Downtown Office Building with Egress
33 W 2nd St Riverhead, NY 11901
33 W 2nd St, Riverhead, NY, 11901
$6,950,000
For Sale
$6,950,000
COMMERCIAL - Riverhead, NY
Property Size26,235 SF
Lot Size0.32 Acres
Price / SF$264.91
Days on Market540
Property Features for 33 W 2nd St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 5
- Rooms
- Bathroom 5, Bathroom 4, Bathroom 3, Bathroom 2, Bathroom 1
- Patio and Porch features
- Patio, Deck
- Standard status
- Active
- APN
- 0600-128.000-0006-003.001
- Size
- 26,235 SF
- Lot size
- 0.32 Acres
Building Details
- Floors in Building
- 2
Listing Agency
Compass
(212) 913-9058
63 Main Street, New York, NY
Listed by
Hal Zwick · License #40ZW1016031
(212) 913-9058
Added: Jan 25, 2025 Checked: Jul 19 at 6:06 am
MLS# 11415104
Copyright © 2026 My State 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 26,235-square-foot office building has been expanded over time and is currently operated as a single-tenant facility. The layout includes private offices, conference rooms, kitchens, waiting areas, foyers, and open workspaces across the first floor and two second-floor wings. A full egress basement provides additional office and storage, archives, mechanical space, and an additional kitchen.
The property features elevator access and sprinkler protection. The listing is presented as an NNN investment sale with a credit tenant in place under a new 10-year NNN lease, with NNN expenses covered by the tenant.
The building is situated in downtown Riverhead on 0.32 acres directly across from Town Hall, one block from Main Street, and half a block from the Suffolk County Supreme Court. Two separate tax parcels are noted, offering potential long-term flexibility if multi-tenant use is desired.
The property features elevator access and sprinkler protection. The listing is presented as an NNN investment sale with a credit tenant in place under a new 10-year NNN lease, with NNN expenses covered by the tenant.
The building is situated in downtown Riverhead on 0.32 acres directly across from Town Hall, one block from Main Street, and half a block from the Suffolk County Supreme Court. Two separate tax parcels are noted, offering potential long-term flexibility if multi-tenant use is desired.
Key Highlights
- 26,235 SF office building in a stabilized NNN sale‑leaseback with credit tenant under a new 10‑year NNN lease
- Approx. 8 CAP yield profile (as described) with full NNN expense coverage by the tenant
- 0.32‑acre site in downtown Riverhead, directly across from Town Hall; one block from Main Street; half a block from Suffolk County Supreme Court
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $733.5k | $27.96 |
| − Vacancy | −$132.0k | −$5.03 |
| EGI | $601.5k | $22.93 |
| − OpEx | −$150.4k | −$5.73 |
| NOI | $451.1k | $17.20 |
26,235 SF · lease $27.96/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.44M
$5.64M – $7.52M
NOI $451,121 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.99M
$6.99M – $9.32M
NOI $559,468 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dubin M. David
Law Firm
Mott Peter M
Law Firm
Janice L. Snead
Law Firm
Twomey, Latham, Shea, ...
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FAQs
What type of property is this?
Office building - 26,235 SF office building arranged with private offices, open workspaces, and a full egress basement.
Where is this office building located?
The property is located at 33 W 2nd St Riverhead, NY.
What is the asking price?
The asking price for this property is $6,950,000.
What are key features of this property?
This property features: 26,235 SF office building in a stabilized NNN sale‑leaseback with credit tenant under a new 10‑year NNN lease; Approx. 8 CAP yield profile (as described) with full NNN expense coverage by the tenant; 0.32‑acre site in downtown Riverhead, directly across from Town Hall; one block from Main Street; half a block from Suffolk County Supreme Court
