Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Sound Avenue Land Opportunity Title is generated by Realmo AI

    3994 Sound Avenue, Riverhead, NY 11901

    View on Map
    Claim this Listing
    For Sale
    $8,100,000

    Land available on Sound Avenue, Riverhead.

    Type:Land
    Added:
    Oct 15, 2024
    Days on Market:
    598
    Last Refresh:
    May 20 at 5:37 am

    Property Features for 3994 Sound Avenue

    General Information

    Standard status
    Active
    Property subtype
    Land

    Building Details

    Year Built
    2006

    We can help!

    Listing Contact
    Mary C. Hartill

    Listing agent Mary C. Hartill

    Listing office

    Listing date Oct 15, 2024

    Source Evrealestate

    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 Mary C. Hartill

    HighLights

    • Panoramic view that will take your breath away.
    • Enjoy the calming water view.
    • Built in 2006.
    • Located in Suffolk County.
    • Situated East of Edwards Ave on Sound Ave.
    • Conveniently located off the Long Island Expressway (LIE).

    Overview

    Located on Sound Avenue in Riverhead, New York, this land parcel presents a development opportunity. The property is situated in Suffolk County. Access is facilitated by taking the Long Island Expressway (LIE) east to Edwards Avenue, then heading east on Sound Avenue.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Law Firm Auto Repair Shop Gym & Fitness Center Kitchen & Bath Showroom Food Market Accounting Firm Garden Center Car Rental Facility Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Riverhead
    County
    Suffolk
    State
    New York
    Longitude
    -72.6750988
    Latitude
    40.9695866

    Nearby Similar for Sale

    • $750,007
      1,452 SF

      Medical/Office Building on Roanoke Avenue

      Professional building suitable for medical, wellness, or general office use.
      976 Roanoke Avenue, Riverhead, NY 11901
      View Details
    • $3,990,000

      Riverhead Commercial Property For Sale

      Multi-unit commercial property in Long Island's North Fork wine corridor.
      3225 Sound Ave, Riverhead, NY 11901
      View Details
    • $1,650,000

      Turnkey Automotive Repair Business Included

      Established automotive repair business and property for sale in Riverhead.
      944 E Main Street, Riverhead, NY 11901
      View Details
    • $400,000

      Riverfront Commercial Land Opportunity

      1.5-acre commercial-zoned land parcel on the Peconic River.
      1011-1021 W Main Street, Riverhead, NY 11901
      View Details
    • $3,999,000

      Riverhead Commercial Property For Sale

      Multi-unit commercial property in Long Island's North Fork wine corridor.
      3225 Sound Avenue, Riverhead, NY 11901
      View Details
    • $715,000

      Riverhead Mixed-Use Building For Sale

      Two-story, 1,200 SF building on .26 acre in Riverhead.
      1161 West Main Street, Riverhead, NY 11901
      View Details
    • $959,000

      Victorian Multifamily with Flexible Zoning

      Two income-producing homes on a park-like site with DC-3 flexibility for residential and commercial options.
      761 E Main Street, Riverhead, NY 11901
      View Details
    • $750,000
      1,452 SF

      Medical/Office Building on Roanoke Avenue

      Professional building suitable for medical, wellness, or general office use.
      976 Roanoke Ave, Riverhead, NY 11901
      View Details
    • $1,250,000

      Colonial-Style Duplex with Parking

      Colonial duplex with two income-producing units, 8 bedrooms, and 4 bathrooms, set on 1.24 acres with off-street parking.
      250 Main Road, Riverhead, NY 11901
      View Details
    • $650,000
      2,437 SF

      Riverhead Office Building For Sale

      Two-story office building in downtown Riverhead with parking.
      211 Roanoke Ave, Riverhead, NY 11901
      View Details
    • $699,000

      Waterfront Land on Peconic River

      Waterfront land near 1 acre with 160' waterfront.
      37 Corwell Avenue, Riverhead, NY 11901
      View Details
    • $1,575,000
      3,446 SF

      Renovated Two-Unit Medical Office Building

      Renovated two-unit medical office building with strong income potential and 100% occupancy.
      1190 Old Country Rd, Riverhead, NY 11901
      View Details

    FAQs

    What type of property is this?
    Land - Land available on Sound Avenue, Riverhead.
    Where is this land located?
    The property is located at 3994 Sound Avenue Riverhead, NY.
    What is the asking price?
    The asking price for this property is $8,100,000.
    What are key features of this property?
    This property features: Panoramic view that will take your breath away.; Enjoy the calming water view.; Built in 2006.
    (631) 987-5833
    We can help!
    Listing Contact
    Mary C. Hartill
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3994 Sound Avenue, Riverhead, NY 11901
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!