Two commercial properties on Montauk’s Main Street, including one of the oldest retail storefronts in hamlet and a gas station, has been listed for sale for $5.475 million.
The iconic Martell’s at Montauk, a convenience store that sells everything from candy to cigars, and Montauk Fuels, a traditional-style gas station with a three-bedroom, one-bathroom apartment, located side-by-side on Montauk Highway with a breezeway between the two, plus a vacant lot to the rear, is up for grabs.
With gas prices creeping up, it may not be such a bad time to get into the gas business.
Brought to market by the Atlantic Team at Douglas Elliman, the listing also provides a rare opportunity for a compound of sorts.
The corner lot at South Essex Street is a 2,371- square-foot gas station that offers pumps, two garages being used as a repair shop, an office and extra space. “Above the office space is an expansive three bedroom apartment that generates amazing rental revenue,” the Atlantic Team says in the listing. There is a large yard in the back with plenty of room for expansion or additional parking.
The second parcel, home to the iconic Martell’s store, offers 1,700 square feet of retail space plus “unlimited potential” with expansion upwards a possibility — just look at the neighboring buildings.
“A bonus breezeway is set in place behind the two properties to allow for a passageway or additional parking. Your new Montauk business or investment property awaits in the commercial district of Montauk, with these “CB” zoned properties,” the Atlantic Team says.
Martell’s was originally located at the Montauk Lighthouse, where it opened in 1928, according to Jim Martell, who gave an interview to Newsday in 2018, when the property was listed at $6.9 million.
The multi-purpose lots at 813 Montauk Highway and 803 Montauk Highway were originally listed for $10.5 million in 2016.