Medical/Office Building on Roanoke
For Sale
$750,007
976 Roanoke Ave, Riverhead, NY 11901
Professional building suitable for medical, wellness, or general office use.
Property Size1,452 SF
Lot Size0.22 Acres
Price / SF$516.53
Days on Market110
Property Features for 976 Roanoke Ave
General Information
Standard status
Active
Size
1,452 SF
Lot size
0.22 Acres
Property subtype
Commercial
Building Details
Year Built
1952
Listing Agency:
Howard Hanna | Coach Realtors
(631) 427-9100
Listed By:
David F. Ng SFR
(631) 427-9100
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 11 at 8:46AM
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 Howard Hanna | Coach Realtors
Investment Insights
Based on property information with market context.
This approximately 1,452 SF building presents an opportunity for acquisition in a visible location on Roanoke Avenue in Riverhead. The property is suited for medical, wellness, or general office use, featuring multiple treatment/exam rooms, a reception area, and a flexible interior layout. Situated on a 9,500+ SF lot with on-site parking, the property offers accessibility for patients and staff. The location is near Peconic Bay Medical Center, major roadways, and Riverhead’s commercial corridor, benefiting from traffic exposure and a flow of local clientele. Interior features include multiple exam/treatment rooms, a reception/waiting area, private office space, and two bathrooms. The floor plan is flexible for medical or professional use, with central air conditioning and ADA adaptability potential. Exterior features include on-site parking, a private driveway, a large lot with expansion potential, road frontage, and visibility with easy access. The property is located on a high-visibility corridor on Roanoke Avenue, minutes from Peconic Bay Medical Center and close to the Route 58 retail corridor, with access to the Long Island Expressway (I-495). It is central to Suffolk County East End communities. Ideal use cases include a medical practice, wellness center, integrative medicine clinic, professional office, or investment property with rental income potential.
Key Highlights
- Prime location on Roanoke Avenue with high visibility and strong traffic exposure.
- Close proximity to Peconic Bay Medical Center, major roadways, and Riverhead's commercial corridor.
- Versatile 1,452 SF building suitable for medical, wellness, or general office use.
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
$24,968
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
3.33%
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%
$499,360
$499.4K
Cap Rate 7%
$356,686
$356.7K
Cap Rate 9%
$277,422
$277.4K
Market Conditions
NOI Build-Up for 1,452 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
$40.6K $27.96/SF
− Vacancy
−$7.3K −$5.03/SF
EGI
$33.3K $22.93/SF
− OpEx
−$8.3K −$5.73/SF
NOI
$25.0K $17.20/SF
Area
Suffolk County, NY
Vacancy
18.00%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
25.00%
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%
$499,360
Cap Rate 7%
$356,686
Cap Rate 9%
$277,422
Alternative Uses
Best Use
Office B
$356.7K
$312.1K – $416.1K
NOI $24,968 @ 7.0% cap · market cap 3.33%
Second Best
Healthcare Medical
$331.8K
$290.3K – $387.1K
NOI $23,223 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$442.3K
$387.1K – $516.1K
NOI $30,964 @ 7.0% cap · market cap 4.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,101
Businesses Nearby
Under-served
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional building suitable for medical, wellness, or general office use.
Where is this medical office space located?
The property is located at 976 Roanoke Ave Riverhead, NY.
What is the asking price?
The asking price for this property is $750,007.
What are key features of this property?
This property features: Prime location on Roanoke Avenue with high visibility and strong traffic exposure.; Close proximity to Peconic Bay Medical Center, major roadways, and Riverhead's commercial corridor.; Versatile 1,452 SF building suitable for medical, wellness, or general office use.
