Downtown Retail
For Sale
Contact for pricing
61 East Main Street, Riverhead, NY 11901
Single retail storefront totaling about 2,025 SF, fully occupied by Giacalone Insurance.
Property Size2,025 SF
Lot Size0.06 Acres
Price / SF$481.48
Days on Market74
Property Features for 61 East Main Street
General Information
Standard status
Active
Size
2,025 SF
Class
B
Lot size
0.06 Acres
Property subtype
Retail
Zoning
DC1
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Value Add
Building Details
Year Built
1960
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
Michael Tuccillo · License #NY 10401244358
(212) 430-5196
Source:
Crexi
Added: Jun 29
Changed: Sep 8
Last Checked: Sep 10 at 6:39AM
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.
A downtown retail storefront offered for sale at 61 East Main Street, consisting of approximately 2,025 SF on a 0.06-acre parcel. The property is currently 100% occupied by Giacalone Insurance, with the tenant operating at the location since 2006. Tenant responsibilities include CAM, utilities, trash removal, and repairs and maintenance.
The asset benefits from municipal parking at both the front and rear. It is positioned in Riverhead’s walkable downtown, supported by steady year-round foot traffic and a mix of local retailers, restaurants, service providers, and civic uses.
The listing presents an occupied retail investment within a district that is seeing reinvestment through new mixed-use and hospitality developments underway.
The asset benefits from municipal parking at both the front and rear. It is positioned in Riverhead’s walkable downtown, supported by steady year-round foot traffic and a mix of local retailers, restaurants, service providers, and civic uses.
The listing presents an occupied retail investment within a district that is seeing reinvestment through new mixed-use and hospitality developments underway.
Key Highlights
- Retail asset at 61 E Main Street built in 1960
- On a 0.06‑acre parcel with about 2,025 SF of retail space
- 100% occupied by Giacalone Insurance since 2006
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
$39,591
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
4.06%
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%
$791,820
$791.8K
Cap Rate 7%
$565,586
$565.6K
Cap Rate 9%
$439,900
$439.9K
Market Conditions
NOI Build-Up for 2,025 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
$60.8K $30.00/SF
− Vacancy
−$4.2K −$2.07/SF
EGI
$56.6K $27.93/SF
− OpEx
−$17.0K −$8.38/SF
NOI
$39.6K $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%
$791,820
Cap Rate 7%
$565,586
Cap Rate 9%
$439,900
Alternative Uses
Best Use
Retail
$565.6K
$494.9K – $659.9K
NOI $39,591 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$616.9K
$539.8K – $719.7K
NOI $43,184 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,426
Businesses Nearby
55k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 39%
Home Improvements & Furnishings 5%
Hotels & Casinos 2%
McDonald's
Dining
20,381 visits/mo
0.1 miles
7-Eleven
Shops & Services
7,782 visits/mo
0.4 miles
Shell
Shops & Services
7,092 visits/mo
0.2 miles
Chase Bank
Shops & Services
6,933 visits/mo
0.1 miles
76
Shops & Services
3,291 visits/mo
0.2 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Single retail storefront totaling about 2,025 SF, fully occupied by Giacalone Insurance.
Where is this storefront property located?
The property is located at 61 East Main Street Riverhead, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Retail asset at 61 E Main Street built in 1960; On a 0.06‑acre parcel with about 2,025 SF of retail space; 100% occupied by Giacalone Insurance since 2006
