Two-Story Office
For Sale
$650,000
1465 ROANOKE AVE, Riverhead, NY 11901
Downtown commercial setting with private parking, public utilities, and DC-3 zoning.
Property Size2,437 SF
Lot Size0.14 Acres
Price / SF$266.72
Days on Market147
Property Features for 1465 ROANOKE AVE
General Information
Standard status
Active
Size
2,437 SF
Total Parking Spaces
8
Lot size
0.14 Acres
Property subtype
Mixed Use
Zoning
DC-3
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$14,702
Amenities
Window/Wall Unit
3
Parking.
8 Parking Spaces. Private, Driveway, On Street, Off Street.
Building Details
Buildings
1
Stories
2
Listing Agency:
Richmond Realty Corp
(631) 902-5202
Listed By:
Isaac Israel · License #991829
(631) 902-5202
Source:
Xome
Added: Apr 7
Changed: Aug 31
Last Checked: Aug 31 at 1:34AM
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 Richmond Realty Corp
Investment Insights
Based on property information with market context.
This two-level office property contains 2,437 SF, with 1,419 SF on the first floor and 1,018 SF upstairs. The building is supported by public sewer and water, natural gas, and separate electric meters. Window/wall unit climate equipment is noted in the interior features.
The property occupies 0.14 acres at 1465 Roanoke Ave in Riverhead, near Main Street in downtown Riverhead. Parking includes eight private spaces, supplemented by on-street and municipal parking across the street.
The site is zoned Downtown Center (DC-3), with multiple uses allowed under the stated zoning designation. Its two-story layout and central Riverhead setting provide a defined office configuration for an owner-user or commercial occupant.
The property occupies 0.14 acres at 1465 Roanoke Ave in Riverhead, near Main Street in downtown Riverhead. Parking includes eight private spaces, supplemented by on-street and municipal parking across the street.
The site is zoned Downtown Center (DC-3), with multiple uses allowed under the stated zoning designation. Its two-story layout and central Riverhead setting provide a defined office configuration for an owner-user or commercial occupant.
Key Highlights
- 2,437 SF office building with 1,419 SF on the first floor and 1,018 SF upstairs
- 0.14‑acre property at 1465 Roanoke Ave, Riverhead, NY 11901
- Eight private parking spaces plus on‑street and municipal parking across the street
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
$41,905
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
6.45%
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%
$838,100
$838.1K
Cap Rate 7%
$598,643
$598.6K
Cap Rate 9%
$465,611
$465.6K
Market Conditions
NOI Build-Up for 2,437 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
$68.1K $27.96/SF
− Vacancy
−$12.3K −$5.03/SF
EGI
$55.9K $22.93/SF
− OpEx
−$14.0K −$5.73/SF
NOI
$41.9K $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%
$838,100
Cap Rate 7%
$598,643
Cap Rate 9%
$465,611
Alternative Uses
Best Use
Office B
$598.6K
$523.8K – $698.4K
NOI $41,905 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$742.4K
$649.6K – $866.2K
NOI $51,970 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
600
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Downtown commercial setting with private parking, public utilities, and DC-3 zoning.
Where is this office building located?
The property is located at 1465 ROANOKE AVE Riverhead, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,437 SF office building with 1,419 SF on the first floor and 1,018 SF upstairs; 0.14‑acre property at 1465 Roanoke Ave, Riverhead, NY 11901; Eight private parking spaces plus on‑street and municipal parking across the street
