MLS#973528
STATUSActive
PROPERTY TYPECommercial -
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.
Property Features
Property Type: Commercial -
Basement: Yes
Basement: Finished, Full, Storage Space
Cooling: Central Air
Heating: Ducts
Lot Size: 0.31 Acres
Stories: 2.0
Taxes: $43,972
Year Built: 1920
Feature Descriptions
Appliances: Dishwasher, Oven, Refrigerator
Building Area Total: 26235
Building Features: Bathrooms, Built-in-Features, High Speed Internet, Lobby, Shades/Blinds, Signage Included, Storage
Business Type: Administrative and Support, Professional Service, Professional/Office
Cap Rate: 8
Days on Site: 169
Exterior: Frame
On Market Date: 2026-03-18
Parcel Number: 0600-128-00-06-00-003-001
Parking Features: On Street
Rental Term: Monthly
Sewer: Public Sewer
Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Water: Public
Listed By / Shown By
Listing By
Agency Name: Compass Greater NY LLC
Agency Contact: 631-480-5225
Shown By
Agency Title: Coldwell Banker Choice Properties
Agency Phone: 833-88-CHOICE (2-4642)
Broker Headquarters, 621 Columbia St. Suite 800, Cohoes, NY 12047
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33 W 2nd Street | MLS# 973528
This commercial property located at 33 W 2nd Street, Riverhead, NY 11901 is currently listed for sale with an asking price of $6,495,000. Search Riverhead real estate on www.coldwellbankerchoice.com today.