792 Harrison Ave Riverhead, NY 11901

Property Details for 792 Harrison Ave

Year built

2009

Lot size

2.30 lot acres

Property size

20,000 SF

Property type

Medical offices

Description

This exceptional investment opportunity presents a 20,000-square-foot medical office complex situated on a 2.3-acre lot in Riverhead, New York. The property, built in 2009, consists of two single-story buildings and boasts a remarkable 8.26% cap rate, generating a substantial net operating income (NOI) of $561,817. Currently 100% leased with a diverse mix of medical tenants, many of whom have been long-term occupants, this property offers significant upside potential due to below-market rents. The property features ample parking directly in front of each office suite, all located on the ground floor for convenient access. Its prime location near Peconic Bay Medical Center, part of Northwell Health, ensures high visibility and strong tenant demand. Further enhancing its appeal, this property is designated as an Opportunity Zone property, making it an attractive option for 1031 exchanges and other qualified investors. The asking price is $6,800,000, translating to $340 per square foot. All leases are NNN (Net, Net, Net), minimizing landlord responsibilities. Proof of funds and a non-disclosure agreement are required for access to tenant information. This is a rare opportunity to acquire a stable, high-performing asset in a desirable location.