Southampton - Inventory is moving quickly in Southampton Village but there are still over 30 spaces for rent. Retail spaces range from the former Saks Fifth Avenue flagship building priced at $75 per square foot to 150 square feet in a courtyard off Jobs Lane listed at $17,500 for the season.

When asked if the amount of vacancies were the norm this time of year, Southampton realtor James McLauchlen, Sr. said, "Nothing is normal in the real estate market."

There are over 30 spaces for rent in southampton. (Kelly Sharp)

McLauchlen Real Estate is offering the space which Hampton Homecare currently occupies at 260 Hampton Road, at 3,000 square feet, it goes for $40 per square foot.

"With Saks Fifth Avenue gone, the village just seems more empty," said Morley Quatroche, Jr. of the Morley Agency.

Saks Fifth Avenue closed up shop after 60 years in the village. The old-school, high-end retailer moved into the former Southampton Town Hall 25 years ago. Leasing agent, Robert K. Futterman is offering the elegant, brick building a variety of ways. The 8,100 square foot selling space can be divided into portions, the smallest space being 800 square feet with frontage on Hampton Road.

The Morley Agency is offering the handsome corner space across the street from Saks. A step up, 100 Main Street includes 807 square feet of retail space and a 400 square foot basement for $4,500 per month. The Morley Agency is also listing 94 Main Street, a little further south for $5,500 per month. It's 867 square feet with a 500 square foot basement in a good location.

Across the street, a beautiful 4792 square foot Victorian is for sale at 79 Main Street for $4.7 million. That price makes it the most expensive space on the market which comes out to $981 per square foot. It is probably the best location in town, however, at that price, it would not really be "an exceptional opportunity for the entrepreneur," as it is listed on Prudential's site. The buyer would probably be a larger entity, in the market to fly the corporate flag, rather than turn a profit. Hopefully whoever purchases this beauty will opt to "preserve a tradition," as Prudential's listing also suggests.

The smallest retail spots in the hamptons is a 150 square foot courtyard. (Kelly Sharp)

Romantic courtyard spaces are more appealing to small businesses after a short term lease or pop-up shop. According to Quatrodche "The smallest retail spot in the Hamptons" is 150 square feet in a courtyard off Jobs Lane for $17,500, up front, for 'the season' which is flexible." Other seasonal courtyard spaces available from the Morley Agency: 560 square feet at $27,500 and 600 square feet for $32,000.

In the old Caldwell Banker space around the corner on Job's Lane and across from Agawam Park, there is 2,500 s.f. for $5,000 and 1,000 s.f. for $3,500 available.

"I've signed three commercial leases in the last three weeks," said building manager Linda Kouzodjian.

Kouzodjian said that commercial rentals are just picking up now. "Renters have a renewed sense of confidence. They are signing one year leases with three year option renewals as opposed to just wanting to open up for four months, as they have in the past few years" she said.

Brand new construction at the beginning of Hill Street is being offered by Newmark Knight Frank at $50 square feet but the owners are negotiable. There are several spaces over 1,000 square feet available. "We just want to rent them," said one of their sales representatives.

Commerical rentals are picking up now. (Kelly Sharp)

Phil Futterman has several older spaces on the opposite corner at Hill and Windmill which range from $35 to $40 per square foot. These might actually be the lowest rates in the village because it's a little off the beaten path. The newer spaces and whatever goes into the space in the old Le Sport Sac space might revive the area. Only time will tell.

Thyme and Again cafe occupied the building across the street. It is for sale for just over a million dollars. The certificate of occupancy recognizes two 600 square foot, street level retail spaces and two apartments with a combined four bedrooms, four baths and terrace overlooking Windmill Lane. Too bad it's not inhabitable. A buyer would have to do a total renovation or tear it down and reapply for the wet license which is not guaranteed. At the right price, this could be a decent deal to start fresh in the village.

Nugent Street has seen some recent turnovers which is a good sign. A lovely shingled building with double wide shop windows on the sunny side, close to Main Street, is in contract. The listing price was $1,175,000 and includes an apartment, courtyard, parking spot and terrace. This purchase just might be an exceptional opportunity for the entrepreneur.

Good luck to all.