Renovated Mixed-Use
New
For Sale
$825,000
1550 Main Rd, Riverhead, NY 11901
Renovated storefront and residence offer a flexible live-work configuration with private parking and unfinished expansion areas.
Property Size1,764 SF
Lot Size0.14 Acres
Days on Market5
Property Features for 1550 Main Rd
General Information
Standard status
Active
Size
1,764 SF
Lot size
0.14 Acres
Property subtype
Investment
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$9,793
Amenities
public water
cesspool
rear yard access
private driveway
on-site parking
Building Details
Building Size
1,764 SF
Year Built
1949
Buildings
1
Units
2
Listing Agency:
First Hampton International Realty
(631) 655-3386
Listed By:
Tyus Gholson
(631) 655-3386
Source:
Elliman
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 6 at 4:19AM
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 First Hampton International Realty
Investment Insights
Based on property information with market context.
This renovated mixed-use property combines a storefront or gallery area with an attached residential component. The home is arranged as a two-bedroom, one-bath residence, while additional unfinished space includes a second-floor loft, basement, and rear outdoor area. The loft may support future living, studio, or office space subject to buyer plans and approvals. Public water, a cesspool, rear yard access, a private driveway, and on-site parking are included.
The property occupies a 6,246 SF lot along Main Road, providing direct road exposure and an open setting beside Town-owned protected land to the west. Its commercial and residential components support owner-user, live-work, retail, gallery, office, wellness, and other mixed-use concepts, subject to applicable approvals. Built in 1949, the property offers an existing structure with multiple areas for continued use or future adaptation.
The property occupies a 6,246 SF lot along Main Road, providing direct road exposure and an open setting beside Town-owned protected land to the west. Its commercial and residential components support owner-user, live-work, retail, gallery, office, wellness, and other mixed-use concepts, subject to applicable approvals. Built in 1949, the property offers an existing structure with multiple areas for continued use or future adaptation.
Key Highlights
- Mixed‑use building with storefront/gallery and residential components
- Residential portion currently configured as 2 bedrooms and 1 bath
- Unfinished second‑floor loft, basement, and rear outdoor area
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
$34,488
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
4.18%
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%
$689,760
$689.8K
Cap Rate 7%
$492,686
$492.7K
Cap Rate 9%
$383,200
$383.2K
Market Conditions
NOI Build-Up for 1,764 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
$52.9K $30.00/SF
− Vacancy
−$3.7K −$2.07/SF
EGI
$49.3K $27.93/SF
− OpEx
−$14.8K −$8.38/SF
NOI
$34.5K $19.55/SF
Area
Suffolk County, NY
Vacancy
6.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$689,760
Cap Rate 7%
$492,686
Cap Rate 9%
$383,200
Alternative Uses
Best Use
Retail
$492.7K
$431.1K – $574.8K
NOI $34,488 @ 7.0% cap · market cap 4.18%
Second Best
Mixed Use
$448.6K
$392.5K – $523.4K
NOI $31,403 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$537.4K
$470.2K – $627.0K
NOI $37,618 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
358
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?
Mixed-use property - Renovated storefront and residence offer a flexible live-work configuration with private parking and unfinished expansion areas.
Where is this mixed-use property located?
The property is located at 1550 Main Rd Riverhead, NY.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Mixed‑use building with storefront/gallery and residential components; Residential portion currently configured as 2 bedrooms and 1 bath; Unfinished second‑floor loft, basement, and rear outdoor area
