792 Harrison Ave - Medical FOR SALE


Riverhead, NY 11901
$7,200,000 USD
516-810-0900
792 Harrison Ave, Riverhead, NY for Sale
$7,200,000 USD
Medical - FOR SALE
1/17
null | 8.21% Cap Rate

792 Harrison Ave
Riverhead, NY 11901


HIGHLIGHTS

  • ??Turn-key Investment - ?8,2% Cap Rate
  • ??100% Leased – All Medical Tenants? - ??NNN Leases
  • ?Below Market Rents - Clear Upside Potential
  • ?Strong Tenant Stability – Majority Are Original Tenants Since Construction
  • ??Ideal for 1031 - ???IRS Qualified Opportunity Zone Property
  • ??Prime Locations - Minutes From Northwell Peconic Bay Medical Center?

OVERVIEW

"When the premier regional hospital expands, the surrounding area flourishes." Located minutes from Northwell’s Peconic Bay Medical Center, 792 Harrison Avenue is at the center of Riverhead’s accelerating healthcare corridor. 20,000 sq.ft. 100% leased out. NNN leases. 8.2% Cap Rate. If you’re seeking a long-term, stable investment with real upside, this is your deal. If you’re bottom-fishing for cheap deals, stop right here and please move on. Presenting 792 Harrison Avenue. A 20,000-square-foot medical arts complex. The majority of tenants have occupied their suites since construction, underscoring the building’s long-term financial stability. All leases are triple net, tenants pay property taxes, insurance, and CAM. Units are individually metered. Parking is plentiful and conveniently located directly in front of each tenant. Riverhead’s expanding growth cycle supports long-term tenant stability, sustained demand, and rising property value. Situated in one of the few IRS-designated Opportunity Zones on Long Island, ownership offers a rare chance to invest in a high-growth commercial corridor with powerful long-term capital-gains incentives. 792 Harrison Avenue is positioned within the Route 58 corridor, the dominant healthcare, hospitality, retail, and commercial trade district serving all of eastern Long Island. Riverhead is the gateway to both the North Fork and the Hamptons - the region’s central hub of commercial activity. The property is shown by appointment only. NDA and Proof of funds are required for additional tenant info.

FOR SALE DETAILS

PRICE

$7,200,000 USD

PRICE/SF

$360 USD /SF

CAP RATE

8.21%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

125

LAND DETAILS

LAND ACRES

2.3 AC

LAND SF

100,188 SF

ZONING

Commercial

APN/PARCEL ID

0600-108-00-04-00-004-000

ASK ABOUT THIS PROPERTY

Laurence OxmanEast End Commercial Real EstateMore Info
516-810-0900

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Laurence OxmanEast End Commercial Real EstateMore Info
516-810-0900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.