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Property profile & analytics
FOR SALE
Bowling alleys
3951 Lake Ave, Riverhead, NY 11901
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-6015262
For Sale
1 / 2
$1,390,000
3951 Lake Ave, Riverhead, NY 11901
View Listing →
Property profile
Verified
Property type
Bowling alleys
Use group
BOWLING ALLEY
Year built
1992
Total area
15,819 SF
Lot
1.08 ac (47,045 SF)
Zoning code
HB
APN
0900-164.00-04.00-001.001
UPID
US63-6015262
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.39M
Owner & transaction history
Jglesia Pentecostal Corp · 3 yrs held
Jglesia Pentecostal Corp
since 2023
Last sale
$1.4M
5 recorded transactions
Zoning & alternative use
HB · Riverhead, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$2.3M
+57.3%
Commercial (general)
$2.3M
+57.0%
Office building
$1.5M
+0.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Riverhead submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Riverhead submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,375,000
ML approach
$1,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$1,460,000
Current use
INDUSTRIAL (GENERAL)
$2,295,000
Change: +57% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,295,000
Change: +57% · Conversion: Difficult
OFFICE BUILDING
$1,475,000
Change: +1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,425,000
Change: -2% · Conversion: Difficult
RETAIL STORES
$1,225,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.39M
Range $1.25M – $1.53M · ±10% · vs last sale $1.40M (May 3 2023)
Last sale anchor
$1.40M
May 3 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$88 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$22,966
Tax year 2020
Assessed value
$1,734,600
Assessed 2023
Previous assessed
$1,734,600
+0.0% YoY
Effective rate
1.32%
On assessed value
Assessed land
$519,500
Assessed improvement
$1,215,100
Land market value
$747,482
Improvement market value
$1,748,345
Total market value
$2,495,827
Applied tax rate
473,002.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Bowling alleys
Use group
BOWLING ALLEY
Status
For Sale
Year built
1992
Heating
NONE
Cooling
CENTRAL
Buildings
1
Total area
15,819 SF
Lot
1.08 ac (47,045 SF)
Zoning code
HB
APN
0900-164.00-04.00-001.001
UPID
US63-6015262
Jurisdiction
SUFFOLK
Metro division
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION
Zoning & alternative use
HB · Riverhead, NY
Zoning HB · permitted uses
HB · Riverhead, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Riverhead. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.3M
OFFICE BUILDING
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.4M
RETAIL STORES
Est. value
$1.2M
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1992
Heating
NONE
Cooling
Yes
Buildings
1
Lot
1.08 ac
Current owner
From public records · entity-resolved
Jglesia Pentecostal Corp
Entity
Mailing address
81 BROOKHAVEN AVE, RIVERHEAD, NY 11901-4215
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2023
$1,400,000
Jglesia Pentecostal Corp
Wildwood Bowling 16 INC
Deed
—
Jul 31, 2015
—
Wildwood Bowling 16 INC
Wildwood Bowling Center INC
Quit Claim Deed
related
—
Dec 10, 2003
$750,000
Wildwood Bowling Center INC
Vardaros,john
Grant Deed
$525,000 · Home Loan & Investment Bank Fs
—
—
Wildwood Bowling 16 INC
—
Deed Of Trust
related
$650,000 · Jam INC
—
—
Wildwood Bowling 16 INC
—
Deed Of Trust
related
$90,000 · World Busn Lenders
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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