Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    221 David Ct Riverhead, NY 11933

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Spacious Suffolk County Office, 37,000 SF Available

    Lot size:
    74,000 SF

    Property Features for 221 David Ct

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    74,000 SF
    Total Rate
    111000

    Spaces For Lease

    at 221 David Ct, Riverhead, NY 11933 Contact us
    Unit Entire 2nd Floor

    $18 /Mo

    Size
    37,000 SF
    Contact us

    We can help!

    Listing Contact
    Nicholas Romano
    Nicholas Romano

    Listing Agency: Metro Realty Services LLC Listing Agent: Nicholas Romano

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional executive office space, located at 221 David Court in Suffolk County, offers a substantial 37,000 square feet of immediately available space within a larger 74,000 square foot building. The property sits on a generous 14-acre lot and boasts 300 parking spaces, ensuring ample convenience for employees and clients. The building is equipped for heavy power demands, making it suitable for a wide range of businesses. The current asking price includes HVAC and electric, minimizing operational costs. This impressive space is highly divisible, with the possibility of creating units as small as 10,000 square feet, offering flexibility for businesses of various sizes. The entire second floor is currently available for lease. Property taxes are a competitive $2 per square foot. The building's multiple tenancy structure provides a vibrant and collaborative environment. This prime location and versatile space present a unique opportunity for businesses seeking a modern and efficient workspace in Suffolk County. The property is currently listed for lease and offers a significant opportunity for a company seeking to establish or expand its presence in the area. Contact us today to schedule a viewing and explore the possibilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Auto Repair Shop Building Supply Department Store Kitchen & Bath Showroom Food Market Storage Facility Grocery & Convenience Store Grocery & Convenience Store Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Riverhead
    County
    Suffolk
    State
    New York
    Longitude
    -72.7907069
    Latitude
    40.9151987

    Nearby Similar for Lease

    • $2,500 /Mo

      Downtown Riverhead Office/Storefront Space

      676 sq ft office/storefront in downtown Riverhead, NY.
      131 Roanoke Ave, Riverhead, NY 11901
      View Details
    • $3,250 /Mo

      Riverhead Commercial Space For Lease

      Spacious ground floor space in Riverhead with high ceilings.
      42 W Main St, Riverhead, NY 11901
      View Details
    • $8,400 /Mo
      5,600 SF

      Charming Office in Landmark Location

      Impressive office space with historic charm in Riverhead, NY.
      206 Roanoke Ave, Riverhead, NY 11901
      View Details
    • $2,200 /Mo
      15,682 SF

      Downtown Riverhead Commercial Space Available

      Prime 800 sq ft commercial space in vibrant downtown Riverhead.
      331 E Main St, Riverhead, NY 11901
      View Details
    • $5,000 /Mo
      76,230 SF

      Riverhead Commercial Space For Lease

      2,960 SF commercial building in busy mixed-use complex.
      3225 Sound Ave, Riverhead, NY 11901
      View Details
    • $5,000 /Mo
      76,230 SF

      Riverhead Commercial Building For Lease

      2,960 SF commercial building in busy mixed-use complex.
      3225 Sound Ave, Riverhead, NY 11901
      View Details
    • $2,995 /Mo
      2,707 SF

      Riverhead Office Space For Rent

      Office space available in Riverhead, ready for October 1st.
      201 Howell Ave, Riverhead, NY 11901
      View Details
    • $2,750 /Mo

      Retail Space on Old Country

      Retail space on Old Country Road with high visibility.
      833 Old Country Rd, Riverhead, NY 11901
      View Details
    • Contact for pricing
      2,970 SF

      Riverhead Plaza Retail Space

      2,970 SF retail space in Riverhead Plaza available for lease.
      655 Old Country Rd, Riverhead, NY 11901
      View Details
    • $22 SF/Yr
      45,000 SF

      Riverhead Retail Space Available

      Former 'Big Lots' box in a fully occupied shopping center.
      1087-1101 Old Country Rd, Riverhead, NY 11901
      View Details
    • $39 SF/Yr

      Riverhead Office Space For Lease

      Office space for lease in a busy Riverhead shopping center.
      180 Old Country Rd, Riverhead, NY 11901
      View Details
    • $4,500 /Mo

      Riverhead Commercial Space Available

      Commercial space for rent in Riverhead with ample parking.
      C Undisclosed St, Riverhead, NY 11901
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Spacious Suffolk County Office, 37,000 SF Available
    Where is this office property / space located?
    The property is located at 221 David Ct Riverhead, NY.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 74,000 SF office building in Suffolk County.; 37,000 SF of vacant space available for lease.; Divisible to 10,000 SF units.
    (631) 770-0700 Call to check price and availability
    Request Owner's contact information
    221 David Ct Riverhead, NY 11933
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    221 David Ct
    Riverhead, NY 11933
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    221 David Ct Riverhead, NY 11933
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Nicholas Romano
    Nicholas Romano
    (631) 770-0700
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!