Property summary
This exceptional mixed-use property presents a rare investment opportunity on the market for the first time in its history. Located at 59 Montauk Highway in Westhampton, NY, this unique offering encompasses approximately 1.5 waterfront acres with roughly 232 feet of frontage on Beaver Dam Creek. The centerpiece is Casa Basso, a well-established Italian restaurant operating continuously since its inception 91 years ago. The current owner, who acquired the business in 1986, is now offering this turnkey operation for sale. Adding significant value is a captivating castle, constructed in 1906 by renowned sculptor and potter Theophilus Brouwer, whose works are included in the Smithsonian's permanent collection. This historic structure features ground floor retail space ideally suited for the restaurant's continued operation or alternative commercial ventures. The upper two floors comprise residential studios, each boasting breathtaking waterfront views. The property's Highway Business zoning allows for a variety of uses, making it an attractive proposition for both seasoned investors and those seeking a unique blend of commercial and residential potential. This is a truly one-of-a-kind opportunity to acquire a piece of Westhampton's rich history and vibrant culinary scene. The asking price is $4,500,000.
Property profile
VerifiedCap rate & NOI
Current use
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Electronics & Wireless Store
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Restaurant
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Bakery Specialty Food Shop
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Bakery Specialty Food Shop
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Value estimation
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from $99/month
Cap rate
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from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2020Property description
Physical attributes from public recordsZoning & alternative use
HB · Westhampton, NYZoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
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