This prime mixed-use retail and residential property consists of a two-story, 4,843-square-foot building on a 3,920-square-foot lot, strategically positioned at the gateway to Downtown Riverhead. Current ownership has secured architectural plans allowing a future owner to reposition the ground-floor retail space and to finish the apartments on the second floor. Located in an opportunity zone, the property offers direct access to public utilities, including sewer, water, gas, and electricity. The building currently features a 3,800-square-foot retail suite on the ground floor, previously occupied by a restaurant, along with two framed out, ready to finish apartments on the second floor. Recent upgrades include a modern glass storefront, new second-floor windows, and a new roof. Zoned Downtown Center 1: Main Street (DC-1), the property sits at property sits at the heart of the Main Street district, where more than 500 residential units are proposed or currently under construction. Ample parking in large rear Municipal lot for 200 + Vehicles. Boasting a prominent location across from the Peconic River, and directly next door to the infamous Digger's Pub, 54 W Main Street is ideally positioned within Riverhead’s growing downtown, benefitting from ongoing revitalization efforts that continue to attract businesses and spur residential growth. Its central location between the North and South Forks provides convenient access to the Hamptons, North Fork wineries, picturesque farms, and the vibrant retail hub along Old Country Road, offering a unique blend of commerce and community. Additionally, the property is minutes away from key attractions such as the Long Island National Golf Club, The Riverhead Aquarium, Tanger Outlet Center, and Briermere Farms.