Project Description

Office Condo Portfolio in Watermill, NY


Executive Summary:

Price: $12,157,911
Building Size: 20,365 SF
Property Type: Office
Lot Size: 2.13 Acres
Year Built: 2015
Cap Rate: 5.65%
NOI: $686,922
50 Station Rd
Water Mill, NY 11976

Investment Highlights

  • Portfolio Consists of 7 Building Office Condo
  • Property is Over 96% Occupied
  • Beautiful Property Recently Built in 2015
  • Near Neighborhood Retail, Parrish Art Museum, & Water Mill Museum

Investment Summary

American Investment Properties is retained to sell 50 Station Road in Watermill, New York. At this location is a beautiful, recently built, office condo that features 7 buildings. The portfolio totals 20,000 square feet of office space, and 2.13 acres of land. This property is in the area of neighborhood retail, gyms, gas stations,
and museums.

About Watermill, NY

Water Mill is a hamlet and census-designated place located in Suffolk County, Long Island, New York. It is within the Town of Southampton. The county seat is Riverhead. The neighborhood has a total area of 12.5 square miles of which, 11.0 square miles of it is land and 1.5 square miles of it is water. Water Mill is considering incorporating as a village following the unsuccessful attempt by Dunehampton to incorporate.

Water Mill is a middle-class neighborhood. Most people in Water Mill make a good living and more adults in the town have earned college degrees than have people in most other towns in New York. About 88% of housing units in Water Mill are occupied by their owners, not by renters. Some of the summer homeowners also proved to be valuable benefactors who played an important role in preserving the community’s historical artifacts such as the old water mill. Home price value in Water Mill typically ranges from $850,000 up to $4 million respectively.

Contact Broker

Ron Koenigsberg - Commercial Real Estate BrokerRon Koenigsberg, CCIM
(O) 516.393.2300
(F) 516.390.5780

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