Building Details

Building Size 8,000 SF

Year Built 1987

Buildings 4

Tenancy Multi

Listed By: Gail Leone Show Phone

Source: Clairedleone

Added: Dec 3, 2025 Changed: Oct 23 Last Checked: Oct 23 at 4:32PM

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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 Gail Leone

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Investment Insights

Based on property information with market context.

This mixed-use property comprises five units across three buildings, including a two-bedroom residence with a yard and privacy fencing. Building 173 has a full basement. The property was built in 1987 and is served by city water and gas.

The buildings occupy the corner of Montauk Highway and Sunset Avenue in Westhampton Beach. CVS, TD Bank, Dunkin’, 7-Eleven, and Valero are among the national businesses identified in the surrounding area. More than 30 parking spaces and multiple curb cuts provide on-site parking and vehicle access.

Key Highlights

• Five‑unit mixed‑use property across three buildings
• Two‑bedroom residence with a yard and privacy fencing
• More than 30 parking spaces and multiple curb cuts

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$142,416

Cap Rate

4.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,848,320 $2.8M

Cap Rate 7%

$2,034,514 $2.0M

Cap Rate 9%

$1,582,400 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,000 SF

Gross rent

$247.7K $30.96/SF

− Vacancy

−$19.8K −$2.48/SF

EGI

$227.9K $28.48/SF

− OpEx

−$85.4K −$10.68/SF

NOI

$142.4K $17.80/SF

Area

Suffolk County, NY

Vacancy

8.00%

Lease Rate

$30.96 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,848,320

Cap Rate 7%

$2,034,514

Cap Rate 9%

$1,582,400

Alternative Uses

Best Use

Mixed Use

$2.03M

$1.78M – $2.37M (±1% cap)

NOI $142,416 @ 7.0% cap · market cap 4.38%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.44M

$2.13M – $2.84M (±1% cap)

NOI $170,602 @ 7.0% cap · market cap 5.25%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

M&M Beauty Salon Hair Salon

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Furniture & Home Goods Auto Parts Store (Bike/Boat/Book/etc) Store Garden Center

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

Lease Details

Multi-tenant

Tenancy

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

419

Businesses Nearby

Explore this area Business Placement

Demographics for 11978, NY

4,087

Population

3,936

Households

1

Avg Household Size

44

Median Age

59%

College-Educated

94%

High-School Grad

10.2 sq mi

ZIP Area

401

Density / Sq Mi

$108,938

Median Household Income

$32,868

Median Earnings

$2,079

Median Rent

$1,045,100

Median Home Value

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The site includes three buildings, city water and gas, and more than 30 parking spaces.

Where is this mixed-use property located?

The property is located at 183 Montauk Highway West Hampton Beach, NY.

What is the asking price?

The asking price for this property is $3,250,000.

What are key features of this property?

This property features: Five‑unit mixed‑use property across three buildings; Two‑bedroom residence with a yard and privacy fencing; More than 30 parking spaces and multiple curb cuts