Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    1241 Old Country Rd Riverhead, NY 11901-2023

    • Investment properties
    • 6,512 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $1,195,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0401738
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Castle Remodeling / General Contractor

    Property Details for 1241 Old Country Rd

    Year built
    1950
    Lot size
    0.53 lot acres
    Property size
    6,512 SF
    Zone code
    BC
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    0600-102.00-02.00-014.002
    APU
    600102000200014002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $963,000
      Market price range: $499k - $1.41M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,710,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,570,000
      Change: -8% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,390,000
      Change: -19% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Riverhead
    County
    Suffolk
    State
    New York
    Longitude
    -72.6817
    Latitude
    40.9294
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $0.00
    $22,000
    $131,500
    $153,500
    -
    $236,814
    $1,415,501
    $1,652,315

    Comparable in this City

    • Value Estimation
      $1,320,000
      9,576 SF

      29 Edgar Ave

      STORE/OFFICE (MIXED USE) • 9,576 SF
      29 Edgar Ave, Riverhead, NY 11901-5002
      View Details
    • Value Estimation
      $520,000
      3,265 SF

      718 Hubbard Ave

      STORE/OFFICE (MIXED USE) • 3,265 SF
      718 Hubbard Ave, Riverhead, NY 11901
      View Details
    • Value Estimation
      $835,000
      4,515 SF

      135 Industrial Blvd

      STORE/OFFICE (MIXED USE) • 4,515 SF
      135 Industrial Blvd, Riverhead, NY 11901-4820
      View Details
    • Value Estimation
      $1,270,000
      9,100 SF

      188 Kroemer Ave

      STORE/OFFICE (MIXED USE) • 9,100 SF
      188 Kroemer Ave, Riverhead, NY 11901-3141
      View Details
    • Value Estimation by Request
      1,596 SF

      1556 Main Rd

      STORE/OFFICE (MIXED USE) • 1,596 SF
      1556 Main Rd, Riverhead, NY 11901
      View Details
    • Value Estimation by Request
      2,595 SF

      1612 Main Rd

      STORE/OFFICE (MIXED USE) • 2,595 SF
      1612 Main Rd, Riverhead, NY 11901
      View Details

    Similar Nearby for Sale

    • $679,988
      2,750 SF

      Riverhead Duplex with Rental Income

      Two-family home in Riverhead, currently generating rental income.
      418 Lincoln St, Riverhead, NY 11901
      View Details
    • $1,100,000
      4,166 SF

      Flanders Commercial Building with Income

      High-visibility commercial building on a major Hamptons corridor.
      715 Flanders Rd, Flanders, NY 11901
      View Details
    • $1,050,000
      Pending

      Mixed-Use Retail/Residential Riverhead Opportunity

      Two-story, 4,843 SF mixed-use building with retail and residential potential.
      54 W Main St, Riverhead, NY 11901
      View Details
    • $1,400,000

      90 Old Quogue Rd, Riverhead, NY 11901

      Mixed-use properties
      90 Old Quogue Rd, Riverhead, NY 11901
      View Details
    • $1,500,000
      2,300 SF

      Riverhead Mixed-Use Investment Opportunity

      Turnkey Deli, Liquor Store & Apartment
      5087 Sound Ave, Riverhead, NY 11901
      View Details
    • $3,500,000
      4.15 Acres

      Prime Land Between Tanger Outlets

      4.15 acres in an Opportunity Zone near Tanger Outlets.
      2009 Old Country Rd, Riverhead, NY 11901
      View Details

    Similar Nearby for Lease

    • $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
    • $29,380
      492,228 SF

      Jamesport Agricultural Land For Lease

      11.3 acres of prime North Fork agricultural land for lease.
      550 Herricks Ln, Northampton, NY 11901
      View Details
    • Contact for pricing
      6,200 SF

      Retail Space in Riverhead Hub

      Retail space in Riverhead's central retail hub for lease.
      1088-1106 Old Country Rd, Riverhead, NY 11901
      View Details
    • $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
    • $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
    • New
      $5,500 /Mo
      109,771 SF

      Renovated Office Space in Riverhead

      Fully renovated office space in Riverhead, zoned RLC.
      189 Main- Ste A Rd, Riverhead, NY 11901
      View Details

    Property Visit Statistics

    • Visits by month
      1.5k
    • Visitors by month
      1.2k
    • Avg Time on site
      23 min
    Request Owner's contact information
    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.
    1241 Old Country Rd
    Riverhead, NY 11901-2023
    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
    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

    Google sign-in failed. Please try again or use another login method.