Mixed-Use Property with Commercial
For Sale
$1,199,000
1612 Main Road, Riverhead, NY 11901
Pastry production and customer-facing retail areas support continued commercial operation.
Property Size2,595 SF
Price / SF$462.04
Days on Market175
Property Features for 1612 Main Road
General Information
Standard status
Active
Size
2,595 SF
Property subtype
Mixed Use
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$9,356
Amenities
Central Air
3
Parking.
5 Parking Spaces. Shared Driveway, Assigned Parking Space, Lot, On Street.
Hilly, Clear lot.
Building Details
Year Built
1910
Buildings
1
Listing Agency:
(516) 865-1800
Listed By:
Keller Williams Points North
(631) 512-6901
Source:
Xome
Added: Mar 19
Changed: Sep 8
Last Checked: Sep 8 at 9:20AM
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 Keller Williams Points North
Investment Insights
Based on property information with market context.
This mixed-use property at 1612 Main Rd includes a functioning pastry and commercial kitchen alongside a dedicated retail area. Kitchen improvements include grease traps, a three-tank cesspool system, ANSEL capability, stainless-steel prep tables, storage racks, freezers, commercial mixers, and an electric rack oven. The retail component features wood shelving, refrigerated cases, and dry display fixtures for product presentation. Gas service, upgraded electrical, and central air conditioning serve the lower level.
The upper level is currently used for storage and has existing permits and approved plans for additional space, with future commercial or potential residential use subject to local zoning. The property is situated in Riverhead on Long Island’s North Fork and includes space for parking, outdoor seating, or further expansion.
The upper level is currently used for storage and has existing permits and approved plans for additional space, with future commercial or potential residential use subject to local zoning. The property is situated in Riverhead on Long Island’s North Fork and includes space for parking, outdoor seating, or further expansion.
Key Highlights
- Functioning pastry and commercial kitchen with grease traps and ANSEL capability
- Three‑tank cesspool system, gas service, upgraded electrical, and central air conditioning
- Commercial equipment includes freezers, mixers, stainless‑steel prep tables, and an electric rack oven
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
$50,735
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
4.23%
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%
$1,014,700
$1.0M
Cap Rate 7%
$724,786
$724.8K
Cap Rate 9%
$563,722
$563.7K
Market Conditions
NOI Build-Up for 2,595 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
$77.9K $30.00/SF
− Vacancy
−$5.4K −$2.07/SF
EGI
$72.5K $27.93/SF
− OpEx
−$21.7K −$8.38/SF
NOI
$50.7K $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%
$1,014,700
Cap Rate 7%
$724,786
Cap Rate 9%
$563,722
Alternative Uses
Best Use
Retail
$724.8K
$634.2K – $845.6K
NOI $50,735 @ 7.0% cap · market cap 4.23%
Second Best
Specialty Retail
$674.0K
$589.8K – $786.4K
NOI $47,183 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$790.6K
$691.7K – $922.3K
NOI $55,339 @ 7.0% cap · market cap 4.62%
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
125
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Pastry production and customer-facing retail areas support continued commercial operation.
Where is this mixed-use property located?
The property is located at 1612 Main Road Riverhead, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Functioning pastry and commercial kitchen with grease traps and ANSEL capability; Three‑tank cesspool system, gas service, upgraded electrical, and central air conditioning; Commercial equipment includes freezers, mixers, stainless‑steel prep tables, and an electric rack oven
