Restaurant and Brewery Mixed-Use
For Sale
$2,995,000
72 W Main St, Riverhead, NY 11901
Three included units with separate utilities and DC-1 zoning, plus patio, support restaurant, brewery, and flex second-floor use.
Property Size11,500 SF
Price / SF$259.08
Days on Market50
Property Features for 72 W Main St
General Information
Standard status
Active
Size
11,500 SF
Property subtype
Commercial
Zoning
DC-1
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$25,936
Building Details
Building Size
11,500 SF
Year Built
1920
Stories
1
Units
3
Listing Agency:
Richmond Realty Corp
(631) 727-5500
Listed By:
Isaac D. Israel · License #1026918
(631) 727-5500
Source:
Elliman
Added: Jun 23
Changed: Aug 10
Last Checked: Aug 10 at 6:12AM
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.
The sale includes three separate units under one offering: a restaurant space of approximately 5,400 SF, a brewery next door of approximately 1,660 SF, and a multipurpose second-floor space of approximately 4,500 SF. The property also includes usable outdoor patio space. The restaurant is offered fully furnished, with equipment paid off, and the brewery is also fully equipped. Each unit has its own electric meter and water bill.
The property is located in the heart of downtown Riverhead and is currently zoned DC-1. Municipal parking is available, supporting convenient customer access for multi-concept use. Bike and walk scores indicate a car-dependent setting with some bicycling support.
This configuration is well suited to an operator looking to run a restaurant and brewery in a single consolidated footprint, while keeping the additional second-floor multipurpose space available for complementary uses. Separate metering and water billing can simplify day-to-day operating considerations across the three units. Please do not disturb current occupants; schedule a showing for details on the current setup and included improvements.
The property is located in the heart of downtown Riverhead and is currently zoned DC-1. Municipal parking is available, supporting convenient customer access for multi-concept use. Bike and walk scores indicate a car-dependent setting with some bicycling support.
This configuration is well suited to an operator looking to run a restaurant and brewery in a single consolidated footprint, while keeping the additional second-floor multipurpose space available for complementary uses. Separate metering and water billing can simplify day-to-day operating considerations across the three units. Please do not disturb current occupants; schedule a showing for details on the current setup and included improvements.
Key Highlights
- Three separate units included in the sale: restaurant (~5,400 SF), brewery (~1,660 SF), and 2nd‑floor multipurpose space (~4,500 SF).
- DC‑1 zoning for the property units, with municipal parking available nearby.
- Each unit has its own electric meter and water bill.
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
$210,189
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
7.02%
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%
$4,203,780
$4.2M
Cap Rate 7%
$3,002,700
$3.0M
Cap Rate 9%
$2,335,433
$2.3M
Market Conditions
NOI Build-Up for 11,560 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
$301.0K $26.04/SF
− Vacancy
−$20.8K −$1.80/SF
EGI
$280.3K $24.24/SF
− OpEx
−$70.1K −$6.06/SF
NOI
$210.2K $18.18/SF
Area
Suffolk County, NY
Vacancy
6.90%
Lease Rate
$26.04 /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%
$4,203,780
Cap Rate 7%
$3,002,700
Cap Rate 9%
$2,335,433
Alternative Uses
Best Use
Specialty Retail
$3.00M
$2.63M – $3.50M
NOI $210,189 @ 7.0% cap · market cap 7.02%
Second Best
Industrial
$2.34M
$2.05M – $2.74M
NOI $164,125 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$3.52M
$3.08M – $4.11M
NOI $246,520 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,383
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
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Three included units with separate utilities and DC-1 zoning, plus patio, support restaurant, brewery, and flex second-floor use.
Where is this conventional restaurant located?
The property is located at 72 W Main St Riverhead, NY.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Three separate units included in the sale: restaurant (~5,400 SF), brewery (~1,660 SF), and 2nd‑floor multipurpose space (~4,500 SF).; DC‑1 zoning for the property units, with municipal parking available nearby.; Each unit has its own electric meter and water bill.
