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    89 Peconic Ave Riverhead, NY 11901

    Sponsored
    For Sale
    $1,500,000

    Prime 1-acre retail site, 4,000 sq ft.

    Property size:
    4,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1-acre commercial property at 89 Peconic Avenue in Riverhead, NY (zip code 11901), presents a unique redevelopment opportunity. The site boasts 4,000 square feet of buildable space and is zoned HB + ROD, allowing for a variety of commercial uses. Preliminary site plan approval is already in place for the construction of a 4,000 square foot restaurant featuring a rooftop bar and canoe rental business, making this an ideal investment for an experienced developer or restaurateur. The property enjoys a prominent 160-foot frontage on Peconic Avenue with three convenient curb cuts, ensuring excellent visibility and accessibility. The lot size is one acre, providing ample space for the proposed development and potential future expansion. Annual property taxes are $5,600. A significant financial incentive is available to prospective buyers: a $500,000 development grant offered through the New York State Development Corporation and the Town of Southampton. This grant significantly reduces the financial burden and accelerates the return on investment. This is a rare chance to acquire a prime commercial property in a desirable location with substantial development potential and attractive financial support. Don't miss this opportunity to capitalize on this exceptional offering.

    Property Features for 89 Peconic Ave

    General Information

    Property type
    Restaurants
    Square Feet
    4,000 SF
    Lot Size
    43,560 SF

    HighLights

    • One‑acre lot
    • Asking price: $1,500,000
    • Annual property taxes: $5,600
    • HB + Rod zoning
    Property Profile Location Intelligence

    Current Use by Public Records

    Spanish Fast Food ... Restaurant Peconic Paddler LI Canoe & Kayak Rental Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing 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
    -72.6630445
    Latitude
    40.9156541

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    FAQs

    What type of property is this?
    Restaurant - Prime 1-acre retail site, 4,000 sq ft.
    Where is this restaurant located?
    The property is located at 89 Peconic Ave Riverhead, NY.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: One-acre lot; Asking price: $1,500,000; Annual property taxes: $5,600
    Request Owner's contact information
    89 Peconic Ave Riverhead, NY 11901
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    Realmo Value Estimation

    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.

    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.

    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
    89 Peconic Ave Riverhead, NY 11901
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