Two-Story Mixed-Use
For Sale
$715,000
1161 W Main Street, Riverhead, NY 11901
COMMERCIAL - Riverhead, NY
Property Size1,200 SF
Lot Size0.26 Acres
Price / SF$595.83
Days on Market153
Property Features for 1161 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
High school district
000000
Standard status
Active
Lot size
0.26 Acres
Amenities
central air
Listing Agency:
SERHANT.
(631) 500-8800
Listed By:
Dawn Watson
(646) 480-7665
Added: Mar 20
Changed: Aug 4
Last Checked: Aug 19 at 7:06PM
MLS# 11677267
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.
Investment Insights
Based on property information with market context.
This mixed-use property comprises a two-story building containing 1,200 square feet and situated on a .26-acre parcel. Central air is installed, providing a defined building improvement for the commercial space.
The property is located at 1161 W Main Street in Riverhead, New York, within the Riverfront Corridor. Its building scale and mixed-use classification support a range of commercial applications, subject to applicable requirements.
The property is located at 1161 W Main Street in Riverhead, New York, within the Riverfront Corridor. Its building scale and mixed-use classification support a range of commercial applications, subject to applicable requirements.
Key Highlights
- 1,200‑square‑foot, two‑story mixed‑use building
- .26‑acre site
- Central air installed
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 occupies a two-story commercial building in Riverhead’s Riverfront Corridor.
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: 1,200‑square‑foot, two‑story mixed‑use building; .26‑acre site; Central air installed
