1550 Main RdRiverhead, NY 11901

Property Details for 1550 Main Rd

Year built

1949

Lot size

0.12 AC

Property size (Sq ft)

1,764 SF

Zone code

04 - FARM

Property type

Investment properties

Property subtype

Live-work space

APN

0600-068.00-02.00-001.000

APU

600068000200001000

Description

This exceptional investment opportunity presents a 1,422 square foot mixed-use property situated at 1550 Main Rd, Riverhead, NY. The property comprises a 502 square foot storefront featuring a half-bathroom, seamlessly connected to a 920 square foot residential unit. The residential space offers four rooms, two bedrooms, and a full bathroom, providing versatile options for owner-occupancy or rental income. An unfinished attic offers potential for expansion or additional storage, while a partial basement provides further utility space. The property's location on Main Road in Riverhead offers excellent visibility and accessibility, making it ideal for a variety of commercial ventures. The current vacancy rate is estimated at 25%. This property is being offered at $720,000 and presents a unique blend of commercial and residential space, making it an attractive investment for those seeking a multi-faceted opportunity in a thriving Long Island community. Keys and open house details are forthcoming. The property sits on a lot with no acreage specified. This is a rare opportunity to acquire a well-positioned mixed-use building in a desirable location. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $326,084

  6.5%

  $301,001

  7%

  $279,501

• Comparable approach

  Method

  Valuation

  Relative Method

  $230,484

  Geo Method

  $230,484

• Alternative Use

  Use

  Valuation

  Residential

  $373,241

  Hospitality

  $341,887

  Educational

  $284,446

  Medical

  $294,228

  Retail

  $442,471

Location Insight

City

Riverhead

County

Suffolk

State

New York

Latitude

40.9493

Longitude

-72.5826

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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