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    Property profile & analytics
    OFF-MARKET Estimated value $1,095,000
    Office buildings

    508 Main Rd, Riverhead, NY 11901-1906

    1,979 SF 1.5 ac lot Built 1974
    Entity Owned 5-yr Hold ~ Est. High Equity
    Property ID
    US63-2935321
    Property summary
    AI-generated overview

    This exceptional 5,338 square foot freestanding medical/professional office building presents a unique investment opportunity in the heart of Aquebogue, NY. Situated on a desirable 1.5-acre lot, this fully occupied, seven-unit building currently generates strong rental income. The property is located on Main Road, offering excellent visibility and accessibility. Its zoning, designated as Hamlet Center and Hamlet Residential, allows for a variety of development possibilities beyond its current use. Detailed proposed plans are available for review, showcasing the potential for expansion or redevelopment to capitalize on the thriving North Fork market. The building's existing structure provides immediate return on investment, while the zoning and ample land offer significant long-term growth potential. This property is ideally suited for investors seeking a blend of immediate income and future development opportunities in a highly sought-after Long Island location known for its renowned wine country. The strategic location within Aquebogue ensures convenient access to local amenities and a strong pool of potential tenants. This is a rare chance to acquire a substantial property with both immediate income and significant upside potential in a prime location. The existing building's solid construction and current occupancy make this a low-risk, high-reward investment. Don't miss this chance to own a piece of the vibrant North Fork.

    Property profile
    Verified
    Property type Office buildings
    Use group PROFESSIONAL BUILDING
    Year built 1974
    Total area 1,979 SF
    Lot 1.5 ac (65,340 SF)
    Zoning code 04 - FARM
    APN 0600-066.00-02.00-015.000
    UPID US63-2935321
    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
    Current use
    Occupant on record · Public records
    • MeTime Beauty Salon Hair Salon Nail Salon
    • Artisan Construction Associates, Inc. Construction Company General Contractor
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $1.09M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.49M
    Blend (final) Blend
    $1.10M
    Owner & transaction history
    508 Main Rd LLC · 5 yrs held
    508 Main Rd LLC
    since 2021
    Last sale
    $1.1M
    2 recorded transactions
    2021
    2016
    Zoning & alternative use
    04 - FARM · Riverhead, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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