Mary’s Marvelous in Amagansett, the first of the business’s two locations, is closing its doors and hitting the local real estate market as a long-term lease for $625,000 in key money. The deal, through Douglas Elliman brokers Richard Kohr and Lori Macgarva, includes all existing equipment, but not the property or the Mary’s Marvelous name, which will carry on in their popular East Hampton location at 105 Newtown Lane.
Offered as a “valuable business opportunity,” the shop includes 1,100 square feet of prime Main Street retail space in high traffic area with a dedicated customer base on .05 acres. The one-story building at 270 Main Street in Amagansett currently has retail and kitchen areas, as well as additional exterior storage and outdoor patio space for customers to enjoy. This storefront location can continue to operate as a food use, or it can be refit for other retail possibilities.
“The value is the use of the space,” Kohr said on Friday. “There’s only so many wet use stores out there,” he added, pointing out that “wet use” permitted food establishments are much harder to come by than “dry” retail space. “It might be something else, but it’s really set up for [food use],” Kohr noted.
The broker explains that the deal is essentially the same as buying a business, not a property, but the key difference is the exclusion of the Mary’s Marvelous name. Still a similar use would be likely to draw upon the many folks who already frequent the shop in Amagansett.
