7-Unit Office
For Sale
$5,250,000
526 E Main Street 518, Riverhead, NY 11901
Three buildings provide office space with 95 parking spaces and DC-4 zoning.
Property Size16,460 SF
Price / SF$318.96
Days on Market9
Property Features for 526 E Main Street 518
General Information
Standard status
Active
Size
16,460 SF
Total Parking Spaces
95
Zoning
DC-4
Occupancy
100%
Additional Details
Office Units
7
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$62,173
Amenities
1
No
Public
95
Off Street, Parking Lot, Private
16460
Building Details
Building Size
16,460 SF
Year Built
1978
Buildings
3
Stories
1
Tenancy
Multi
Listing Agency:
(516) 703-2918
Listed By:
Hassan Mahmood
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:31PM
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 Hassan Mahmood
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 16,460-SF office property comprises three buildings and seven units. Built in 1978, the complex is fully leased and includes 95 parking spaces. The property is zoned DC-4.
The site is across the street from the Long Island Aquarium and Hyatt Place in Downtown Riverhead. Restaurants, breweries, theaters, marinas, hotels, and shopping centers are also accessible from the area.
The site is across the street from the Long Island Aquarium and Hyatt Place in Downtown Riverhead. Restaurants, breweries, theaters, marinas, hotels, and shopping centers are also accessible from the area.
Key Highlights
- Three office buildings with 7 units across 16,460 SF
- Fully leased office complex
- 95 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$283,036
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
Frequently Asked Questions
What type of property is this?
Office building - Three buildings provide office space with 95 parking spaces and DC-4 zoning.
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: Three office buildings with 7 units across 16,460 SF; Fully leased office complex; 95 parking spaces
