Office Complex with
For Sale
$5,250,000
526 E Main Street #518, Riverhead, NY 11901
Fully leased professional office property comprising multiple buildings with convenient on-site parking.
Property Size16,460 SF
Days on Market27
Property Features for 526 E Main Street #518
General Information
Standard status
Active
Size
16,460 SF
Total Parking Spaces
95
Property subtype
Commercial
Zoning
DC-4
Occupancy
100%
Additional Details
Office Units
7
Taxes and HOA fees
Annual Taxes
$62,173
Building Details
Building Size
16,460 SF
Year Built
1978
Buildings
3
Stories
1
Units
7
Tenancy
Multi
Listing Agency:
Richmond Realty Corp
(631) 727-5500
Listed By:
Isaac D. Israel
(631) 727-5500
Source:
Cohenandcohenrealty
Added: Jul 29
Changed: Aug 23
Last Checked: Aug 23 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 Richmond Realty Corp
Investment Insights
Based on property information with market context.
This office complex includes 3 buildings, 7 units, and 95 parking spaces. Built in 1978, the property is fully leased and configured for professional office occupancy, with established long-term tenants in place.
The complex sits in Downtown Riverhead directly across from the Long Island Aquarium and Hyatt Place. Restaurants, breweries, theaters, marinas, hotels, and shopping centers are accessible from the property, supporting a walkable setting for office users and visitors.
The complex sits in Downtown Riverhead directly across from the Long Island Aquarium and Hyatt Place. Restaurants, breweries, theaters, marinas, hotels, and shopping centers are accessible from the property, supporting a walkable setting for office users and visitors.
Key Highlights
- 3‑building office complex with 7 units
- 95 on‑site parking spaces
- Fully leased to long‑term tenants
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
$283,036
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
5.39%
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%
$5,660,720
$5.7M
Cap Rate 7%
$4,043,371
$4.0M
Cap Rate 9%
$3,144,844
$3.1M
Market Conditions
NOI Build-Up for 16,460 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
$460.2K $27.96/SF
− Vacancy
−$82.8K −$5.03/SF
EGI
$377.4K $22.93/SF
− OpEx
−$94.3K −$5.73/SF
NOI
$283.0K $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%
$5,660,720
Cap Rate 7%
$4,043,371
Cap Rate 9%
$3,144,844
Alternative Uses
Best Use
Office B
$4.04M
$3.54M – $4.72M
NOI $283,036 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.01M
$4.39M – $5.85M
NOI $351,014 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,333
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 - Fully leased professional office property comprising multiple buildings with convenient on-site parking.
Where is this office building located?
The property is located at 526 E Main Street #518 Riverhead, NY.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: 3‑building office complex with 7 units; 95 on‑site parking spaces; Fully leased to long‑term tenants
