Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    246 Main St Riverhead, NY 11901-2841
    Back to Search
    Property profile & analytics

    246 Main St, Riverhead, NY 11901-2841

    View on Map
    • Office buildings
    • 2,812 SF
    • 0.22 lot acres
    Off-Market
    Last Sale May 24, 2022
    $682,500
    Property ID
    US63-0593725
    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.
    Value Estimations
    $725,000
    Show details
    Cap Rate Potential
    6.7%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 246 Main St

    Year built
    1910
    Lot size
    0.22 lot acres
    Zone code
    08 - GOVERNMENTAL
    Property type
    Office buildings
    APN
    0600-128.00-03.00-029.000
    APU
    600128000300029000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 24, 2022 — Epley&sons Development Thomas E Mulligan T Deed $512k · Dime Community Bank
    Dec 3, 2020 — Mulligan,thomas E Trust Thomas E Mulligan Quit Claim Deed · related —
    Feb 10, 2020 — Harold E Goodale III — Deed · related $220k · Farm Credit Svcs
    May 9, 2019 $140,000 Goodale Kids LLC Meyer,lowell W Grant Deed —
    May 9, 2019 — Goodale Kids LLC — Deed · related $140k · Farm Credit Svcs
    Aug 27, 2018 $100,000 Lowell W Meyer Bkrg LLC Grant Deed $98k · Bkrg LLC
    Jul 26, 2018 — Thomas E Mulligan — Deed · related $348k · Teachers FCU
    Nov 29, 2001 $175,000 Thomas E Mulligan Reinehr,sharon Grant Deed $157k · Countrywide Home Loans INC
    — — Thomas E Mulligan — Deed Of Trust · related $100k · Bridgehampton National Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $765,000
      ML approach
      $705,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $860,000
      6.5%
      $795,000
      7%
      $735,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverhead
    County
    Suffolk
    State
    New York
    Longitude
    -72.6666
    Latitude
    40.9177
    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
    $7,500
    $65,000
    $72,500
    -
    $80,732
    $699,677
    $780,409

    Comparable in this City

    • Value Estimation
      $37,980,000
      126,936 SF

      110 Frg Rd

      OFFICE BUILDING
      110 Frg Rd, Riverhead, NY 11901
      View Details
    • Value Estimation by Request
      1,144 SF

      700 Main Rd

      OFFICE BUILDING
      700 Main Rd, Riverhead, NY 11901-5705
      View Details
    • Value Estimation
      $570,000
      2,640 SF

      1186 Main St

      OFFICE BUILDING
      1186 Main St, Riverhead, NY 11901
      View Details
    • Value Estimation
      $1,110,000
      5,765 SF

      400 Ostrander Ave

      OFFICE BUILDING
      400 Ostrander Ave, Riverhead, NY 11901-4614
      View Details
    • Value Estimation
      $790,000
      4,410 SF

      20 Riverleigh Ave

      OFFICE BUILDING
      20 Riverleigh Ave, Riverhead, NY 11901-3674
      View Details
    • Value Estimation by Request
      2,271 SF

      632 Roanoke Ave

      PROFESSIONAL BUILDING
      632 Roanoke Ave, Riverhead, NY 11901-2728
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Renovated Office Building in Riverhead

      Professional office building in historic Riverhead district, renovated in 2017.
      21 E 2Nd St, Riverhead, NY 11901
      View Details
    • $650,000

      Riverhead Office Building For Sale

      Two-story office building in downtown Riverhead with parking.
      211 Roanoke Ave, Riverhead, NY 11901
      View Details
    • $1,575,000

      Renovated Two-Unit Medical Office Building

      Renovated two-unit medical office building with strong income potential and 100% occupancy.
      1190 Old Country Rd, Riverhead, NY 11901
      View Details
    • $650,000

      Downtown Riverhead Office Building

      Well-maintained office building in downtown Riverhead, high-traffic area.
      616 Roanoke Ave, Riverhead, NY 11901
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Riverhead Plaza

      Freestanding retail building available for sublease in Riverhead, NY.
      655 Old Country Rd, Riverhead, NY 11901
      View Details
    • $1,200 /Mo
      5,227 SF

      Professional Office Space For Rent

      Office space with included utilities near Riverhead Courthouse.
      224 Griffing Ave, Riverhead, NY 11901
      View Details
    • Contact for pricing

      Renovated Units for Office/Retail

      Newly renovated units suitable for office and retail businesses.
      675 Flanders Rd, Flanders, NY 11901
      View Details
    • $6,500 /Mo

      Renovated Building with Flexible Zoning

      Renovated 2,400 SF building with basement and flexible zoning.
      487 Main Rd, Riverhead, NY 11901
      View Details
    • New
      $2,300 /Mo
      1,307 SF

      Ground Level Office/Storefront

      Ground-level office/storefront with DC-1 zoning, hi-visibility, and shared office space.
      131 Roanoke Ave, Riverhead, NY 11901
      View Details

    Property Visit Statistics

    • Visits by month
      13.5k
    • Visitors by month
      7.8k
    • Avg Time on site
      11 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.
    246 Main St
    Riverhead, NY 11901-2841
    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

    Thank You for Inquiry
    246 Main St, Riverhead, NY, 11901
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!