Senior Housing Retirement
For Sale
$6,495,000
33 W 2nd Street, Riverhead, NY 11901
For sale senior housing/retirement facility in Suffolk County, NY.
Property Size26,235 SF
Days on Market162
Property Features for 33 W 2nd Street
General Information
Standard status
Active
Size
26,235 SF
Taxes and HOA fees
Annual Taxes
$43,972
Amenities
Central Air
Finished, Full, Storage Space
Dishwasher, Oven, Refrigerator
On Street
Building Details
Building Size
26,235 SF
Year Built
1920
Buildings
1
Stories
2
Listing Agency:
Compass
(631) 480-5225
Listed By:
Sean E. Deery · License #10401366519
(631) 480-5225
Source:
Evrealestate
Added: Mar 18
Changed: Aug 14
Last Checked: Aug 26 at 6:25AM
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 Compass
Investment Insights
Based on property information with market context.
This property is a senior housing and retirement facility offered for sale. It is categorized as a healthcare-related senior housing asset.
The property is located in Suffolk County, New York. The street address is 33 W 2nd Street, Riverhead, NY 11901.
The property is located in Suffolk County, New York. The street address is 33 W 2nd Street, Riverhead, NY 11901.
Key Highlights
- Central air cooling
- Finished, full basement with storage space
- Kitchen appliances included: dishwasher, oven, and refrigerator
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
$466,261
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
7.18%
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%
$9,325,220
$9.3M
Cap Rate 7%
$6,660,871
$6.7M
Cap Rate 9%
$5,180,678
$5.2M
Market Conditions
NOI Build-Up for 26,235 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
$906.7K $34.56/SF
− Vacancy
−$58.9K −$2.25/SF
EGI
$847.7K $32.31/SF
− OpEx
−$381.5K −$14.54/SF
NOI
$466.3K $17.77/SF
Area
Suffolk County, NY
Vacancy
6.50%
Lease Rate
$34.56 /SF/Yr
Expense Ratio
45.00%
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%
$9,325,220
Cap Rate 7%
$6,660,871
Cap Rate 9%
$5,180,678
Alternative Uses
Best Use
Apartment 5plus
$6.66M
$5.83M – $7.77M
NOI $466,261 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.99M
$6.99M – $9.32M
NOI $559,468 @ 7.0% cap · market cap 8.61%
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
Under-served
Demand for This Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Senior housing / Retirement Home - For sale senior housing/retirement facility in Suffolk County, NY.
Where is this senior housing / retirement home located?
The property is located at 33 W 2nd Street Riverhead, NY.
What is the asking price?
The asking price for this property is $6,495,000.
What are key features of this property?
This property features: Central air cooling; Finished, full basement with storage space; Kitchen appliances included: dishwasher, oven, and refrigerator
