Renovated Two-Unit Medical Office
1190 Old Country Rd Riverhead, NY 11901
1190 Old Country Rd, Riverhead, NY, 11901
$1,575,000
For Sale
$1,575,000
Renovated two-unit medical office building with strong income potential and 100% occupancy.
Property Size3,446 SF
Price / SF$457.05
Days on Market47
Property Features for 1190 Old Country Rd
General Information
- Standard status
- Active
- Size
- 3,446 SF
- Property subtype
- Office
Building Details
- Year Built
- 1959
Listing Agency
(631) 786-0557
Listed by
Lee Rosner, SIOR CCIM · License #NY #10491210862
(631) 786-0557
Source
Nailongisland
Added: Jun 2 Checked: Jul 17 at 6:29 am
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 Lee Rosner, SIOR CCIM
Investment Insights
Based on property information with market context.
1190 Old Country Road is a well maintained, two-unit medical office building totaling 3,446 square feet. The property was built in 1959 and has been renovated, offering a clear, purpose-built medical office configuration with 100% occupancy. Both tenants are currently month to month, and the seller may consider negotiating separate lease extensions.
Located in Riverhead, the building is zoned SC. The tenancy structure provides flexibility for an owner seeking near-term control while still carrying fully leased current income. If a buyer prefers to reposition the property, the building can also be delivered vacant with six (6) months prior notice to each tenant.
This offering is well suited for investors looking for a maintained two-tenant medical asset with steady occupancy and lease flexibility, or for buyers interested in controlling tenant timing for future business planning. The building’s established medical office use and renovated condition make it a practical fit for continued investment or for operators seeking a smaller, manageable platform in a zoned medical environment.
Located in Riverhead, the building is zoned SC. The tenancy structure provides flexibility for an owner seeking near-term control while still carrying fully leased current income. If a buyer prefers to reposition the property, the building can also be delivered vacant with six (6) months prior notice to each tenant.
This offering is well suited for investors looking for a maintained two-tenant medical asset with steady occupancy and lease flexibility, or for buyers interested in controlling tenant timing for future business planning. The building’s established medical office use and renovated condition make it a practical fit for continued investment or for operators seeking a smaller, manageable platform in a zoned medical environment.
Key Highlights
- Renovated 2‑unit medical office building with 3,446 SF total and 100% occupancy
- Built in 1959; renovated medical office space arranged as two units
- Zoned SC in Riverhead
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.4k | $27.96 |
| − Vacancy | −$17.3k | −$5.03 |
| EGI | $79.0k | $22.93 |
| − OpEx | −$19.8k | −$5.73 |
| NOI | $59.3k | $17.20 |
3,446 SF · lease $27.96/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$846.5K
$740.7K – $987.6K
NOI $59,255 @ 7.0% cap · market cap 3.76%
Second Best
Healthcare Medical
$787.4K
$688.9K – $918.6K
NOI $55,115 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$1.05M
$918.6K – $1.22M
NOI $73,487 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
IslandWide Dermatology - David ...
Physician
Oral Surgeons
Dental Office
Friedel William DDS
Dental Office
Alexa Haemer
Physician
Dr. Robert Maimone
Dental Office
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - Renovated two-unit medical office building with strong income potential and 100% occupancy.
Where is this medical office space located?
The property is located at 1190 Old Country Rd Riverhead, NY.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Renovated 2‑unit medical office building with 3,446 SF total and 100% occupancy; Built in 1959; renovated medical office space arranged as two units; Zoned SC in Riverhead
