1640 Montauk HwyWater Mill, NY 11976

Property Details for 1640 Montauk Hwy

Year built

1975

Lot size

0.68 AC

Property size (Sq ft)

2,686 SF

Zone code

CR40

Property type

Auto shops

APN

0900-084.00-01.00-039.000

APU

900084000100039000

Description

This exceptional retail property, located at 1640 Montauk Highway at the intersection of Windmill Lane, presents a unique opportunity for a discerning business. Situated on a prominent 0.68-acre corner lot in a high-traffic area between Water Mill, Bridgehampton, and Sag Harbor, this property offers unparalleled visibility and accessibility. The main building boasts approximately 1,400 square feet of retail space, featuring a beautifully designed showroom ideal for showcasing products or services to clients. Attached to the showroom is an approximately 1,100 square foot quad-bay garage, providing ample space for storage or additional business functions. Convenient rear access leads to a basement area, offering further storage or expansion potential. Upstairs, a 1,100 square foot apartment provides additional space, potentially for residential use or office space. The property also includes a gated rear car yard and a separate 1,400 square foot dual-bay warehouse garage, perfect for expanding operations, increasing inventory, or accommodating a secondary business. This versatile property is perfect for a variety of retail uses and offers significant potential for growth and success in a highly desirable location within Suffolk County. The entire 1,400 square feet is currently vacant and ready for immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $561,397

  6.5%

  $518,213

  7%

  $481,198

• Comparable approach

  Method

  Valuation

  Relative Method

  $364,991

  Geo Method

  $364,991

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,003,090

  Mixed-Use / Specialty

  $519,388

  Hospitality / Lodging

  $384,993

  Office

  $519,450

  Institutional / Educational

  $541,034

  Residential Income

  $633,010

  Multifamily

  $742,442

  Automotive / Energy

  $463,744

  Parking / Income-Based Land

  $157,046

  Restaurant / Food Service

  $276,588

  Healthcare / Senior Housing

  $529,523

Location Insight

City

Water Mill

County

Suffolk

State

New York

Latitude

40.9276

Longitude

-72.3298

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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