195 Mill RdWesthampton Beach, NY 11978

Property Details for 195 Mill Rd

Year built

1980

Lot size

0.39 AC

Property size (Sq ft)

1,232 SF

Zone code

HC

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

0905-008.00-02.00-023.000

APU

905008000200023000

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,300 square-foot Starbucks located at 195 Mill Rd, Westhampton Beach, NY 11978. Situated on a 0.37-acre lot with 17 parking spaces, this Class A property boasts a prominent location within a five-corner intersection serving as the gateway to Westhampton Beach's affluent downtown shopping district. The single-tenant, net-lease property features a credit-rated, corporate-guaranteed tenant with a 10-year lease commencing January 10, 2025, and expiring January 10, 2035, offering a remaining term of 10.1 years. The lease includes 10% rent bumps every five years and four (with an option for a fifth) five-year renewal options. The property's strong financial performance is reflected in its $225,000 net operating income (NOI) and a 4.25% cap rate. Landlord responsibilities are limited to roof, structure, and building systems. The building, constructed in 2024, is a single-story structure within walking distance of luxury residences, Westhampton Beach High School, and the vibrant downtown area. This is a rare opportunity to acquire a high-performing, low-maintenance asset in a prime location within a highly desirable market. The asking price is $5,294,118.

• CAP approach

  CAP return

  Valuation

  6%

  $227,743

  6.5%

  $210,224

  7%

  $195,208

• Comparable approach

  Method

  Valuation

  Relative Method

  $160,973

  Geo Method

  $160,973

• Alternative Use

  Use

  Valuation

  Residential

  $260,678

  Hospitality

  $238,780

  Educational

  $198,662

  Medical

  $205,494

  Retail

  $309,030

Location Insight

City

Westhampton Beach

County

Suffolk

State

New York

Latitude

40.8142

Longitude

-72.647

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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