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    1 Hill St Southampton, NY 11968
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    1 Hill St, Southampton, NY 11968

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    • Retail properties & Spaces
    • 19,865 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fire Damage Restoration and Cleanup Southampton / General Contractor / Renovation Specialist

    Property Details for 1 Hill St

    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional commercial property, located at 1-15 Hill St in Southampton, NY 11968, offers a diverse range of spaces ideal for various businesses. The two-story building, totaling 19,865 square feet, boasts 18 individual suites, with a minimum divisible space of 425 square feet and a maximum contiguous space of 2,125 square feet. Currently, 5,850 square feet are available for lease. The property's diverse subtypes include retail, medical office, executive office, coworking, and traditional office spaces, catering to a wide array of business needs. Recently renovated in 2024, the building features updated facades and interiors. Its strategic location at the busy intersection of Hill St, Windmill Ln, and Jobs Ln provides excellent visibility and accessibility, benefiting from high vehicle and pedestrian traffic, ample public parking, and impressive road frontage. The property also offers views of Agawam Park. The current tenant mix includes a natural food market and premium medical suites, creating a vibrant and desirable environment. This is a unique opportunity to secure space in a thriving Southampton commercial center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Southampton
    County
    Suffolk
    State
    New York
    Longitude
    -72.3934
    Latitude
    40.8834

    Comparable in this City

    • Value Estimation by Request
      15,000 SF

      103 County Road 39

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      103 County Road 39, Southampton, NY 11968
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    • Value Estimation by Request
      19,500 SF

      54 Montauk Hwy

      Individual retail properties
      54 Montauk Hwy, Southampton, NY 11968
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    • Value Estimation
      $31,850,000
      255,732 SF

      64 County Rd 39

      MEDICAL CLINIC
      64 County Rd 39, Southampton, NY 11968-5215
      View Details
    • Value Estimation by Request
      150 SF

      125 Sebonac Rd

      MEDICAL CLINIC
      125 Sebonac Rd, Southampton, NY 11968-2726
      View Details
    • Value Estimation
      $3,460,000
      26,384 SF

      740 County Rd 39a

      MEDICAL CLINIC
      740 County Rd 39a, Southampton, NY 11968-5247
      View Details
    • Value Estimation by Request
      500 SF

      101 Jobs Ln

      Restaurants
      101 Jobs Ln, Southampton, NY 11968
      View Details

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    1 Hill St
    Southampton, NY 11968
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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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