32 Park PlEast Hampton, NY 11937

Property Details for 32 Park Pl

Lot size

0.06 AC

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

0301-003.00-06.00-021.002

APU

301003000600021002

Description

This exceptional investment opportunity presents a multi-tenant retail building ideally situated in the heart of East Hampton Village's vibrant shopping district. Located at 32 Park Place, this single-story structure boasts 1,585 square feet of net leasable space, divided into two units. Unit 1, measuring 778 square feet, is currently leased to Latin Express, while Unit 2, encompassing 807 square feet, is also currently leased. The property features 45 feet of frontage on Park Place, providing excellent visibility and accessibility. The building benefits from a sidewalk location to the north and a western easement for a walking path. It shares party walls with 69 Main Street to the south and 34 Park Place to the east. The 0.061-acre lot offers a compact yet highly desirable location within the bustling East Hampton Village shopping area, known for its unique boutiques and high demand for retail space. This property presents a unique opportunity for both owner-users and investors seeking a stable, high-demand retail investment in one of the Hamptons' most sought-after locations. The strong tenant occupancy and prime location make this a compelling investment prospect. The net lease structure provides a straightforward and potentially lucrative investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $483,227

  6.5%

  $446,056

  7%

  $414,195

• Comparable approach

  Method

  Valuation

  Relative Method

  $341,545

  Geo Method

  $341,545

• Alternative Use

  Use

  Valuation

  Residential

  $553,109

  Hospitality

  $506,645

  Educational

  $421,523

  Medical

  $436,020

  Retail

  $655,702

Location Insight

City

East Hampton

County

Suffolk

State

New York

Latitude

40.9627

Longitude

-72.187

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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