Two-Story Mixed-Use
For Sale
$715,000
1161 W Main Street, Riverhead, NY 11901
The property includes central air and a two-level building supporting varied commercial configurations.
Property Size1,200 SF
Lot Size0.26 Acres
Price / SF$595.83
Days on Market160
Property Features for 1161 W Main Street
General Information
Standard status
Active
Size
1,200 SF
Lot size
0.26 Acres
Property subtype
Commercial
Zoning
RFC
Taxes and HOA fees
Annual Taxes
$3,811
Amenities
central air
Building Details
Building Size
1,200 SF
Year Built
1958
Buildings
1
Stories
2
Listing Agency:
Serhant East End LLC
(917) 287-2455
Listed By:
Dawn Watson
(917) 287-2455
Source:
Mydreamhomerealty
Added: Mar 23
Changed: Aug 29
Last Checked: Aug 29 at 7:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Serhant East End LLC
Investment Insights
Based on property information with market context.
Located at 1161 W Main Street in Riverhead, the property is classified as mixed-use and positioned within the Riverfront Corridor. The site contains a two-story, 1,200 square-foot building constructed in 1958 on .26 acre. Central air is installed, and the building’s configuration supports multiple use possibilities. Zoning is designated RFC, providing an important framework for evaluating future occupancy and operations. The address places the property on W Main Street within Riverhead, NY 11901.
Key Highlights
- Two‑story, 1,200 square‑foot building
- Situated on .26 acre
- Central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,362
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$427,240
$427.2K
Cap Rate 7%
$305,171
$305.2K
Cap Rate 9%
$237,356
$237.4K
Market Conditions
NOI Build-Up for 1,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.2K $30.96/SF
− Vacancy
−$3.0K −$2.48/SF
EGI
$34.2K $28.48/SF
− OpEx
−$12.8K −$10.68/SF
NOI
$21.4K $17.80/SF
Area
Suffolk County, NY
Vacancy
8.00%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$427,240
Cap Rate 7%
$305,171
Cap Rate 9%
$237,356
Alternative Uses
Best Use
Mixed Use
$305.2K
$267.0K – $356.0K
NOI $21,362 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$365.6K
$319.9K – $426.5K
NOI $25,590 @ 7.0% cap · market cap 3.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Explore this area
Business Placement
Demographics for 11901, NY
30,936
Population
13,126
Households
2.4
Avg Household Size
42
Median Age
21%
College-Educated
79%
High-School Grad
56.7 sq mi
ZIP Area
546
Density / Sq Mi
$83,252
Median Household Income
$39,949
Median Earnings
$2,195
Median Rent
$437,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property includes central air and a two-level building supporting varied commercial configurations.
Where is this mixed-use property located?
The property is located at 1161 W Main Street Riverhead, NY.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Two‑story, 1,200 square‑foot building; Situated on .26 acre; Central air conditioning
