Building Details

Year built 2002

Building materials Vinyl Siding

Roof type Asphalt

Listing Agency: Compass L***@compass.com Show Phone

Listed By: Hal Zwick · License #40ZW1016031 Show Phone

Added: Feb 18 Changed: Oct 10 Last Checked: Oct 10 at 5:06AM

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MLS# 11658706

Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 1,880-square-foot end-cap retail space in Water Mill is offered with an operating wine and spirits business. The business includes established branding, vendor relationships, purchasing and inventory processes, and an off-premise license for packaged alcohol sales. Southern-facing windows bring natural light into the store. The building dates to 2002.

The premises are within a shopping center on a signalized corner along Montauk Highway. The 3.65-acre center has 154 parking spaces and 9 Tesla Superchargers. A 38-unit townhome community is immediately adjacent to the property.

Key Highlights

• 1,880‑square‑foot end‑cap retail premises with southern window exposure
• Sale includes an operating wine and spirits business and an off‑premise retail license
• Shopping center at a signalized intersection on Montauk Highway

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,756

Cap Rate

4.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$735,120 $735.1K

Cap Rate 7%

$525,086 $525.1K

Cap Rate 9%

$408,400 $408.4K

Market Conditions

NOI Build-Up for 1,880 SF

Gross rent

$56.4K $30.00/SF

− Vacancy

−$3.9K −$2.07/SF

EGI

$52.5K $27.93/SF

− OpEx

−$15.8K −$8.38/SF

NOI

$36.8K $19.55/SF

Area

Suffolk County, NY

Vacancy

6.90%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$735,120

Cap Rate 7%

$525,086

Cap Rate 9%

$408,400

Alternative Uses

Best Use

Retail

$525.1K

$459.5K – $612.6K (±1% cap)

NOI $36,756 @ 7.0% cap · market cap 4.11%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$572.7K

$501.1K – $668.2K (±1% cap)

NOI $40,091 @ 7.0% cap · market cap 4.48%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Rowe Plastic Surgery Physician Erika Bloom Pilates Gym & Fitness Center Rowe Medspa Physician Bistro Ete Restaurant Eddie Plishti Salon Hair Salon

Suggested Use

Top Pick Dental Office Electrical Service Storage Facility Furniture & Home Goods Bakery Pharmacy

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

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

287

Businesses Nearby

16k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Shell Shops & Services

15,765 visits/mo 0.3 miles

Demographics for 11976, NY

2,764

Population

2,550

Households

1.1

Avg Household Size

50

Median Age

77%

College-Educated

98%

High-School Grad

13.0 sq mi

ZIP Area

213

Density / Sq Mi

$158,000

Median Household Income

$64,643

Median Earnings

$3,200

Median Rent

$2,000,001

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Retail space - An operating wine and spirits business includes an off-premise retail license, established vendor channels, and merchandising systems.

Where is this retail space located?

The property is located at 760 Montauk Highway Watermill, NY.

What is the asking price?

The asking price for this property is $895,000.

What are key features of this property?

This property features: 1,880‑square‑foot end‑cap retail premises with southern window exposure; Sale includes an operating wine and spirits business and an off‑premise retail license; Shopping center at a signalized intersection on Montauk Highway