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About the Listing CMPA17 - 217662
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.
Listing Highlights
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances: Dishwasher, Oven, Refrigerator
- Air Cond: Central Air
- Heating: Ducts
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Finished,Full,Storage Space
- Other:
- Water: Public
Exterior Details
- Lot Description: No Waterfront
- Garage Capacity: N/A
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: On Street
Financial Details
- Tax Amount: $43,972
- Taxes w/Assessments: N/A
- Tax/Property ID: 0600-128-00-06-00-003-001
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
33 W 2nd St Riverhead, NY 11901
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