285 E Montauk Hwy, Hampton Bays, New York, 11946

285 E Montauk Hwy
Hampton Bays NY 11946

EXCLUSIVE
Floor:vinyl

Property

Furnished: YES
Ownership: Commercial
Type: Commercial Sale
Rooms: 16
Bedrooms: 16 BR
Bathrooms: 16.5
Area: 4828 sq ft
Lot Size: 1.70 Acres

Financials

Price: $8,500,000

Description

Property Classification: Resort Waterfront Business

Building Area: Approx. 5800 SqFt

Lot Size: 1.7 acres

Reported Income 2020: Approx. $565k – Seasonal (Late Spring through Mid Fall)

Projected Income 2021: Approx. $600k – Seasonal (Late Spring through Mid Fall)

Potential Annual Income w/ Additional Revenue Streams: $1mil+

Operating Expenses: Approx. $140k

Property Tax 2019: $16,534.72

Property Tax 2020: $16,703.48

Key Highlights

  • Located in the Heart of Popular Vacation Area
  • Open Bay Views with Leased Access to the Water
  • Additional Revenue Stream Opportunities: Weddings and Events via Newly Curated Hillside
  • Grand-fathered Co-Op/Condo Zoning Opportunity
  • Grand-fathered to Expand each Structure's SqFt by 50%
  • Quarter Acre on back Lot Zoned Residential
  • Incredibly Lucrative Turn-Key Opportunity!

Overlooking Shinnecock Bay, the Ocean View Terrace is a boutique Inn. Built in the 1950s with sixteen (16) units, it has kept its exterior nostalgic charm and cozy interiors. Known for its long history in the Hamlet of Hampton Bays, this Inn has reminded those that have stayed in the past of childhood memories while creating new ones for the current generation with its recent renovations to all bedrooms and eleven (11) out of the sixteen (16) bathrooms. Guests enjoy coffee on their deck while watching panoramic sunrise views over calm waters that later bring the excitement of water sport activities and gorgeous boats. The evening hours transition to iridescent painted waves and romantic sunset skies. With plenty of luscious open landscape and recent electricity added to its back lawn, the opportunity to host weddings and events allow for additional revenue streams throughout the season. Conveniently minutes to all of Southampton's Ocean Beaches and the Hampton Bays and Southampton Villages.

Amenities

  • A/C units
  • Balcony
  • Basement
  • Bay View
  • Courtyard
  • Deck
  • Fireplace
  • Furnished
  • Garage
  • Garden
  • Investment Property
  • Laundry Room
  • Patio
  • Pool
  • Pool House
  • Private Storage
  • Water view

Neighborhood

More listings:

Ocean View Terrace Inn, Hampton Bays

Description

Property Classification: Resort Waterfront Business

Building Area: Approx. 5800 SqFt

Lot Size: 1.7 acres

Reported Income 2020: Approx. $565k – Seasonal (Late Spring through Mid Fall)

Projected Income 2021: Approx. $600k – Seasonal (Late Spring through Mid Fall)

Potential Annual Income w/ Additional Revenue Streams: $1mil+

Operating Expenses: Approx. $140k

Property Tax 2019: $16,534.72

Property Tax 2020: $16,703.48

Key Highlights

  • Located in the Heart of Popular Vacation Area
  • Open Bay Views with Leased Access to the Water
  • Additional Revenue Stream Opportunities: Weddings and Events via Newly Curated Hillside
  • Grand-fathered Co-Op/Condo Zoning Opportunity
  • Grand-fathered to Expand each Structure's SqFt by 50%
  • Quarter Acre on back Lot Zoned Residential
  • Incredibly Lucrative Turn-Key Opportunity!

Overlooking Shinnecock Bay, the Ocean View Terrace is a boutique Inn. Built in the 1950s with sixteen (16) units, it has kept its exterior nostalgic charm and cozy interiors. Known for its long history in the Hamlet of Hampton Bays, this Inn has reminded those that have stayed in the past of childhood memories while creating new ones for the current generation with its recent renovations to all bedrooms and eleven (11) out of the sixteen (16) bathrooms. Guests enjoy coffee on their deck while watching panoramic sunrise views over calm waters that later bring the excitement of water sport activities and gorgeous boats. The evening hours transition to iridescent painted waves and romantic sunset skies. With plenty of luscious open landscape and recent electricity added to its back lawn, the opportunity to host weddings and events allow for additional revenue streams throughout the season. Conveniently minutes to all of Southampton's Ocean Beaches and the Hampton Bays and Southampton Villages.

Amenities

  • A/C units
  • Balcony
  • Basement
  • Bay View
  • Courtyard
  • Deck
  • Fireplace
  • Furnished
  • Garage
  • Garden
  • Investment Property
  • Laundry Room
  • Patio
  • Pool
  • Pool House
  • Private Storage
  • Water view

Neighborhood

More listings:

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.