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$ 6,950,000
Est. payment | /mo
2.5 Baths
26,235 SqFt
$ 6,950,000
Est. payment | /mo
2.5 Baths
26,235 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 26,235 sqft
Price per Sqft $264
MLS Listing ID 11415104
Half Baths 5
Property Description
NNN Investment Sale. - 8 CAP Sale-Leaseback Which is the Highest on the Entire East End - Institutional-Grade Credit Tenant in a Key Riverhead Opportunity Zone - Best-in-Class NNN Yield With Credit Tenancy - This 26,235sf office building offers a stabilized sale-leaseback with a credit tenant in place under a new 10-year NNN lease, delivering an approximate 8 CAP - a yield profile that is exceptionally rare across the East End. The tenancy is stable and self-servicing, creating a true hands-off ownership opportunity with landlord responsibilities minimized by full NNN expense coverage. Currently single-tenant, the building also presents long-term flexibility to convert to multi-tenant if desired thanks to two separate tax parcels. Expanded twice over time, the structure provides a vast and differentiated layout: the first floor and two second-floor wings include private offices, conference rooms, kitchens, waiting areas, foyers, and open workspaces, while a full egress basement supports additional office/storage, archives, mechanicals, and a kitchen. - Durable Building Infrastructure Supporting Long-Term Occupancy - An architecturally distinctive asset that blends historic character with modern systems, including elevator access, sprinklers, and preventative maintenance - supporting tenant retention and institutional-grade functionality. - Downtown Riverhead Location With Civic Anchors - Positioned in the heart of Riverhead's historic downtown on 0.32 acres, directly across from Town Hall, one block from Main Street, and half a block from the Suffolk County Supreme Court. The setting reinforces long-term relevance and supports future upside as the downtown corridor continues to evolve. - Opportunity Zone Upside - Located within Riverhead's designated Opportunity Zone - providing potential tax-advantaged considerations and appreciation leverage tied to ongoing revitalization and investment activity. - Scarce East End Investment Format With Liquidity Appeal - A long-term NNN sale-leaseback at an approximate 8 CAP is virtually unmatched in the Hamptons/East End investment landscape, making this offering especially compelling for 1031 exchange buyers, passive investors, and groups seeking predictable income with minimal management burden. - Asking Price $6,950,000. - Surrounding Businesses: RXR Riverhead Mixed Use Complex, M&T Bank, NYS Supreme Court, Riverhead Town Hall, Tweed's Restaurant, North Fork Brewing Company, Suffolk Theatre, Star. Confectionary. - Inquire with the Hamptons Commercial RE Team for additional information. - 2025 Town Tax Bill: $75,919.55. - 2024 Building Insurance: $16,000 2024 Repairs / Maintenance: $62,757. - Tax ID #'s: 0600-128.00-06.00-003.001 & 0600-128.00-06.00-004.001
Location
State NY
County 36103
Rooms
Dining Room 0
Kitchen 0
Building
Story 2
Nearby Locations
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Priscilla Shields
Agent | License ID: 0578753, 238091