Listing Agency: CMS Real Estate Services Inc h***@cms-re.com Show Phone

Listed By: Hayes Histand · License #NY40HI1077845

Source: Crexi

Added: May 11, 2023 Changed: Aug 8 Last Checked: Aug 8 at 11:22AM

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Investment Insights

Based on property information with market context.

This 18.60-acre tract of land, consisting of three lots, presents a development opportunity at the entrance to the Hamptons. The property is located a quarter mile from the Long Island Rail Road/Speonk Train Station. The current owner is open to selling the property subject to either a residential or industrial development plan, contingent upon the purchaser obtaining the necessary planning board approvals from the Town of Southampton. Potential development options include a Transit Oriented Development (TOD), cluster housing, workforce housing, 55+ housing, or an assisted living facility. There is also the possibility of rezoning the property for an Industrial Park, as it is bordered by industrially zoned land on two sides. The current zoning is R-40, which allows for a 1-acre lot subdivision, potentially yielding approximately 11 single-family residences. The land use also permits agricultural purposes, such as a horse farm, tree farm, or nursery/greenhouses. The owner is willing to sell the property as is or entertain a sale subject to a viable development plan, with the price to be determined.

Key Highlights

• Large 18.60 acre tract of land at the entrance to the Hamptons.
• Development opportunity: suitable for residential or industrial projects (subject to approvals).
• Proximity to Long Island Rail Road/Speonk Train Station (1/4 mile).

Property Analytics

Current Use

Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Building Supply HVAC Service Pharmacy Big Box & Wholesale Store Storage Facility Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

167

Businesses Nearby

Explore this area Business Placement

Demographics for 11972, NY

1,013

Population

240

Households

4.2

Avg Household Size

43

Median Age

53%

College-Educated

94%

High-School Grad

0.8 sq mi

ZIP Area

1,266

Density / Sq Mi

$851,600

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Land - 18.60-acre tract suitable for residential or industrial development.

Where is this land located?

The property is located at 149 Old Country Rd Speonk, NY.

What is the asking price?

The asking price for this property is $3,495,000.

What are key features of this property?

This property features: Large 18.60 acre tract of land at the entrance to the Hamptons.; Development opportunity: suitable for residential or industrial projects (subject to approvals).; Proximity to Long Island Rail Road/Speonk Train Station (1/4 mile).