Retail Showroom with
For Sale
Contact for pricing
1179 Old Country Rd, Riverhead, NY 11901
Commercial property combining customer-facing showroom space with a separate warehouse and broad zoning for multiple business uses.
Property Size8,000 SF
Price / SF$275
Days on Market15
Property Features for 1179 Old Country Rd
General Information
Standard status
Active
Size
8,000 SF
Class
B
Total Parking Spaces
12
Property subtype
Retail
Zoning
BC
Net Operating Income
$120,000
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Warehouse Space
3,500 SF
Amenities
large signage
Building Details
Year Built
1964
Year Renovated
2020
Buildings
1
Units
2
Listing Agency:
Richmond Realty Corp
Listed By:
Ike Israel · License #NY
Source:
Crexi
Added: Jul 28
Changed: Aug 4
Last Checked: Aug 10 at 1:20PM
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 Richmond Realty Corp
Investment Insights
Based on property information with market context.
This 8,000-square-foot commercial property includes a 4,500-square-foot retail showroom and a separate 3,500-square-foot warehouse. The building dates to 1964 and includes large signage for business identification. BC zoning supports retail, restaurant, office, personal service, new motor vehicle dealership, and other commercial uses listed in the property information.
The property is situated on Rt 58 in a busy commercial area with reported high traffic and visibility. It is one block from Northwell Peconic Bay Medical Center Hospital and the Riverhead Central School District campus, with national retailers among the neighboring businesses. The offering is suitable for an owner-user or investor, and represents the first exclusive offering following decades of family ownership.
The property is situated on Rt 58 in a busy commercial area with reported high traffic and visibility. It is one block from Northwell Peconic Bay Medical Center Hospital and the Riverhead Central School District campus, with national retailers among the neighboring businesses. The offering is suitable for an owner-user or investor, and represents the first exclusive offering following decades of family ownership.
Key Highlights
- 4,500‑square‑foot retail showroom
- Separate 3,500‑square‑foot warehouse
- 8,000‑square‑foot total property size
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
$156,408
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
7.11%
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%
$3,128,160
$3.1M
Cap Rate 7%
$2,234,400
$2.2M
Cap Rate 9%
$1,737,867
$1.7M
Market Conditions
NOI Build-Up for 8,000 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
$240.0K $30.00/SF
− Vacancy
−$16.6K −$2.07/SF
EGI
$223.4K $27.93/SF
− OpEx
−$67.0K −$8.38/SF
NOI
$156.4K $19.55/SF
Area
Suffolk County, NY
Vacancy
6.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,128,160
Cap Rate 7%
$2,234,400
Cap Rate 9%
$1,737,867
Alternative Uses
Best Use
Retail
$2.23M
$1.96M – $2.61M
NOI $156,408 @ 7.0% cap · market cap 7.11%
Second Best
Warehouse
$1.75M
$1.53M – $2.04M
NOI $122,596 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$2.44M
$2.13M – $2.84M
NOI $170,602 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Northeast region
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Similar Off Market Nearby
- Island Wide Tile & Marble LLC — 889 Pond View Rd, Riverhead, NY 11901
- Lowe's Home Improvement — 1461 Old Country Rd, Riverhead, NY 11901
Frequently Asked Questions
What type of property is this?
Showroom - Commercial property combining customer-facing showroom space with a separate warehouse and broad zoning for multiple business uses.
Where is this showroom located?
The property is located at 1179 Old Country Rd Riverhead, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 4,500‑square‑foot retail showroom; Separate 3,500‑square‑foot warehouse; 8,000‑square‑foot total property size
