670 Montauk HwyWater Mill, NY 11976

Property Details for 670 Montauk Hwy

Year built

1995

Lot size

2.26 AC

Property size (Sq ft)

5,156 SF

Zone code

VB

Property type

Strip malls

Property subtype

Neighborhood centers

APN

0900-114.00-01.00-030.000

APU

900114000100030000

Description

This exceptional 7,667 square foot multi-tenant retail building, located at 670 Montauk Highway, presents a unique investment opportunity. Currently fully vacant, this property offers three available spaces ranging from 810 to 3,500 square feet, providing flexibility for a variety of businesses. The building's versatile layout is ideal for a mix of restaurant and office tenants, with the potential for a flagship retail presence. The property's prominent location on Montauk Highway ensures high visibility and accessibility, attracting significant foot traffic and driving customer engagement. The building's design incorporates second-floor office space, offering additional opportunities for businesses requiring both retail and administrative areas. This presents a rare chance to establish a thriving commercial presence in a high-demand location. The substantial square footage allows for customization to suit individual tenant needs, making it an attractive proposition for businesses seeking a flexible and adaptable workspace. The property's current vacancy status provides a blank canvas for a new owner to curate a vibrant and successful tenant mix, maximizing rental income and return on investment. Serious inquiries are encouraged to explore the potential of this prime commercial real estate offering. The property is ready for immediate occupancy, allowing for a swift and efficient transition for new tenants. This is an exceptional opportunity to secure a well-positioned commercial property with significant growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,077,650

  6.5%

  $994,752

  7%

  $923,698

• Comparable approach

  Method

  Valuation

  Relative Method

  $700,630

  Geo Method

  $700,630

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,925,510

  Mixed-Use / Specialty

  $997,008

  Hospitality / Lodging

  $739,026

  Office

  $997,127

  Institutional / Educational

  $1,038,560

  Residential Income

  $1,215,110

  Multifamily

  $1,425,180

  Automotive / Energy

  $890,194

  Parking / Income-Based Land

  $301,463

  Restaurant / Food Service

  $530,933

  Healthcare / Senior Housing

  $1,016,460

Location Insight

City

Water Mill

County

Suffolk

State

New York

Latitude

40.9102

Longitude

-72.3549

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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