For saleReduced $255,000
$3,995,000
Office building
3,000 SF building0.29 acres lot
$1,332/SF (asking price ÷ building area)
- Corner location
- Parking reported
23 Bridge StreetSag Harbor, NY 11963
Listing courtesy of Compass · MyStateMLS #11242585
For saleReduced $1,355,000 from $7,850,000
$6,495,000
26,235 SF building
33 W 2nd StRiverhead, NY 11901
Office building (from the listing description) · MLS 11415104 · Listed 648 days ago (Jan 25, 2025)
Active: Listed and available according to the MyStateMLS feed.
About this property
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. - Asking Price $6,950,000. - 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. - Inquire with the Hamptons Commercial RE Team for additional information. - 2025 Town Tax Bill: $75,919.55. - 2024 Building Insurance: $16,000 2024 Repairs / Maintenance: $62,757. - Tax ID #'s: 0600-128.00-06.00-003.001 & 0600-128.00-06.00-004.001
Description provided by the listing brokerage.
Key facts
- Asking price
- $6,495,000
- Original list price
- $7,850,000
- Status
- For sale
- Property type
- OfficeFrom the listing description
- Building area
- 26,235 SFSource field LivingArea
- MLS number
- 11415104
Facts are reported by the listing brokerage. Items not listed were not provided; that does not mean the property lacks them or that they are zero.
Price
- Asking price
- $6,495,000
- Price per SF of building
- $248/SFAsking price ÷ 26,235 SF reported building area
Building and site
- Stories
- 2
- County
- Suffolk County
Reported features
- Near public transit (from a listing field)
- Elevator (from the description)“…ith modern systems, including elevator access, sprinklers, and preve…”
A mention is not a specification. Confirm power, clear height, doors, parking and code compliance for your use with the listing representative and your own advisers.
Listing details
Basement
- Finished
Location
The pin is the listing's reported coordinates and may be approximate. It is not a parcel boundary or survey and says nothing about access rights, easements or flood zones. See more listings in Riverhead or office building in Riverhead.
Why this listing is on Commercial Only
- Property type as the listing describes it. (description: "…eld with credit tenancy - this 26,235sf office building offers a stabilized sale-leaseback with…")
- MLS property class detail. (PropertyTypeDetail: comm-building)
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Price and status history
- Original list price reported by the brokerage: $7,850,000
Changes observed by Commercial Only in MyStateMLS data since Nov 3, 2026. This is not a public-record sales or lease history.
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Guides
Listing courtesy of Compass. Listing agent: Hal Zwick. Co-listing agent: Jeffrey Sztorc. Listings provided by MyStateMLS.
Listing last modified at the source Nov 4, 2026, 2:27 AM UTC. Commercial Only last confirmed MyStateMLS data Nov 4, 2026, 6:10 AM UTC. Information is deemed reliable but not guaranteed; verify all details with the listing representative.