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    Bridgehampton Commercial/Medical New Development Title is generated by Realmo AI

    2297 Montauk Highway, Bridgehampton, NY 11932

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    New 9,093 SF commercial building for lease in Bridgehampton.

    Type:Commercial
    Property size:
    5,491 SF
    Lot size:
    1.00 Acre
    Added:
    Dec 8, 2023
    Days on Market:
    910
    Last Refresh:
    Apr 5 at 11:34 pm

    Property Features for 2297 Montauk Highway

    General Information

    Standard status
    Active
    Size
    5,491 SF
    Lot size
    1.00 Acre
    Property subtype
    Commercial

    Building Details

    Year Built
    2024

    We can help!

    Listing Contact
    Dan Lessing
    Dan Lessing

    Listing agent Dan Lessing License #10401350248

    Listing office Southampton

    Listing date Dec 8, 2023

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Southampton

    HighLights

    • Prime location in Bridgehampton between Montauk Highway and Church Lane, offering high visibility and easy access.
    • 9,093 sq ft new development built‑to‑suit commercial building ideal for medical or general commercial use.
    • Adaptable space with 3,602 sq ft on the ground floor, 1,889 sq ft on the second floor, and 3,602 sq ft of windowed storage in the lower level.
    • 28 dedicated parking spaces for convenient and hassle‑free parking.
    • Opportunity to customize the space to exact business needs.
    • Located in the thriving year‑round village of Bridgehampton.

    Overview

    This commercial property, suitable for medical or general commercial use, is available for lease in Bridgehampton, New York. The proposed new development offers a built-to-suit opportunity. The building has a total area of 9,093 square feet. The ground floor offers 3,602 square feet of proposed office space, with an additional 1,889 square feet of proposed office space on the second floor. The lower level provides 3,602 square feet of windowed storage space. The adaptable space is suited for various business purposes, from medical practices to general office uses. There are 28 dedicated parking spaces. The property is positioned between Montauk Highway and Church Lane, providing a high-visibility location with easy access for pedestrians and motorists. This location is advantageous for establishing or expanding your presence in the village of Bridgehampton.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Auto Parts Store Bar & Pub Barber Shop Shopping Center & Mall Home Appliance Store Arcade & Gaming Center (Bike/Boat/Book/etc) Store Restaurant Coworking & Hybrid Office (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bridgehampton
    County
    Suffolk
    State
    New York
    Longitude
    -72.3062
    Latitude
    40.9354

    FAQs

    What type of property is this?
    Office building - New 9,093 SF commercial building for lease in Bridgehampton.
    Where is this office building located?
    The property is located at 2297 Montauk Highway Bridgehampton, NY.
    What are key features of this property?
    This property features: Prime location in Bridgehampton between Montauk Highway and Church Lane, offering high visibility and easy access.; **9,093 sq ft new development built‑to‑suit commercial building ideal for medical or general commercial use.**; Adaptable space with 3,602 sq ft on the ground floor, 1,889 sq ft on the second floor, and 3,602 sq ft of windowed storage in the lower level.
    (631) 500-0743
    We can help!
    Listing Contact
    Dan Lessing
    Dan Lessing
    Real Estate License ID: 10401350248
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    2297 Montauk Highway, Bridgehampton, NY 11932
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