Automotive Shop with Retail
New
For Sale
$1,399,999
1187 E Main St, Riverhead, NY 11901
An operating auto parts business occupies the property alongside a mechanic and installation area.
Property Size2,526 SF
Days on Market2
Property Features for 1187 E Main St
General Information
Standard status
Active
Size
2,526 SF
Property subtype
Commercial
Financials
Asking Price
$1,399,999
Business Included
Yes
Tenancy & Operations
Currently Operating
Yes
Real Estate Included
Yes
Additional Details
Automotive Uses
auto repair
Taxes and HOA fees
Annual Taxes
$7,414
Building Details
Building Size
2,526 SF
Year Built
1936
Buildings
1
Stories
1
Listed By:
Richard R. Krug Jr PSA SRES SFR
(516) 588-8675
Source:
Elliman
Added: Oct 23
Last Checked: Oct 23 at 5:09PM
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 Richard R. Krug Jr PSA SRES SFR
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This single-story automotive property pairs a customer-facing parts and accessories operation with space for mechanical work and installations. The building dates to 1936 and is currently in use as an automotive retail and service business.
The real estate and operating business are being offered together. The existing configuration brings retail and shop functions under one roof.
The real estate and operating business are being offered together. The existing configuration brings retail and shop functions under one roof.
Key Highlights
- Active auto parts and accessories business
- Retail area plus mechanic and installation workspace
- Building constructed in 1936
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,386
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$987,720
$987.7K
Cap Rate 7%
$705,514
$705.5K
Cap Rate 9%
$548,733
$548.7K
Market Conditions
NOI Build-Up for 2,526 SF
Gross rent
$75.8K $30.00/SF
− Vacancy
−$5.2K −$2.07/SF
EGI
$70.6K $27.93/SF
− OpEx
−$21.2K −$8.38/SF
NOI
$49.4K $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 Rate 5%
$987,720
Cap Rate 7%
$705,514
Cap Rate 9%
$548,733
Alternative Uses
Best Use
Retail
$705.5K
$617.3K – $823.1K
NOI $49,386 @ 7.0% cap · market cap 3.53%
Second Best
Industrial
$512.3K
$448.3K – $597.7K
NOI $35,863 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$769.5K
$673.4K – $897.8K
NOI $53,868 @ 7.0% cap · market cap 3.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
3k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
U-Haul
Shops & Services
1,795 visits/mo
0.1 miles
Tint World
Shops & Services
753 visits/mo
0.1 miles
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Phil's Auto & Truck Repair — 508 Northville Turnpike, Riverhead, NY 11901
- Sap Enterprises — 944 E Main St, Riverhead, NY 11901
- Brookhaven Auto Electric — 1000 E Main St, Riverhead, NY 11901
- Jimmy's Jet Towing Inc. — 965 E Main St, Riverhead, NY 11901
- Riverhead Brake Services — 981 E Main St, Riverhead, NY 11901
Frequently Asked Questions
What type of property is this?
Auto shop - An operating auto parts business occupies the property alongside a mechanic and installation area.
Where is this auto shop located?
The property is located at 1187 E Main St Riverhead, NY.
What is the asking price?
The asking price for this property is $1,399,999.
What are key features of this property?
This property features: Active auto parts and accessories business; Retail area plus mechanic and installation workspace; Building constructed in 1936
