33 W 2nd Street,Riverhead, NY 11901
Riverhead, NY 11901
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.
Details
| MLS # | 973528 |
|---|---|
| Listing Type | For Sale |
| Style | Business |
| Sub-Type | Resale |
| Status | Active |
| Year | 1920 |
| Days On Site | 232 |
| Listing Provided By | Compass Greater NY LLC | Sean E. Deery |
Features
| SQ Feet | 26,235 |
|---|---|
| Basement | Y |
| Story(s) | 2 |
| Building(s) | 1 |
| Zoning | 8 |
| Acreage | 0.32 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Ducts |
| Appliances | Dishwasher, Oven, Refrigerator |
Exterior
| Construction Materials | Frame |
|---|---|
| Foundation Details | Concrete Perimeter |
Parking
| Parking Features | On Street |
|---|
Utilities
| Utilities | Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Assessed Value | 189000 |
| Tax Annual Amount | 43972.36 |
Area Information
| State | NY |
|---|---|
| County | Suffolk County |
| City | Riverhead |
| Zip Code | 11901 |
| Listing VS Median (in 11901) | |
Price: $6,495,000 low | high Med: $527,000 sqft: 26,235 low | high Med: 1,469 $ / sqft: $248 low | high Med: $361 On site: 232 low | high Med: 35 | |
Market Activity 11901
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Learn More About This Property
| State | NY |
|---|---|
| County | Suffolk County |
| City | Riverhead |
| Zip Code | 11901 |
| Listing VS Median (in 11901) | |
Price: $6,495,000 low | high Med: $527,000 sqft: 26,235 low | high Med: 1,469 $ / sqft: $248 low | high Med: $361 On site: 232 low | high Med: 35 | |