Mixed-Use Retail and Office
For Sale
Contact for pricing
53 East Main Street, Riverhead, NY 11901
Three ground-floor retail spaces with second-floor office space in walkable downtown Riverhead.
Property Size13,997 SF
Lot Size0.07 Acres
Price / SF$217.19
Days on Market69
Property Features for 53 East Main Street
General Information
Standard status
Active
Size
13,997 SF
Class
B
Lot size
0.07 Acres
Property subtype
Retail, Office, Mixed Use
Zoning
DC-1
Building Details
Year Built
1910
Stories
2
Listing Agency:
Marcus & Millichap - Manhattan
(212) 430-5196
Listed By:
Michael Tuccillo · License #NY 10401244358
Source:
Crexi
Added: Jun 2
Changed: Aug 8
Last Checked: Jun 6 at 5:16AM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
The property is a mixed-use building on a small parcel, featuring three ground-floor retail spaces and office space on the second floor. This layout supports multiple tenant types within the same structure and provides a straightforward separation between street-level retail activity and upper-level office use.
Located within Riverhead’s walkable downtown, the building benefits from an established mix of local retailers, restaurants, service providers, and civic uses. The configuration is designed for immediate street-level presence for retail tenants and convenient access for office tenants who want to remain in the downtown core.
For buyers or operators, the asset offers a practical combination of retail and office income streams through distinct spaces. Retail tenants can take advantage of direct ground-floor frontage, while the second-floor office component can serve professional users seeking nearby commercial services. The downtown positioning and multi-tenant setup make it well-suited for owners looking for a diversified commercial property within a central business environment.
Located within Riverhead’s walkable downtown, the building benefits from an established mix of local retailers, restaurants, service providers, and civic uses. The configuration is designed for immediate street-level presence for retail tenants and convenient access for office tenants who want to remain in the downtown core.
For buyers or operators, the asset offers a practical combination of retail and office income streams through distinct spaces. Retail tenants can take advantage of direct ground-floor frontage, while the second-floor office component can serve professional users seeking nearby commercial services. The downtown positioning and multi-tenant setup make it well-suited for owners looking for a diversified commercial property within a central business environment.
Key Highlights
- 3 ground‑floor retail spaces with second‑floor office space
- Located on a 0.07‑acre parcel with approximately +/- 13,997 SF of space
- Year built: 1910
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
$273,655
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
9.00%
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%
$5,473,100
$5.5M
Cap Rate 7%
$3,909,357
$3.9M
Cap Rate 9%
$3,040,611
$3.0M
Market Conditions
NOI Build-Up for 13,997 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
$419.9K $30.00/SF
− Vacancy
−$29.0K −$2.07/SF
EGI
$390.9K $27.93/SF
− OpEx
−$117.3K −$8.38/SF
NOI
$273.7K $19.55/SF
Area
Suffolk County, NY
Vacancy
6.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$5,473,100
Cap Rate 7%
$3,909,357
Cap Rate 9%
$3,040,611
Alternative Uses
Best Use
Retail
$3.91M
$3.42M – $4.56M
NOI $273,655 @ 7.0% cap · market cap 9.00%
Second Best
Mixed Use
$3.56M
$3.11M – $4.15M
NOI $249,175 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$4.26M
$3.73M – $4.97M
NOI $298,489 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,426
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?
Mixed-use property - Three ground-floor retail spaces with second-floor office space in walkable downtown Riverhead.
Where is this mixed-use property located?
The property is located at 53 East Main Street Riverhead, NY.
What is the asking price?
The asking price for this property is $3,040,000.
What are key features of this property?
This property features: 3 ground‑floor retail spaces with second‑floor office space; Located on a 0.07‑acre parcel with approximately +/- 13,997 SF of space; Year built: 1910
