177 W Montauk Hwy, Hampton Bays, NY

Motel for Sale - $3,199,000 - 9,652 Sq. Ft. on 3 acres


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Agent Info

Nametodd Romano

Property Info

CIMLS #957238
Location177 W Montauk Hwy
Hampton Bays NY 11946
Last UpdatedMarch 5th, 2018
TypeMotel
Price$3,199,000
Building9,652 Sq. Ft.
Land3 acres
DemographicsView data

Contact


Property Description

Highlights

- Recently Reduced $$--Retirement Sale

- Consecutive Trip Advisers 4.5 Star Rated

East End Long Island Resort

- Ranked #2 Hotel Destination in Hampton's

- Priced Below Land & Buildings Replacement

Cost! Business is a gift!

- 17 Unit seasonal Resort

- Can be operated Year Round Tenancy/Rentals

- Signaled entry/Signage/Sidewalks

- Rare 325' ft.Highway frontage

- Development rights intact

- Owner will hold paper long term

- U.S Open Patrons 2018

- High Traffic Location

- In Business over 25 years / Great NOI

Property Description

*Price Reduced--Retirement Sale*

** 3 Acres Existing 17 Unit Motel/Resort. 9 Unit Motel and 7 Cottages in addition to a two bed/2 bath Residence w/ Office & Guest Check-in.

Mini Golf; Shuffleboard;USTA Tennis Court;Walking Paths. Weddings;Events etc..

Priced Below Construction Cost--Business is a gift! Operated Seasonal 15 Weeks for high NOI. Call for Details. Tremendous upside potential from fist generation Owners,

Existing 17 Unit Hamptons Seasonal Resort. Zoned Highway Bus. 30% Coverage Equals ~39,465 Sq. Ft Of Lot Coverage For Commercial Project. Planned Re Development Zone. See Town Study Attachments. Rare Large Scale Project Opportunity For Developers. Traffic Signaled Across From Existing Shopping Center.

.25 mi. to L.I.R.R./Penn Station NYC Line. New Sidewalks/ Pedestrian corridors to Downtown Main St.Bike to World Famous Dune Rd;Beaches;Surfing;Wineries etc.. Additional 2 Bedroom House w / Lobby Office Zoned Highway Bus. 30% Coverage Equals ~39,465 Sq. Ft Of Lot Coverage For Commercial Project. Planned Re Development Zone. See Town Study Attachments. Rare Large Scale Project Opportunity For Developers. Traffic Signaled Across From Existing Shopping Center. -------------------------------------------------------------------------------- Property Description:3 Acres Existing 17 Unit Motel/Resort Commercial Development Opportunity. Directly On Montauk Highway W/ Traffic Signal At Entrance. Rare Pre Existing 17 Units; Pool; Tennis. 325 Ft Direct Highway Frontage. 24 Successful Years For End User Or Redevelopment. See Attachments Of Town Study. Excellent Financials And Upside Potential For Experienced Operator Or Re Development.


Financials

Gross ~$336k Annually. High Net Due to Low Expenses.

Based on a 15 week Seasonal Season.

Scalable Hotelier Business existing.

Existing Land Equity of ~ $1.2 to $1.5 million (3 Acres Highway Commercial)Buildings equity of ~$2m


Location


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