Riverhead Mixed-Use Riverfront
For Sale
$715,000
1161 W Main St, Riverhead, NY 11901
Two-story, 1,200 SF building on .26 acre in Riverhead.
Property Size1,200 SF
Lot Size0.37 Acres
Price / SF$595.83
Days on Market148
Property Features for 1161 W Main St
General Information
Standard status
Active
Size
1,200 SF
Lot size
0.37 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,811
Building Details
Building Size
1,200 SF
Year Built
1958
Listing Agency:
(860) 671-1673
Listed By:
Lisa D. Oehler
(860) 671-1673
Source:
Elliman
Added: Mar 25
Changed: Aug 16
Last Checked: Aug 19 at 11:44AM
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 Lisa D. Oehler
Investment Insights
Based on property information with market context.
This mixed-use property is located in the Riverfront Corridor of Riverhead. It features a two-story building with 1,200 square feet of space, situated on a 0.26-acre lot. The building is equipped with central air conditioning and offers multiple use possibilities.
Key Highlights
- Prime location in Riverhead's Riverfront Corridor
- Mixed‑use property with multiple use possibilities
- Two‑story building with 1,200 square feet
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 - Two-story, 1,200 SF building on .26 acre in Riverhead.
Where is this mixed-use property located?
The property is located at 1161 W Main St 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: Prime location in Riverhead's Riverfront Corridor; Mixed‑use property with multiple use possibilities; Two‑story building with 1,200 square feet
