177 W Montauk Hwy, Hampton Bays, NY

Motel for Sale - $2,995,000 - 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 UpdatedMay 5th, 2019
TypeMotel
Price$2,995,000
Building9,652 Sq. Ft.
Land3 acres
DemographicsView data

Contact


Property Description

Gross Revenues of ~ $387,000 for Summer Season Only! (5mo) 2018 - Can operate Year Round!

- Recently Reduced $$- $159,000 A UNIT For Quick Sale !

- Consecutive Trip Advisers 4.5 Star Rated East End Long Island Resort 2018

- Ranked #2 Hotel Destination in Hampton's 2018

- Priced Below Land & Buildings Replacement Cost!...Business is a gift!

- 17 Unit seasonal Resort PLUS Y/R RESIDENCE!

- Can be operated Year Round Tenancy/Rentals

- Signaled entry /exit to property - Full Signage; New Town Sidewalks

- Rare 325' ft.Highway frontage

- Development rights intact

- U.S Open Golf - 21 Min Away!!

- High Traffic Location

- In Business over 25 years /Easy Operation... Great N.O.I

*Price Reduced Last Hotel Available in the Hampton's - All were sold last year!

** 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;

Sunken & Lighted USTA Tennis Court - Weddings;Events(See Photos)

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,

Zoned Highway Business. 30% Coverage Equals ~39,465 Sq. Ft Of Lot Coverage For Commercial Project. Planned Re Development Zone. Town Study Available.

Rare Large Scale Project Opportunity For Developers. Traffic Signaled Across From Existing Shopping Center and Bus Line in Front!

.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. -------------------------------------------------------------------------------

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 ~$397080 Annually. High Net - 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