Office Building with Private
New
For Sale
$1,400,000
225 Howell Avenue, Riverhead, NY 11901
Commercial Sale, Riverhead, NY
Property Size5,000 SF
Lot Size0.61 Acres
Price / SF$280
Days on Market2
Property Features for 225 Howell Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
3
Rooms
Basement
Parking
20
Parking features
Off Street, Parking Lot
Security features
Security System
Fencing
Chain Link
Basement
Partially Finished, Storage Space, Crawl Space, Full, Partial
Accessibility
Accessible Approach with Ramp
Appliances
Cooktop, Microwave, Refrigerator
Elementary school district
Riverhead
Middle school district
Riverhead
High school district
Riverhead
Standard status
Active
APN
0600-127-00-04-00-038-001
Lot size
0.61 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
29129
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
conference room
full kitchen
Building Details
Year built
1962
Floors in Building
1
Flooring type
Carpet
Building materials
Brick
Listing Agency:
Douglas Elliman Real Estate
(631) 723-2721
Listed By:
Michael Luce · License #10401327561
(631) 381-5826
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 11:06AM
MLS# 1046237
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office building on 0.61 acres provides a practical mix of enclosed and shared workspace. The interior includes eight private offices, an open central area arranged with cubicles, a conference room, and a full kitchen. A basement adds additional property functionality. Brick construction, carpeted flooring, forced-air heating, and central air conditioning are in place.
The property is located at 225 Howell Avenue in Riverhead, within Suffolk County and postal code 11901. On-site parking includes twenty plus spaces, with both off-street and parking-lot parking features. The site also includes an accessible approach with ramp, chain-link fencing, public water, and public sewer. Built in 1962, the building is suited to office and professional operations requiring a combination of private rooms, open workstations, meeting space, and staff amenities.
The property is located at 225 Howell Avenue in Riverhead, within Suffolk County and postal code 11901. On-site parking includes twenty plus spaces, with both off-street and parking-lot parking features. The site also includes an accessible approach with ramp, chain-link fencing, public water, and public sewer. Built in 1962, the building is suited to office and professional operations requiring a combination of private rooms, open workstations, meeting space, and staff amenities.
Key Highlights
- Eight private offices plus an open cubicle area
- Conference room and full kitchen
- Twenty plus on‑site parking spots
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
$85,977
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
6.14%
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%
$1,719,540
$1.7M
Cap Rate 7%
$1,228,243
$1.2M
Cap Rate 9%
$955,300
$955.3K
Market Conditions
NOI Build-Up for 5,000 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
$139.8K $27.96/SF
− Vacancy
−$25.2K −$5.03/SF
EGI
$114.6K $22.93/SF
− OpEx
−$28.7K −$5.73/SF
NOI
$86.0K $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%
$1,719,540
Cap Rate 7%
$1,228,243
Cap Rate 9%
$955,300
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,977 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,626 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,059
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 - Flexible professional workspace combines enclosed offices, collaborative areas, a conference room, kitchen, and on-site parking.
Where is this office building located?
The property is located at 225 Howell Avenue Riverhead, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Eight private offices plus an open cubicle area; Conference room and full kitchen; Twenty plus on‑site parking spots
