Riverhead Commercial Building Investment
33 W 2nd St, Riverhead, NY 11901
Commercial Building - Riverhead, NY
Property size:
26,235 SFLot size:
0.32 AcresPrice / SF:
$264/SF- Added:
- Jan 25, 2025
- Days on Market:
- 480
- Last Refresh:
- May 20 at 3:06 am
Property Features for 33 W 2nd St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 5
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5
- Parking features
- Garage
- Standard status
- Active
- APN
- 0600-128.000-0006-003.001
- Size
- 26,235 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Annual Amount
- 0
Building Details
- Floors in Building
- 2
- Architectural style
- Other
Listing agent Hal Zwick (631) 678-2460
Listing office Compass 63 Main Street, New York, NY (212) 913-9058
Listing date Jan 25, 2025
MLS# 11415104
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High 8% CAP Rate NNN Sale‑Leaseback: Provides a virtually unmatched yield.
- Institutional‑Grade Credit Tenant: Offers stable income with minimized landlord responsibilities under a new 10‑year NNN lease.
- Riverhead Opportunity Zone Location: Provides potential tax advantages tied to ongoing revitalization.
- Strategic Downtown Riverhead Location: Positioned near civic anchors.
- Flexible Building Layout: The 26,235sf building can be converted to multi‑tenant use.
- Durable Building Infrastructure: Architecturally distinctive asset with modern systems.
Overview
This 26,235 square foot office building in Riverhead, NY, presents a stabilized sale-leaseback opportunity with a credit tenant under a new 10-year NNN lease, delivering an approximate 8 CAP. The tenancy is stable and self-servicing, creating a hands-off ownership opportunity with minimized landlord responsibilities due to full NNN expense coverage. While currently single-tenant, the building offers long-term flexibility for multi-tenant conversion, supported by two separate tax parcels. Expanded twice, the structure features a layout including private offices, conference rooms, kitchens, waiting areas, foyers, and open workspaces across the first floor and two second-floor wings. A full egress basement provides additional office/storage space, archives, mechanical areas, and a kitchen. The building blends historic character with modern systems, including elevator access, sprinklers, and preventative maintenance. Positioned in downtown Riverhead on 0.32 acres, it is located across from Town Hall, one block from Main Street, and half a block from the Suffolk County Supreme Court. The property is situated within Riverhead's Opportunity Zone, offering potential tax advantages. Surrounding businesses include the RXR Riverhead Mixed Use Complex, M&T Bank, NYS Supreme Court, Riverhead Town Hall, Tweed's Restaurant, North Fork Brewing Company, Suffolk Theatre, and Star Confectionary. The 2025 Town Tax Bill is $75,919.55. The 2024 Building Insurance is $16,000, and 2024 Repairs/Maintenance costs are $62,757. Tax ID #'s are 0600-128.00-06.00-003.001 & 0600-128.00-06.00-004.001.
Location Intelligence
Current Use by Public Records
Dubin M. David
Law Firm
Mott Peter M
Law Firm
Janice L. Snead
Law Firm
Twomey, Latham, Shea, ...
Law Firm
Location Insight
- Map
- Local Demand
- City
- Riverhead
- County
- Suffolk
- State
- New York
- Longitude
- -72.664031
- Latitude
- 40.918287
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - 26,235 SF office building with credit tenant in place.
Where is this office building located?
The property is located at 33 W 2nd St Riverhead, NY.
What is the asking price?
The asking price for this property is $6,950,000.
What are key features of this property?
This property features: High 8% CAP Rate NNN Sale‑Leaseback: Provides a virtually unmatched yield.; Institutional‑Grade Credit Tenant: Offers stable income with minimized landlord responsibilities under a new 10‑year NNN lease.; Riverhead Opportunity Zone Location: Provides potential tax advantages tied to ongoing revitalization.
