1-15 Hill St - Storefront Retail/Office FOR SALE


Southampton, NY 11968
$22,500,000 USD
631-834-2626
1-15 Hill St, Southampton, NY for Sale
$22,500,000 USD
Storefront Retail/Office - FOR SALE
1/73
null | 6.5% Cap Rate

1-15 Hill St
Southampton, NY 11968


HIGHLIGHTS

  • $4.5 Million Capital Expenditure for modern amenities and infrastructure completed.
  • 14 Triple-Net (NNN) tenants, including high-end brands such as New York Pilates, Windmill Lane Bakery, Le Closet NY, and Wave Wellness.
  • The property boasts strong income with new leases in place and extremely low operating expenses.
  • Owner will assist in filling the very few vacancies that remain.
  • PLEASE DIRECT ALL INQUIRIES TO Michael Murphy at 631.834.2626

OVERVIEW

PLEASE DIRECT ALL INQUIRIES TO Michael Murphy at 631.834.2626 Prime Location: Situated in the prestigious and highly sought-after area of Southampton, known for its affluent community and year-round appeal. Renovations: $4.5 Million Capital Expenditure for modern amenities and infrastructure completed. Brand-new building! Absolutely zero renovation expenditures required for many years to come. Strong tenant mix: Currently occupied by 14 Triple-Net (NNN) tenants, including high-end brands such as New York Pilates, Windmill Lane Bakery, Le Closet NY, and Wave Wellness. Income Advantages: The property boasts strong income with new leases in place and extremely low operating expenses. Incentive: The current owner is also willing to assist the buyer in filling the remaining vacancies, further enhancing the investment’s profitability. Visibility and accessibility: Located on a highly visible corner lot with ample free municipal parking, ensuring ease of access for tenants and customers alike. Rents will increase to over $1.4 Million before or shortly after sale.

FOR SALE DETAILS

PRICE

$22,500,000 USD

PRICE/SF

$1,133 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

V-B

APN/PARCEL ID

0904-006-00-01-00-023-001

ASK ABOUT THIS PROPERTY

Michael MurphyDouglas Elliman CommercialMore Info
631-834-2626

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Michael MurphyDouglas Elliman CommercialMore Info
631-834-2626

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.