89 Peconic AveRiverhead, NY 11901

For Sale
$1,500,000
Prime 1-acre retail site, 4,000 sq ft.

Overview

Added:
Dec 11, 2024
Days on market:
126
This exceptional 1-acre commercial property at 89 Peconic Avenue in Riverhead, NY (zip code 11901), presents a unique redevelopment opportunity. The site boasts 4,000 square feet of buildable space and is zoned HB + ROD, allowing for a variety of commercial uses. Preliminary site plan approval is already in place for the construction of a 4,000 square foot restaurant featuring a rooftop bar and canoe rental business, making this an ideal investment for an experienced developer or restaurateur. The property enjoys a prominent 160-foot frontage on Peconic Avenue with three convenient curb cuts, ensuring excellent visibility and accessibility. The lot size is one acre, providing ample space for the proposed development and potential future expansion. Annual property taxes are $5,600. A significant financial incentive is available to prospective buyers: a $500,000 development grant offered through the New York State Development Corporation and the Town of Southampton. This grant significantly reduces the financial burden and accelerates the return on investment. This is a rare chance to acquire a prime commercial property in a desirable location with substantial development potential and attractive financial support. Don't miss this opportunity to capitalize on this exceptional offering.

Highlights

  • One-acre lot
  • Asking price: $1,500,000
  • Annual property taxes: $5,600
  • HB + Rod zoning

Property Details for 89 Peconic Ave

Property type
Retail properties, Restaurants
Square Feet
4,000 SF
Lot Size (sq. ft)
43,560 SF

Location Insight

City
Riverhead
County
Suffolk
State
New York
Latitude
40.9156541
Longitude
-72.6630445
89 Peconic Ave, Riverhead, New York

FAQs

What type of property is this?
Retail property - Prime 1-acre retail site, 4,000 sq ft.
Where is the retail property located?
The property is located at 89 Peconic Ave Riverhead, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: One-acre lot; Asking price: $1,500,000; Annual property taxes: $5,600
How can I contact the broker?
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89 Peconic Ave
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