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138 Main St 10,885 SF 100% Leased Office Building Sag Harbor, NY 11963 For Sale
INVESTMENT HIGHLIGHTS
- Originally built in the early 1900s, the iconic "Sag Harbor Savings Bank" building retains its architectural elegance.
- Apple Bank is considering a strategic sale-leaseback, and the second-story office spaces are occupied with short-term leases in place.
- A dedicated private parking lot in the rear serves the building's tenants and visitors, adding significant convenience in this high-demand location.
- Positioned on a highly visible corner in the heart of Sag Harbor's Village Business District, surrounded by high-end boutiques, and fine dining.
- The property offers exceptional versatility, with zoning that allows for a variety of uses, including retail, corporate headquarters.
EXECUTIVE SUMMARY
Positioned in the heart of Sag Harbor's prestigious Village Business District, the historic "Sag Harbor Savings Bank" building presents a rare and exceptional investment opportunity. On the market for the first time, this distinguished two-story property combines early 1900s architectural elegance with the expanded functionality of its 1960 one-story extension. Apple Bank, which currently occupies a portion of the building, is considering a strategic sale-leaseback offering new possibilities for ownership or redevelopment. The second-story office spaces are occupied with tenants having short term leases, providing flexibility for an end-user, while Douglas Elliman's lease for the
one-story extension ends May 2028. Additionally, the property features a private parking lot in the rear with direct access to the building and dedicated to the building's tenants and visitors-a valuable convenience in this sought-after location.
Sag Harbor is renowned for its waterfront charm, historic character, and dynamic business environment, making this property an outstanding choice for discerning investors. The Village Business District zoning offers versatility in potential commercial uses, enhancing its redevelopment appeal. Whether transformed into a flagship retail space, corporate headquarters, or premier dining destination, this landmark building represents a unique opportunity in one of the Hamptons' most sought-after locations.
one-story extension ends May 2028. Additionally, the property features a private parking lot in the rear with direct access to the building and dedicated to the building's tenants and visitors-a valuable convenience in this sought-after location.
Sag Harbor is renowned for its waterfront charm, historic character, and dynamic business environment, making this property an outstanding choice for discerning investors. The Village Business District zoning offers versatility in potential commercial uses, enhancing its redevelopment appeal. Whether transformed into a flagship retail space, corporate headquarters, or premier dining destination, this landmark building represents a unique opportunity in one of the Hamptons' most sought-after locations.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
10,885 SF
Building Class
C
Year Built
1989
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
5,443 SF
Slab To Slab
12’
Building FAR
0.68
Lot Size
0.37 AC
Zoning
VILLA
Parking
14 Spaces (1.29 Spaces per 1,000 SF Leased)
AMENITIES
- Banking
1 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 0903-002-00-02-00-045-001 | Improvements Assessment | $1,519,400 |
| Land Assessment | $945,300 | Total Assessment | $2,464,700 |
PROPERTY TAXES
Parcel Number
0903-002-00-02-00-045-001
Land Assessment
$945,300
Improvements Assessment
$1,519,400
Total Assessment
$2,464,700
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138 Main St
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