33 W 2nd St 26,235 SF Office Building Riverhead, NY 11901 $7,450,000 ($283.97/SF)

Institutional-Grade NNN Office Investment in Riverhead
8 CAP Sale-Leaseback With Credit Tenant in Key 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 NNN expense coverage. Currently single-tenant, the building also presents long-term flexibility to convert to multi-tenant if desired. 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.
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
Asking Price
$7,450,000
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 (in 2023 this number was $38,680)
Tax ID #’s: 0600-128.00-06.00-003.001 & 0600-128.00-06.00-004.001