy with a credit tenant, this property offers a stable income stream and the potential for future expansion. The building's office space accounts for the entire 4,020 square feet of rentable area. This is a rare chance to acquire a high-performing commercial asset in a thriving and rapidly developing area of Southampton. The strong tenant and prime location make this an ideal investment for those seeking a secure and profitable addition to their portfolio. The property's strategic position within the heart of the business district guarantees high foot traffic and visibility, maximizing its potential for long-term success. This is a turnkey operation with immediate income generation, presenting a compelling opportunity for discerning investors.

• CAP approach

  CAP return

  Valuation

  6%

  $724,649

  6.5%

  $668,907

  7%

  $621,128

• Comparable approach

  Method

  Valuation

  Relative Method

  $512,187

  Geo Method

  $512,187

• Alternative Use

  Use

  Valuation

  Residential

  $829,445

  Hospitality

  $759,767

  Educational

  $632,117

  Medical

  $653,857

  Retail

  $983,293

Location Insight

City

Southampton

County

Suffolk

State

New York

Latitude

40.884

Longitude

-72.3947

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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