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Investment Highlights
- The property is situated on a 0.07-acre parcel and comprises approximately +/-4,073 square feet of well-configured commercial space.
- The asset further benefits from direct access to municipal parking located immediately behind the building.
- It is currently leased to Haiku Sushi and Olga’s, providing stable in-place income and a diversified tenant mix.
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire 40 E Main Street (the “Subject Property”), a fully occupied retail asset strategically positioned in the heart of Downtown Riverhead, NY.
The property is situated on a 0.07-acre parcel and comprises approximately +/-4,073 square feet of well-configured commercial space. It is currently leased to Haiku Sushi and Olga’s, providing stable in-place income and a diversified tenant mix. The asset further benefits from direct access to municipal parking located immediately behind the building—an increasingly valuable amenity within the walkable downtown core.
Located along Riverhead’s primary commercial corridor, the Subject Property is surrounded by a robust concentration of regional demand drivers. Nearby retail anchors include Riverhead Centre, Tanger Outlets Riverhead, The Shops at Riverhead, and the Route 58 big-box corridor, home to nationally recognized retailers such as Costco, Home Depot, Walmart, and BJ’s Wholesale Club. The area’s economic base is further reinforced by major institutional anchors, including Peconic Bay Medical Center, the Riverhead Central School District, and a network of parks, trails, and recreational amenities along the Peconic Riverfront.
With immediate connectivity to County Road 58, Sunrise Highway, and the Long Island Expressway, the property offers exceptional regional accessibility and is well-positioned to benefit from Riverhead’s continued growth, strengthening urban fabric, and rising residential and commercial demand. This combination of stable tenancy, irreplaceable Main Street positioning, and proximity to major economic drivers makes 40 E Main Street a compelling retail investment opportunity in one of Long Island’s most active and evolving downtown districts.
The property is situated on a 0.07-acre parcel and comprises approximately +/-4,073 square feet of well-configured commercial space. It is currently leased to Haiku Sushi and Olga’s, providing stable in-place income and a diversified tenant mix. The asset further benefits from direct access to municipal parking located immediately behind the building—an increasingly valuable amenity within the walkable downtown core.
Located along Riverhead’s primary commercial corridor, the Subject Property is surrounded by a robust concentration of regional demand drivers. Nearby retail anchors include Riverhead Centre, Tanger Outlets Riverhead, The Shops at Riverhead, and the Route 58 big-box corridor, home to nationally recognized retailers such as Costco, Home Depot, Walmart, and BJ’s Wholesale Club. The area’s economic base is further reinforced by major institutional anchors, including Peconic Bay Medical Center, the Riverhead Central School District, and a network of parks, trails, and recreational amenities along the Peconic Riverfront.
With immediate connectivity to County Road 58, Sunrise Highway, and the Long Island Expressway, the property offers exceptional regional accessibility and is well-positioned to benefit from Riverhead’s continued growth, strengthening urban fabric, and rising residential and commercial demand. This combination of stable tenancy, irreplaceable Main Street positioning, and proximity to major economic drivers makes 40 E Main Street a compelling retail investment opportunity in one of Long Island’s most active and evolving downtown districts.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,073 SF
Building Class
C
Year Built
1978
Price
$1,040,000
Price Per SF
$255.34
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
1.34
Lot Size
0.07 AC
Opportunity Zone
Yes
Zoning
DC1 - Downtown Center
Frontage
28’ on E Main
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0600-128-00-06-00-049-002 | Improvements Assessment | $14,040 |
| Land Assessment | $30,500 | Total Assessment | $44,540 |
Property Taxes
Parcel Number
0600-128-00-06-00-049-002
Land Assessment
$30,500
Improvements Assessment
$14,040
Total Assessment
$44,540
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