105-107 Newtown Ln East Hampton, NY 11937
- Retail properties
- 10,900 SF
- 0.25 lot acres
Current Use by Public Records
- Retail properties
Property Details for 105-107 Newtown Ln
- Year built
- 1923
- Lot size
- 0.25 lot acres
- Property size
- 10,900 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use property, located at 105-107 Newtown Lane in East Hampton, NY, presents a rare investment opportunity. The 10,900 square foot building, constructed in 1923, boasts three stories and sits on a 0.25-acre lot. The property comprises thirteen units: three street-level commercial spaces currently occupied by Hampton Chutney and Zakura's, creating a thriving dining destination; eight one-bedroom residential apartments, all currently rented; and a separate four-bedroom, four-bathroom rental house. The main building offers approximately 6,800 square feet of residential space and 4,100 square feet of commercial space, with an additional 3,000 square feet of basement space and 1,150 square feet of garage space that could be converted to retail. This fully leased property enjoys a prime location on Newtown Lane, a main thoroughfare in East Hampton, at the corner of Railroad Avenue, within walking distance of Main Street and diagonally across from the East Hampton train station. The consistent high occupancy rate, with no vacancies in over a decade, underscores the desirability of this location. While no unused development rights are currently available, future development potential exists with the anticipated installation of a town sewer system in two to four years, allowing for increased density. This property represents a truly showcase commercial asset with excellent recurring income, priced at $14,250,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- East Hampton
- County
- Suffolk
- State
- New York
- Longitude
- -72.1913
- Latitude
- 40.9652
