‘Premier Retail Building’ in Montauk Asks Nearly $10M

A two-story, multi-tenant building in the heart of Montauk’s downtown is available for sale or lease.

Compass Hamptons Commercial Team has the exclusive on the 9,600-square-foot building, which they say has unmatched Main Street presence — 120 feet of frontage on this stretch of Montauk Highway.

“This is the premier retail building in the Montauk business area, providing greater visibility and foot traffic than any other downtown site,” says Hal Zwick, who has the listing along with Jeffrey Sztorc.

The asking price for 716 Montauk Highway on the Montauk Plaza, is $9.975 million, which equals $1,039.06 per square foot.

Montauk, commercial building, retail — The building was renovated in 2019.Courtesy of Hamptons Compass Commercial

Built in 1997, “The property has been thoughtfully upgraded and features a striking, contemporary facade, standing out as one of the few large-scale commercial buildings in Montauk’s retail landscape,” the offering explains of the 2019 renovation. “Its visibility, access, and scale make it a rare investment opportunity in one of the Hamptons’ most active and iconic commercial markets.”

The current tenant mix includes long-standing restaurants, take-out food concepts and lifestyle retailers, “offering a well-balanced and diversified income stream,” the agents say in the description, noting that it is 67% leased. Some include MTK Lobster House, Montauk Tattoo, Blue Crush and Montauk Surf and Sports.

Currently, there is a ground-level, 3,200-square-foot space available for a dry retailer. The space can be subdivided into two 1,450-square-foot units at $9,750 per month.

Situated on one-third of an acre, the property also offers rear parking for both tenants and patrons. There are 43 spaces, which amounts to 4.48 Spaces per 1,000 square feet of leased space.

Surrounding businesses include the Memory Motel, Hampton Coffee Company, A Wave Inn Resort, Munch Box, Muse @ The End, Aqualina Inn Montauk, Sel Rōse Montauk and Sole East.

This is the second-highest retail property on the market on the South Fork. The Hamptons Compass Commercial team also represents 1-15 Hill Street and 1-17 Windmill Lane, a complex in Southampton Village, on the market for $21.9 million.

The 19,865-square-foot building at the corner of Hill Street and Windmill Lane, a mixed-use property, last sold in January 2024 for $8.4 million. Cushman & Wakefield represented the sellers at the time and Hamptons Compass Commercial brought the buyers.

Check out more photos below.