Riverhead Office Building For
For Sale
$650,000
211 Roanoke Avenue, Riverhead, NY 11901
Two-story office building in downtown Riverhead with parking.
Property Size2,437 SF
Lot Size0.14 Acres
Price / SF$266.72
Days on Market130
Property Features for 211 Roanoke Avenue
General Information
Standard status
Active
Size
2,437 SF
Class
A
Total Parking Spaces
8
Lot size
0.14 Acres
Property subtype
Commercial
Zoning
DC-3
Taxes and HOA fees
Annual Taxes
$14,702
Building Details
Building Size
2,437 SF
Buildings
1
Stories
2
Units
1
Listing Agency:
Richmond Realty Corp
(631) 727-5500
Listed By:
Isaac D. Israel · License #1026918
(631) 727-5500
Source:
Cohenandcohenrealty
Added: Apr 17
Changed: Aug 23
Last Checked: Aug 23 at 8:59AM
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-story office building features 1,419 square feet on the first floor and 1,018 square feet on the second floor. The property is situated on 0.14 acres in Riverhead, New York, and is located in close proximity to Main Street in downtown Riverhead. The building includes eight private parking spaces, with additional on-street and municipal parking available across the street. It is serviced by public sewer and water, natural gas, and has two electric meters. The property is zoned as Downtown Center (DC-3), allowing for a variety of uses.
Key Highlights
- Prime Riverhead real estate location.
- Zoned Downtown Center (DC‑3) allowing for many uses.
- 8 private parking spaces** plus on‑street and municipal parking.
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
Location Intelligence
Trade Area within ½ mile
1,392
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 - Two-story office building in downtown Riverhead with parking.
Where is this office building located?
The property is located at 211 Roanoke Avenue 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: Prime Riverhead real estate location.; Zoned Downtown Center (DC‑3) allowing for many uses.; 8 private parking spaces** plus on‑street and municipal parking.
