Remarks

Income Producing Asset - This 26,235sf office building at 33 W 2nd Street offers a stabilized investment with a financially secure NNN tenant in place under a new 10-year lease. The property generates considerable NOI, providing investors with long-term returns. Currently single tenant, but easily converted to multi-tenant. The original building was expanded twice creating a vast and unique structure. The first floor and two second floor wings feature a combination of private offices, conference rooms, kitchens, waiting areas, foyers, and open workspaces. The full egress basement provides additional office and storage areas, along with archives, mechanicals, & a kitchen. Historic Charm, Modern Functionality - This architecturally distinctive building blends historic character with updated office infrastructure, like elevator access, sprinklers, & fiber optic internet, appealing to businesses seeking both charm and practicality. Prime Downtown Location - Located in the heart of historic downtown Riverhead, the 0.32-acre property sits across from Riverhead Town Hall, one block from Main Street, and half a block from the Suffolk County Supreme Court. Its position within the Village's revitalization corridor ensures high visibility, strategic placement, and long-term redevelopment opportunities. Opportunity Zone Advantage - The property lies within Riverhead's designated Opportunity Zone, offering potential tax benefits and appreciation as the area continues to experience revitalization and economic development. High-Demand Office Space - The property's size, prime location, and long-term tenant presence make it a rare investment in the East End's limited office market, highly sought after by 1031 exchange buyers and long-term investors. Asking Price - $7,850,000 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. (2024 Town Tax Bill: $69,790) (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)

Details

MLS#: 11415104
Price: $7,850,000

Style: Commercial Building
Bedrooms: 0
Baths Full: 0
Baths Half: 5
Sq Ft: 26235
Year Built: 0

County: Suffolk
Tax Fee: 0

School District: 000000