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    508 Main Rd Riverhead, NY 11901

    For Sale
    $1,650,000

    1.5-Acre Office Building, High Income Potential

    Property size:
    5,338 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    316
    This exceptional 5,338 square foot freestanding medical/professional office building presents a unique investment opportunity in the heart of Aquebogue, NY. Situated on a desirable 1.5-acre lot, this fully occupied, seven-unit building currently generates strong rental income. The property is located on Main Road, offering excellent visibility and accessibility. Its zoning, designated as Hamlet Center and Hamlet Residential, allows for a variety of development possibilities beyond its current use. Detailed proposed plans are available for review, showcasing the potential for expansion or redevelopment to capitalize on the thriving North Fork market. The building's existing structure provides immediate return on investment, while the zoning and ample land offer significant long-term growth potential. This property is ideally suited for investors seeking a blend of immediate income and future development opportunities in a highly sought-after Long Island location known for its renowned wine country. The strategic location within Aquebogue ensures convenient access to local amenities and a strong pool of potential tenants. This is a rare chance to acquire a substantial property with both immediate income and significant upside potential in a prime location. The existing building's solid construction and current occupancy make this a low-risk, high-reward investment. Don't miss this chance to own a piece of the vibrant North Fork.

    Property Features for 508 Main Rd

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    5,338 SF
    Lot Size
    65,340 SF

    Building Details

    Year Built
    1974
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    MeTime Beauty Salon Beauty Salon Artisan Construction Associates, ... Custom Home Builder

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Riverhead
    County
    Suffolk County
    State
    New York
    Longitude
    -72.62737
    Latitude
    40.94498

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    FAQs

    What type of property is this?
    Office Property / Space - 1.5-Acre Office Building, High Income Potential
    Where is this office property / space located?
    The property is located at 508 Main Rd Riverhead, NY.
    What is the asking price?
    The asking price for this property is $1,650,000.
    (631) 354-8100
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    508 Main Rd Riverhead, NY 11901
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    Riverhead, NY 11901
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    508 Main Rd Riverhead, NY 11901
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