54 W Main St Riverhead, NY 11901
- Turn key restaurants
- 4,843 SF
- 0.09 lot acres
Current Use by Public Records
- Privet's Consignment Warehouse / Furniture Store
- Acupuncture Clinic LLC / Acupuncture Clinic
- DAT Testing Again / Acupuncture Clinic
- Polished Concrete Solution | Stained Polished Concrete | M echanically Polished Concrete Service | Metallic Epoxy Coating / General Store
- Polished Concrete Solution / General Store
Property Details for 54 W Main St
- Year built
- 1922
- Lot size
- 0.09 lot acres
- Property size
- 4,843 SF
- Zone code
- DC-1
- Property type
- Turn key restaurants
- APN
- 0600-128.00-06.00-019.001
- APU
- 600128000600019001
Description
This exceptional mixed-use property, located at 54 W Main Street in Riverhead, NY, presents a compelling redevelopment opportunity. The 4,843 square foot building, constructed in 1940 and extensively renovated in 2024, sits on a 3,920 square foot lot and boasts a prominent Main Street location within the revitalized downtown area. Currently vacant, the property offers a ground floor retail space (previously a restaurant) and two existing one-bedroom apartments on the second floor. Architectural plans are in place to reposition the ground floor retail area and add two more apartments, maximizing the property's potential. The building features a new glass storefront and second-floor windows, enhancing its curb appeal. Zoned DC-1 (Downtown Center 1), this fee-simple property benefits from its location in an opportunity zone, providing access to public utilities (sewer, water, gas, and electricity). With ample parking (200 spaces), the property is ideally situated near the Peconic River, benefiting from Riverhead's ongoing revitalization and the influx of new businesses and residential growth. Its central location between the North and South Forks provides easy access to the Hamptons, North Fork wineries, and popular attractions like the Long Island National Golf Club and Briermere Farms. The asking price is $1,595,000. This is a rare chance to acquire a prime mixed-use asset in a thriving Long Island community.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $665,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $475,000
- 6.5%
- $505,000
- 7%
- $510,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $580,000
- Geo Method
- $480,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $425,000
- Retail
- $555,000
- Mixed-Use
- $515,000
- Hospitality
- $435,000
- Educational
- $580,000
- Residential Income
- $560,000
- Energy
- $430,000
- Income-Based Land
- $515,000
- Food Service
- $490,000
Location Insight
- Map
- Local Demand
- City
- Riverhead
- County
- Suffolk
- State
- New York
- Longitude
- -72.6632
- Latitude
- 40.9173
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
